U.S. stocks rebound after jobs report

U.S. stocks wavered in the morning session on Friday, as investors digested newly-released nonfarm payroll report amid election concerns.

At midday, the Dow Jones Industrial Average gained 26.44 points, or 0.15 percent, to 17,957.11. The S&P 500 rose 5.88 points, or 0.28 percent, to 2,094.54. The Nasdaq Composite Index was up 12.56 points, or 0.25 percent, to 5,070.97.

U.S. total nonfarm payroll employment rose by 161,000 in October, worse than market expectations of 175,000, and the unemployment rate was little changed at 4.9 percent, according to the Labor Department Friday.

Federal Open Market Committee participants won't necessarily see it as overwhelming proof of a need to hike rates, but it keeps them on track for a December rate increase while investors wait for the November report, said Chris Low, chief economist at FTN Financial.

October's nonfarm report is the final payrolls data before the U.S. presidential election on Nov. 8.

Investors became nervous and cautious recently amid uncertainties about market reactions to the outcome of Tuesday's election.

Meanwhile, Wall Street still meditated on the Federal Reserve's decision to leave interest rates unchanged earlier this week. Enditem