Energy shares, tame jobs data lift Dow

By Kristina Cooke

NEW YORK (Reuters) -The Dow rose on Thursday, a day after the blue-chip average entered a bear market, on relief payrolls data was not as weak as some had feared and with another record oil price boosting energy shares.

The broader S&P 500 index was little changed in a pre-holiday shortened trading session and the Nasdaq composite index fell after graphics chip maker Nvidia (NVDA.O: Quote, Profile, Research) slashed its outlook, citing global market weakness. That raised concerns about the outlook for the computer industry.

Oil jumped above $145 a barrel before the Independence Day holiday on Friday when U.S. markets will be closed. Exxon Mobil Corp (XOM.N: Quote, Profile, Research) and Chevron Corp (CVX.N: Quote, Profile, Research) gave the biggest boosts to the Dow and the S&P 500.

The Labor Department said employers cut 62,000 workers from their payrolls in June for the sixth straight monthly decline, roughly in line with economists' expectations.

"The (payrolls) numbers weren't as bad as they could have been," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "Some people had feared 100,000 in job losses or more."

Shares of big manufacturers like 3M (MMM.N: Quote, Profile, Research) rose after the jobs report, aiding the Dow's advance.

Aetna Inc (AET.N: Quote, Profile, Research) and Health Net Inc (HNT.N: Quote, Profile, Research) shares kept gains in check on the S&P 500 after Goldman Sachs recommended clients sell the two health-insurers' stocks.

The Dow Jones industrial average .DJI rose 73.03 points, or 0.65 percent, to 11,288.54, while the Standard & Poor's 500 Index .SPX eked out a gain of 1.38 points, or 0.11 percent, to 1,262.90. The Nasdaq Composite Index .IXIC fell 6.08 points, or 0.27 percent, to 2,245.38.