Wall ends up over 13,000

         NEW YORK _ Wall Street turned in a mixed performance Friday
as investors set aside some initial enthusiasm over a
stronger-than-expected jobs report to lock in some of their recent
gains. Blue chip stocks logged their third weekly advance in a row
as investors grew more confident about the economy's ability to
outrun a deep downturn.
    Better-than-expected reports on employment and the pace of
orders at factories offered the market fresh evidence that the
economy might not be in as worrisome a state as many had feared.
But a surprise quarterly loss from Sun Microsystems Inc. weighed on
the tech-laden Nasdaq composite index.
    Still, buyers outnumbered sellers after a government employment
report showed the nation's employers cut far fewer jobs than
expected last month, stirring optimism about the buoyancy of the
economy. Nonetheless, after sharp gains Thursday, some investors
decided to take some money out of stocks.
    Dave Rovelli, managing director of U.S. equity trading at
Canaccord Adams, said stocks pulled back from the day's highs as
investors opted to hold on to gains following a decent run-up.
    ``This is just normal profit-taking,'' he said, adding: ``Sun
Microsystem's earnings today didn't help the cause.''
    The employment report Friday came at the end of a critical week
for Wall Street. While corporate results dominated in previous
weeks, investors this week focused on the Federal Reserve's
decision Wednesday to lower interest rates and on reports on the
gross domestic product, personal spending and factory orders.
    The Fed's decision to lower rates by a quarter point to 2
percent and widespread speculation that it will stand pat at future
meetings buoyed investors' confidence. The Fed's comments helped
shore up an anemic dollar and calmed some fears about inflation.
    According to preliminary calculations, the Dow Jones industrial
average rose 48.20, or 0.37 percent, to 13,058.20 after being up
more than 100 points early in the session.
    Broader stock indicators ended mixed. The Standard & Poor's 500
index rose 4.56, or 0.32 percent, to 1,413.90, while the Nasdaq
slipped 3.72, or 0.15 percent, to 2,476.99.
    Advancing issues outnumbered decliners by about 3 to 2 on the
New York Stock Exchange, where volume came to 1.27 billion shares
compared with 1.4 billion shares traded Thursday.
    The moves Friday came a day after a rising dollar and falling
oil prices emerged as promising signs for the economy. The Dow
soared nearly 190 points Thursday to close above 13,000 for the
first time since Jan. 3.
    Bond prices declined Friday as some investors moved into stocks
from the safety of government debt. The yield on the benchmark
10-year Treasury note, which moves opposite its price, rose to 3.83
percent from 3.77 percent late Thursday.
    Light, sweet crude rose $3.80 to settle at $116.32 per barrel on
the New York Mercantile Exchange. The dollar was mixed against
other major currencies, while gold prices rose.
    Recent months have brought spikes in food and energy costs that
have made it harder for many consumers. Wall Street is concerned
that rising prices and a weak housing market would force consumers,
who account for about 70 percent of U.S. economic activity, to
curtail spending.
    But with oil prices pulling back sharply Thursday, stocks took
off, and they continued their run into Friday's session before the
rally stalled.
    Rovelli said investors apparently felt the recent run-up had
occurred too quickly.
    ``The environment is not that great,'' he said, referring to
energy prices that remain elevated even off their highest levels.
``We're overbought. We were overdue for some profit-taking.''
    The Labor Department's report that employers cut 20,000 jobs in
April was a relief to Wall Street, which had been expecting
payrolls to fall by 75,000 jobs. The unemployment rate fell to 5
percent from 5.1 percent. This marked the fourth straight month of
job losses, but the data signaled that perhaps the economy might be
resisting falling into recession.
    A separate report showing that factory orders increased in March
following two months of declines added to an upbeat mood. The
Commerce Department said U.S. manufacturers saw orders increase 1.4
percent in March. Economists expected a 0.2 percent increase after
declines in January and February.
    Meanwhile, the Fed said it will work with European central banks
to expand efforts to deal with the global credit crisis. The
central bank will boost the amount of emergency reserves it
supplies to U.S. banks to $150 billion in May, up from the $100
billion it supplied in April.
    In corporate news, Sun Microsystems shares fell $3.69, or 23
percent, to $12.64 after the company stunned investors late
Thursday by reporting a loss for the third quarter. The server and
software maker blamed the loss on sagging sales to U.S.
consumer-oriented companies that are delaying big-ticket spending.
    Overseas, Japan's Nikkei stock average rose 2.05 percent.
Britain's FTSE 100 finished up 2.11 percent, Germany's DAX index
added 1.36 percent, and France's CAC-40 rose 1.46 percent.