Last checked at 
* Nonfarm payrolls increase by 313,000 in February
* Average hourly earnings rise 0.1 percent
* Indexes higher: Dow 1.32 pct, S&P 1.27 pct, Nasdaq 1.33pct
By Ankur Banerjee and Parikshit Mishra
March 9 (Reuters) - The three major
Helping sentiment on a day the bull market for stocks turnednine were signs of a potential breakthrough in nuclear tensionsin the Korean peninsula and President Donald Trump's softenedstance on tariffs.
"You got sort of a Goldilocks report with strongeremployment, coupled with modest wage growth, but not enough thatforces the Fed to act more rapidly than they otherwise would,"said Scott Clemons, chief investment strategist at BrownBrothers Harriman in
Strong jobs data last month fueled speculation that higherwages could lead to faster interest rate increases by theFederal Reserve, rattling global equities market.
At 12:42 a.m. ET, the Dow Jones industrial averagewas up 327.75 points, or 1.32 percent, the S&P 500 gained34.78 points, or 1.27 percent.
The Nasdaq Composite was up 98.82 points, or 1.33percent, at 7,526.76. The index touched record high of 7,531.47.
While the Dow is up 8 percent from the February lows, itremains about 5 percent off record highs seen in January. TheS&P is about 3 percent off its January record highs but up morethan 9 percent from last month's lows.
Yet, the bull run appears poised to set the record as thelongest in history, buoyed by global economic growth andstronger company earnings.
Friday's gains were broad-based, with Microsoft andApple Inc giving the biggest boost to the S&P andNasdaq.
Nonfarm payrolls jumped by 313,000 jobs last month, theLabor Department said, its biggest increase in more than 1-1/2years.
Average hourly earnings edged up 0.1 percent, a slowdownfrom the 0.3 percent rise in January. That lowered theyear-on-year increase in average hourly earnings to 2.6 percentfrom 2.8 percent in January.
Worries that the hefty tariffs on steel and aluminum couldignite a global trade war had roiled markets since lastThursday, with the exit of chief economic adviser Gary Cohnintensifying the concerns.
Among bigger movers, toymakers Hasbro and Mattelwere lower after sources told Reuters that retailer Toys'R' Us is preparing for a potential liquidation.
Tesla fell 1.2 percent, following the exit of itschief accounting officer and a Morgan Stanley note on risingcompetition.
Goldman Sachs Group Inc shares were up 1 percentafter the Wall Street Journal reported Lloyd Blankfein ispreparing to step down as the bank's chief executive as soon asthe end of the year.
Advancing issues outnumbered decliners on the NYSE by 2,048to 796. On the Nasdaq, 2,042 issues rose and 825 fell.(Reporting by Ankur Banerjee and Parikshit Mishra in Bengaluru;Editing by Sriraj Kalluvila)
