* Job cuts less-than-expected, unemployment rate steady
* Apple lifts Nasdaq as iPad to hit stores in early April
* Indexes up: Dow 0.6 pct, S&P 0.7 pct, Nasdaq 0.7 pct
* For up-to-the-minute market news, click [STXNEWS/US]
By Chuck Mikolajczak
NEW YORK, March 5 (Reuters) - U.S. stocks rose on Friday as
data showed U.S. employers cut a smaller number of jobs than
expected last month, signaling a continued recovery in the
economy.
February's non-farm employment numbers showed a cut of
36,000 jobs for February against expectations in a Reuters
survey for a loss of 50,000 jobs. The unemployment rate
remained unchanged at 9.7 percent, although the impact of
inclement weather on the figures was unclear. For details,
[ID:nN04107795]
Analysts were concerned the severe weather that affected
large swaths of the country would cause a large drop in
payrolls. [ID:nN04252324]
"It's really seems like it's off to the races here," said
Terry Morris, senior vice president and senior equity manager
for National Penn Investors Trust Company in Reading,
Pennsylvania.
"It's an indication the market believes we are in a
recovery and it's going to continue."
Diversified manufacturer 3M Co <MMM.N> gained 0.9 percent
to $81.73 after the jobs data showed the manufacturing sector
added 1,000 jobs in February.
The Dow Jones industrial average <.DJI> gained 63.64
points, or 0.61 percent, to 10,507.78. The Standard & Poor's
500 Index <.SPX> gained 7.51 points, or 0.67 percent, to
1,130.48. The Nasdaq Composite Index <.IXIC> gained 16.81
points, or 0.73 percent, to 2,309.12.
The Nasdaq was boosted by a 3 percent gain in Apple Inc
<AAPL.O> after it said the first iPad computers will be in U.S.
stores in early April. For details, see [ID:nN05202748]
For the week, the S&P is up 2.5 percent, the Dow up 1.9
percent and the Nasdaq up 3.4 percent.
(Editing by Padraic Cassidy)