Stocks wobble after a surprisingly strong jobs report raises prospects of an interest rate hike

U.S. stocks wobbled Friday after a surprisingly strong jobs report raised expectations for a Federal Reserve rate hike. The Labor Department said employers unexpectedly added 162,000 jobs in August versus 65,000 forecasts, while the unemployment rate held at 4.1%. In early trading, the S&P 500 fell 0.1% and the Dow dropped 211 points, or 0.4%, by 10:05 a.m. Eastern; the Nasdaq edged up 0.1%. Technology helped cushion losses, with Nvidia up 2.5%, Micron up 4.1% and Sandisk up 6.1%. Lululemon sank 17.1% after reporting results below estimates and lowering its fiscal outlook. Treasury yields rose, with the 10-year at 4.77% and the 2-year at 4.37%. Markets increasingly priced in a hike by September, while oil prices fell.