U.S. stocks open mixed after key jobs report

U.S. stocks opened mixed Friday, as investors digested the newly-released jobs report for indications on economic growth and the path of U.S. Federal Reserve tightening.

Total non-farm payroll employment increased by 242,000 in February, topping market expectations, and the unemployment rate was unchanged at 4.9 percent, the U.S. Labor Department announced Friday.

In February, average hourly earnings for all employees on private non-farm payrolls declined 3 cents to 25.35 U.S. dollars, following an increase of 12 cents in January. Average hourly earnings have risen by 2.2 percent over the year.

Analysts said the upbeat jobs data pointed to a modest recovery in the U.S. economic growth, and allow the Fed to gradually raise interest rates this year.

The goods and services deficit was 45.7 billion dollars in January, up 1 billion dollars from the revised level of 44.7 billion dollars in December, the U.S. Commerce Department reported Friday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 1.03 points, or 0.01 percent, to 16,944.93. The S&P 500 fell 0.56 points, or 0.03 percent, to 1,992.84. The Nasdaq Composite Index was down 10.81 points, or 0.23 percent, to 4,696.61.

U.S. stocks continued to rally Thursday, as investors awaited Friday's key jobs report, while digesting newly-released economic data. Endi