US STOCKS-Wall St little changed; utilities fall as debt yields rise
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* Indexes: Dow down 0.1 pct, S&P up 0.03 pct, Nasdaq down 0.1 pct (Updates to afternoon)
By Caroline Valetkevitch
NEW YORK, Feb 6 (Reuters) - U.S. stocks were little changed in afternoon trading Friday as a rosy U.S. jobs report supported expectations of a rise in U.S. interest rates by mid-year, helping financial stocks that benefit from higher rates but hurting utilities.
The S&P 500 index of utilities, used as a bond proxy by investors in a low-rate environment, dropped 3.3 percent. It was on track for its biggest daily drop since August 2011 following a jump in U.S. government debt yields. Simon Properties, a real estate investment trust, was down 3.7 percent at $195.77.
The financials sector, which tends to benefit from rising interest rates, was among the biggest positive for the S&P 500, with the S&P financial index up 1.1. percent.
Nonfarm payrolls increased more than expected in January and wages rebounded, while jobs for November and December were revised sharply higher. The unemployment rate ticked up to 5.7 percent as a result of an increased labor force. Continuación...