Wall Street cuts gains, turns negative

1 of 10. A trader works on the floor of the New York Stock Exchange following its reopening, October 31, 2012.

Credit: Reuters/Brendan McDermid

NEW YORK | Fri Nov 2, 2012 10:31am EDT

NEW YORK (Reuters) - Stocks cut their gains to turn negative on Friday despite a stronger-than-expected payroll report.

Still, the S&P remained on track for its best week of the past four.

The Dow Jones industrial average was down 42.77 points, or 0.32 percent, at 13,189.85. The Standard & Poor's 500 Index was down 1.89 points, or 0.13 percent, at 1,425.70. The Nasdaq Composite Index was down 8.43 points, or 0.28 percent, at 3,011.63.

(Reporting by Ryan Vlastelica; Editing by James Dalgleish)

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