At the opening bell, the Dow Jones industrial average was up 4.62 to 10,916.56. The Nasdaq added 20.26 to 2,130.75. Investors also awaited May manufacturing numbers and mulled over more profit warnings from the semiconductor sector.
Jobs data was better than expected, as the unemployment rate fell to 4.4 percent. May nonfarm payroll numbers remained weak, however. The number of workers on U.S. payrolls outside the farm sector fell by 19,000--a modest drop that was close to the 17,000 decline expected. May's average hourly wages were up 0.3 percent as forecast.
The National Association of Purchasing Management also is to issue its report on May manufacturing after Friday's opening bell. The report is expected to show a slight increase to 43.7 percent from 43.2 percent in April. That would indicate a small expansion of the overall economy, although manufacturing would still be declining.
Also due out is an April report on construction spending from the government. It's expected to show a 0.2 percent gain, much slower than the 1.3 percent advance in March.
The day's most important economic reports--on employment and manufacturing for May--will help investors gauge the state of the U.S. economy and how likely the Federal Reserve is to slash interest rates again to stop its downward curve.
Stocks to watch
The 25 percentage point slide implies second-quarter sales of about $215.6 million, 9 percent below the mean sales forecast of $237.8 million, as compiled by First Call.
The company cited a greater-than-expected drop in sales outside the United States, in what is its second consecutive profit warning amid one of the worst slumps in the chip industry.
Reuters contributed to this report.