NEW YORK - Stocks ended modestly higher in light trading as investors found some positives for the market in a surprisingly weak jobs report.

The Labor Department's report Friday that unemployment has risen above 10 percent for the first time since 1983 isn't welcome news but it did reassure investors that the Federal Reserve will hold interest rates lower. The pace of job losses is also slowing.

The Dow Jones industrials are up 18 at 10,023. The Standard & Poor's 500 index is up 3 at 1,069, while the Nasdaq composite index is up 7 at 2,112.

Major stock indicators jumped 3 percent for the week.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange. Volume was 1.1 billion compared with 1.3 billion Thursday.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) - Stocks zigzagged in light trading Friday as investors found some positives for the market in a surprisingly weak jobs report.

The Labor Department said employers cut more jobs than expected in October, pushing the unemployment rate above 10 percent for the first time since 1983. However, the pace of job losses slowed.

The rise in joblessness, while not welcome news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates lower for some time. That at times weakened demand for the dollar, which gave a boost to stocks.

"We got data today that suggests that interest rates are going to be on hold for a while," said Max Bublitz, chief strategist at SCM Advisors.

When the dollar is weaker, U.S. goods are cheaper for buyers overseas. Companies that do business overseas also get a profit boost when their earnings are translated back into dollars.

Safe-haven assets like Treasurys were mixed. Oil prices tumbled and gold topped $1,100 an ounce for the first time. Gold benefits when investors are worried about a weak dollar and inflation.

The jobs report bodes poorly for consumer spending, a key driver of the economy. Economists say stronger consumer spending will be necessary to sustain a recovery.

The Labor Department said employers cut 190,000 jobs last month, fewer than the 219,000 jobs lost in September, but more than forecast. The unemployment rate jumped to 10.2 percent from 9.8 percent in September.

The market has been expecting unemployment to top 10 percent before peaking. But the pace of job losses has accelerated and the rate is likely to go higher.

In the final hour of trading, the Dow Jones industrial average slipped 1.13, or less than 0.1 percent, to 10,004.83.