Wall Street pares gains after weaker-than-expected jobs data

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, chief economic adviser at Allianz in Newport Beach, California. "It's not all around strong enough to assure a September interest rate hike.