(CNBC) U.S. stocks closed more than 1 percent higher Friday, recovering from an initial decline of more than 1.5 percent, as investors digested higher oil prices and a weaker-than-expected jobs report.
"The poor employment report put a footing to the market because it provided a way for the market to understand where it is," said Robert Pavlik, chief market strategist at Boston Private Wealth. It "really did accomplish something even though it was weaker-than-expected. ... Now you have a market that I see is on better footing going into earnings season."
The major averages closed at session highs, with the Dow Jones industrial average up 200 points.
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