US STOCKS-Wall St lower after strong jobs data

viernes 4 de marzo de 2016 11:13 GYT

* Feb nonfarm payrolls increase 242,000

* HP Enterprise up after strong results

* Indexes down: Dow 0.14 pct, S&P 0.18 pct, Nasdaq 0.28 pct (Updates to open)

By Abhiram Nandakumar

March 4 (Reuters) - Wall Street was lower on Friday morning after the data showed U.S. economy added more jobs than expected in February, easing concerns about a recession and suggesting there was room for the Federal Reserve to gradually raise interest rates this year.

Nonfarm payrolls increased by 242,000 jobs last month, the Labor Department said on Friday. The unemployment rate held at an eight-year low of 4.9 percent even as more people piled into the labor market.

"I guess the only blemish is that wages number, and I am looking for some sign there is something seasonal going on here, which could always be the case," said Paul Christopher, head market strategist for Wells Fargo Investment Institute in St. Louis.

At 9:46 a.m. ET (1446 GMT), the Dow Jones industrial average was down 24.52 points, or 0.14 percent, at 16,919.38, the S&P 500 was down 3.62 points, or 0.18 percent, at 1,989.78 and the Nasdaq Composite index was down 13.00 points, or 0.28 percent, at 4,694.42.

Seven of the 10 S&P sectors were lower, led by a 0.49 percent fall in the rate-sensitive utilities sector.   Continuación...