U.S. stocks open mixed on jobs data

U.S. stocks opened mixed on Monday, following Friday' s strong rally on jobs report that showed growth in the U.S. economy but not enough to warrant the Federal Reserve tightening immediately.

U.S. stocks surged with global shares on Friday, as investors cheered over the jobs report.

Total nonfarm payroll employment increased by 223,000 in April, and the unemployment rate was essentially unchanged at 5.4 percent, the U.S. Labor Department said Friday.

"Post report, bond yields are down and equity futures are up because the headline was weaker than expected, and especially weaker than the Wall Street consensus. That means the Fed' s case for rate hikes is diminished," said Chris Low, chief economist at FTN Financial, in a note.

No major economic news or earnings reports are expected on Monday. Retail sales and industrial production figures come out later in the week.

Shortly after the opening bell, the Dow Jones Industrial Average ticked down 10.94 points, or 0.06 percent, to 18,180.17. The S&P 500 edged down 0.17 points, or 0.01 percent, to 2,115.93. The Nasdaq Composite Index rose 8.56 points, or 0.17 percent, to 5,012.11. Endi