US STOCKS-Wall St choppy after robust jobs data
* May payrolls increase by 280,000 vs est 225,000
* Average hourly earnings increase
* Traders betting Fed will start raising rates in Oct
* Indexes: Dow down 0.18 pct, S&P down 0.06 pct, Nasdaq up 0.03 pct (Updates to early afternoon)
By Tanya Agrawal
June 5 (Reuters) - U.S. stocks were mixed in choppy trading on Friday as a stronger-than-expected May jobs report strengthened the view that the U.S. Federal Reserve will raise rates as early as September.
The strong jobs data indicated that economic growth was gaining traction after coming to a standstill in the first quarter, but Wall Street took a dim view as a rate hike could increase the cost of borrowing.
Traders are now betting the Fed will start raising interest rates as soon as October, and will make a second increase early next year.
"The market is addicted to the Fed's liquidity, and this certainly puts more ammunition in the Fed's plan to start lift-off in September," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Continuación...