Stocks Opened Mixed, IBM Dragged Dow

U.S. stocks opened mixed on Friday, with the S&P 500 and the Nasdaq Composite gained and a drop in IBM kept the Dow in negative territory, after the April headline jobs number surpassed expectations. The Dow Jones Industrial Average lately fell 26.08 points, or 0.12%, to 20,925.39. The S&P 500 advanced 1.62 points, or 0.07%, to 2,391.14. The Nasdaq Composite climbed 4.82 points, or 0.08%, to 6,080.16.

The U.S. labor market topped expectations in April. The U.S. economy added 211,000 jobs and the unemployment rate fell to a new post-crisis low of 4.4%. This is the lowest unemployment rate since May 2007.

Shares of International Business Machines Corp. IBM, -2.35% fell after Buffett told CNBC in an interview Thursday that Berkshire had sold one-third of its stake in the computing giant.

Oil futures swung between gains and losses Friday, but were off session lows as a sharp slide in prices overnight lured in bargain hunters and sparked expectations of intervention from major oil producers. West Texas Intermediate crude for delivery in June was off 10 cents, or 0.2%, at $45.43 a barrel. July Brent crude was up 3 cents at $48.41 a barrel, erasing a deep decline.