US STOCKS-Wall St bounces back as energy stocks rally
* Sept nonfarm payrolls up by 142,000 vs 203,000 expected
* Unemployment rate unchanged at 5.1 pct
* Expectations of rate hike this year recede
* Indexes up: Dow 0.5 pct, S&P 0.56 pct, Nasdaq 0.76 pct (Updates to afternoon)
By Noel Randewich
Oct 2 (Reuters) - U.S. stocks gained on Friday afternoon as early worries about the economy after a disappointing jobs report gave way to a rally in beaten-down energy and materials stocks.
The three major indexes clawed back losses of more than 1.5 percent as investors weighed poor payroll data that hinted at economic weakness but also strengthened the argument for delaying a long-awaited interest rate hike.
"The uncertainty has certainly increased," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
However, he said there was no one catalyst for the intraday volatility. "There has been a bounce in biotechs, which have been oversold, and that's helped things today." Continuación...