NEW YORK - U.S. stocks are closing mixed after a strong October jobs report prompted investors to position themselves for higher interest rates coming as early as next month.
Employers added 271,000 jobs -- the most in 10 months -- across a range of industries. This could lead the Federal Reserve to raise interest rates in December, marking an end to nearly seven years of near-zero rates.
Bank stocks rose while dividend-paying stocks like utilities sank.
The Dow Jones industrial average rose 47 points, or 0.3 percent, to close at 17,910.
The Standard & Poor's 500 index was down 1 point to 2,099. The Nasdaq composite rose 19 points, or 0.4 percent to 5,147.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.33 percent.