US STOCKS-Wall St ends up after jobs report; S&P down for week

viernes 6 de mayo de 2016 16:38 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 0.4 pct (Updates close)

By Caroline Valetkevitch

May 6 (Reuters) - U.S. stocks rebounded from early losses to close higher on Friday as investors viewed the day's jobs data as less disappointing than first thought.

Materials, industrials and discretionary shares were among the day's biggest gainers, with the S&P materials up 0.8 percent and gold gaining for the day.

In the Labor Department report, nonfarm payrolls increased less than economists expected, and April's job gains were the smallest since September.

But the report also had some upbeat news, with both average hourly earnings and the average work week rising, and analysts said the overall slowdown in hiring may temper expectations for U.S. interest rate hikes.   Continuación...