NEW YORK (MarketWatch) -- U.S. stocks turned mixed at midday Friday, as a rally inspired by hopes that the Federal Reserve will conclude that it doesn't have to raise interest rates next week lost its luster.
Investors have been puzzled in recent sessions as to whether the Fed will lift rates again at its Aug. 8 monetary-policy meeting. Earlier non-farm payrolls data were seen as providing the strongest possible incentive for the central bank to pause, sparking a rally.
The Dow Jones Industrial Average was 24 points higher at 11,267, with 23 of its 30 components in positive territory.
The S&P 500 was up 1 point at 1,281, placing it on track to score its first 3-session winning streak since early June.
The Nasdaq Composite lost early gains to fall 3.03 points to 2,107.08.
The U.S. rates question dominated investors' minds as the trading week wound to a close.
The Labor Department said that non-farm payrolls increased by 113,000 last month and that June's growth was revised to 124,000, as the nation's unemployment rate rose to 4.8% in July from 4.6% in June. This marked the highest jobless rate since February