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MUMBAI: US markets closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high. The market was relatively flat in morni ng trade before sharply rising around noon, with all major indices gaining around 1 per cent.

The Dow Jones industrial average climbed 96.66 points, or 1.03 per cent, to end at 9,441.27. The Standard & Poor's 500 Index gained 13.16 points, or 1.31 per cent, to 1,016.40. The Nasdaq Composite Index rose 35.58 points, or 1.79 per cent, to close at 2 ,018.78.

Gains were broad-based, with technology shares leading the charge. Semiconductor stocks rose after Intel Corp's chief executive said aging personal computers and Microsoft's launch of Windows 7 will prompt companies to start spending on PCs next year.

But for the week, the Dow was down 1.1 per cent, the S&P 500 was off 1.2 per cent and the Nasdaq lost 0.5 per cent due to a sharp sell-off in the first three days of the week.

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