Wall Street rises despite weak January jobs data

Reuters
A trader gives a thumbs up while he works on the floor of the New York Stock Exchange February 3, 2014. REUTERS/Brendan McDermid

NEW YORK (Reuters) - U.S. stocks rose on Friday, giving the S&P 500 its first weekly gain in four as the impact of a weak reading on the labor market was dulled by harsh weather conditions and traders focused on expectations of further economic strength. Based on the latest available data, the Dow Jones industrial average rose 165.55 points or 1.06 percent, to end unofficially at 15,794.08. The S&P 500 gained 23.59 points or 1.33 percent, to finish unofficially at 1,797.02. The Nasdaq Composite added 68.739 points or 1.69 percent, to close unofficially at 4,125.861. For the week, all three indexes rose, with the Dow up 0.6 percent, the S&P 500 up 0.8 percent and the Nasdaq up 0.5 percent. (Reporting by Caroline Valetkevitch; Editing by Jan Paschal)