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US stocks gain after mixed jobs data

US stocks added solid gains in early trade Friday after a mixed jobs report showed lower-than expected job generation in January but revisions pushed last year's numbers sharply higher.

Thirty minutes into trade, the Dow Jones Industrial Average was up 102.83 points (0.74 percent) at 13,963.41.

The broad-based S&P 500 added 9.15 points (0.61 percent) at 1,507.26, while the tech-heavy Nasdaq Composite gained 17.35 (0.55 percent) at 3,159.48.

The markets took in stride the January jobs numbers: unemployment ticked up a notch to 7.9 percent and only 157,000 jobs were generated, fewer than expected.

But revised data for all of 2012 gave a much better picture, with monthly net job generation at 181,000 instead of the earlier figure of only 153,000.

"A slight miss on payrolls in January was more than offset by upward revisions to the previous couple of months," said Jim O'Sullivan at High Frequency Economics.

ExxonMobil shares fell 0.2 percent after it reported a six percent gain in net income for the fourth quarter but said oil and gas production had dropped five percent from a year earlier.

Chevron added 0.6 percent after it beat analysts' forecasts in its earnings.

But Merck shares sank 3.4 percent after it turned in a 7.3 percent fall in fourth-quarter profit and it forecast a slight fall in profits for this year.

Anheuser-Busch InBev rebounded 1.9 percent after a sharp fall on Thursday following the Justice department's move to block its takeover of Mexican brewer Grupo Modelo.

In tech shares, sagging computer maker Dell powered up 3.5 percent amid talk that its plan to take itself private could be announced next week.

Netflix meanwhile added 3.3 percent.

Bond prices surged. The yield on the 10-year US Treasury fell to 1.94 percent from 1.99 percent late Thursday, while the 30-year fell to 3.14 percent from 3.17 percent. Bond prices and yields move inversely.