US STOCKS-Wall St set for higher open after payrolls report
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By Chuck Mikolajczak
NEW YORK, Feb 6 (Reuters) - U.S. stocks were set to advance at the open on Friday, putting the S&P 500 on track to extend its best weekly gain in seven, after a stronger-than-expected monthly payrolls report.
Nonfarm payrolls increased 257,000 last month, topping expectations for 234,000 jobs, and data for November and December was revised to show a whopping 147,000 more jobs created than previously reported. The unemployment rate ticked up to 5.7 percent as a result of an increased labor force.
"It was decent, the revision was definitely good," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute in St. Louis.
The payrolls report is likely to heighten expectations the U.S. Federal Reserve will begin to increase interest rates in June. Continuación...