US STOCKS-Wall St reverses to trade up; S&P still down for week

viernes 6 de mayo de 2016 15:05 GYT

* April nonfarm payrolls up by 160,000 vs 202,000 expected

* Job additions smallest in 7 months

* Endo slumps after slashing forecasts, weighs on biotechs

* Indexes up: Dow 0.5 pct, S&P 0.3 pct, Nasdaq 0.3 pct (Updates to late afternoon)

By Caroline Valetkevitch

May 6 (Reuters) - U.S. stocks rebounded from early losses in afternoon trading on Friday, though the S&P 500 was still on track for losses this week after monthly jobs data showed employment gains hit a seven-month low.

U.S. oil prices settled higher, lifting the S&P energy index 0.1 percent, while gains in gold prices helped other commodity-related shares. The S&P materials index was up 0.8 percent.

Nonfarm payrolls increased by 160,000 last month, far below the 202,000 that economists polled by Reuters had forecast on average. April's job gains were the smallest since September and below the first-quarter average job growth of 200,000. nL2N18214G]

"I thought it was positive overall. In terms of total labor demand, it's considerably better, but the headline number dropped and there was a knee-jerk reaction to that," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.   Continuación...