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 0.57 pct, S&P 0.67 pct, Nasdaq 0.99 pct (Adds fresh comment and updates prices)
By Noel Randewich
Oct 2 (Reuters) - U.S. stocks extended gains on Friday afternoon as early worries about the economy after a disappointing jobs report gave way to a robust rally in beaten-down energy and materials stocks.
The three major indexes clawed back losses of more than 1.5 percent as poor payroll data hinted at economic weakness while strengthening the argument for delaying a long-awaited interest rate hike.
"The silver lining with this disappointing jobs number is that possibly this could push the rate hike off to the first quarter of 2016," said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa.
Nonfarm payrolls rose by 142,000, far below the 203,000 economists had expected, and August and July figures were revised down. But the jobless rate held at 5.1 percent. Continuación...