US STOCKS-Wall Street ends higher in sharp turnaround
* 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 close up: Dow 1.23 pct, S&P 1.43 pct, Nasdaq 1.74 pct (Updates to close, adds comment, detail on performance)
By Noel Randewich
Oct 2 (Reuters) - U.S. stock indexes jumped over 1 percent on Friday as worries about the economy after a disappointing jobs report gave way to a robust rally in 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 recently beaten-down S&P energy index surged 4.01 percent following a rise in oil prices, while the materials index jumped 2.41 percent.
"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. Continuación...