Stocks Wobbled after Jobs Data

U.S. stocks opened with losses on Friday after April’s job gains proved less than expected. The Dow Jones Industrial Average lately fell 91.65 points to 13,114.94. The S&P 500 fell 11.95 points to 1,379.62. The Nasdaq Composite lost 36.86 points to 2,987.44.

Employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work. Payrolls climbed 115,000, the smallest gain in six months, after a revised 154,000 rise in March that was more than initially estimated, Labor Department figures showed Friday. The jobless rate fell to a three-year low of 8.1 percent.

Crude futures remained lower Friday. Crude oil for June delivery fell $1.60 to $100.94 a barrel in electronic trading on Globex. The contract was down around $1.75 a barrel.

Gold futures turned higher on Friday. Gold for June delivery rose 80 cents to $1,635.60 an ounce. The contract was down around $2 an ounce right before the release of the data.