REFILE-US STOCKS-Wall St flat; weak payrolls soothe rate-hike fears

viernes 1 de agosto de 2014 12:37 GYT

(Corrects spelling in 12th paragraph of company name to Bally, not Balley)

* Payroll report comes in below forecasts

* P&G, Tesla rise after results, Chevron down

* Dow down 0.2 pct, S&P 500 flat, Nasdaq down 0.1 pct

By Ryan Vlastelica

NEW YORK, Aug 1 (Reuters) - U.S. stocks were little changed on Friday, paring big losses that had been indicated by trading before the market opened, as a weak July jobs report allayed concerns the Federal Reserve might raise interest rates sooner than many had expected.

Futures had indicated a second straight day of sharp losses following Thursday's selloff, which was spurred by concerns of a sooner-than-expected rate hike by the U.S. Federal Reserve.

Data showed 209,000 jobs were created in July, below the 233,000 that was expected. Analysts had speculated that a stronger-than-expected report would give the Fed flexibility to hike rates. Such a move would raise borrowing costs for individuals and companies and crimp spending, which could impact economic growth.

The jobs report "won't force the Fed to raise rates any time soon, and given all the fear that was out there yesterday, it makes sense to me that futures would come back so strongly," said Mark Grant, managing director at Southwest Securities in Fort Lauderdale.   Continuación...