US STOCKS-Wall St up as tepid job data eases rate hike concerns
* June nonfarm payrolls increase less than expected
* Average hourly earnings unchanged
* Eight of the 10 S&P sectors up
* Indexes up: Dow 0.22 pct, S&P 0.23 pct, Nasdaq 0.04 pct (Updates to open)
By Sweta Singh
July 2 (Reuters) - U.S. stocks rose on Thursday after data showed job growth slowed in June, indicating that the U.S. Federal Reserve might hold off on raising interest rates in September.
Eight of the 10 major S&P 500 sectors rose, with the utilities index leading the gains with a 1.5 percent rise.
Nonfarm payrolls increased 223,000 last month, below the 230,000 that economists polled by Reuters had expected.
"It is a slightly disappointing payroll number. If anything, it buys the Fed a little more time before the first rate hike," said Wilmer Stith, a fixed income portfolio manager at Wilmington Trust in Baltimore. Continuación...