Wall St. pares gains after weaker-than-expected jobs data

Wall Street pared gains in early afternoon trading on Friday as investors feared the weaker-than-expected August employment report will not be enough to dissuade the Federal Reserve from raising interest rates as soon as this month. U.S. nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July, with job cuts in manufacturing and construction, the Labor Department said. "This mixed jobs report puts the Fed in a tricky situation," said Mohamed El-Erian, ch