NEW YORK, May 2 (Reuters) - U.S. stocks opened mostly flat on Friday following a payroll report that was much better than expected.
While the report was an encouraging read on the labor market, investors said Wall Street's gains over the week made further advances unlikely.
The Dow Jones industrial average was up 7.07 points, or 0.04 percent, at 16,565.94. The Standard & Poor's 500 Index was up 0.72 points, or 0.04 percent, at 1,884.40. The Nasdaq Composite Index was up 9.16 points, or 0.22 percent, at 4,136.62.
For the week, the Dow is up 1.2 percent, the S&P 500 is up 1.1 percent and the Nasdaq is up 1.4 percent. (Reporting by Ryan Vlastelica; Editing by Bernadette Baum)