U.S. stocks rose in trading Friday following a strong jobs report that was slightly offset by increased potential for an earlier Federal Reserve (Fed) interest rate hike. In U.S. economic news, the Labor Department reported that the United States created 257,000 jobs in January, beating estimates of roughly 230,000. Average hourly earnings also grew by 0.5 percent, above estimates. The unemployment rate increased to 5.7 percent, above estimates. Non-farm productivity fell a greater-than-expected 1.8 percent for the fourth quarter. Economists had forecast productivity, which measures hourly output per worker, rising at a 0.5 percent pace. The dollar traded higher against major world currencies. Light sweet crude oil for March delivery climbed $1.80 to $51.36 a barrel on the New York Mercantile Exchange, while gold futures fell $27.90 to $1,235.00 an ounce. The Dow Jones industrial average increased 37.63, or 0.21 percent, to 17,922.51. The broader Standard & Poor's 500 index added 6.98, or 0.34 percent, to 2,069.54. The technology-heavy Nasdaq composite index rose 15.85, or 0.33 percent, to 4,781.08.
