Stocks pull higher after payrolls data questioned

(MarketWatch) — U.S. stocks on Friday climbed for a third day to end the week higher as Wall Street offered a subdued reaction to disappointing November jobs data that had some expressing doubt and forecasting an upward revision.

“The jobs number was surprising, and I’m wondering if next month we get a revision. I mean retail losses in November? You have to take it with a grain of salt,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald, of the Labor Department’s report.

The report showed payrolls growth of 39,000 last month, far fewer than the 155,000 gain predicted by analysts surveyed by MarketWatch. Read more on jobs report.

The major indexes ended higher for the week, with the Nasdaq Composite Index nearing a three-year high, thanks largely to rallies on Wednesday and Thursday.

On Friday, the indexes meandered mostly lower most of the session before turning higher late in the day. (more)