March 8 (Reuters) - The S&P 500 and the Nasdaq opened

higher on Friday after data showing a rise in the unemployment

rate and moderation in wage gains boosted expectations that the

Federal Reserve could begin cutting interest rates by the middle

of this year.

The Dow Jones Industrial Average fell 14.55 points,

or 0.04%, at the open to 38,776.80.

The S&P 500 opened higher by 7.10 points, or 0.14%,

at 5,164.46, while the Nasdaq Composite gained 48.73

points, or 0.30%, to 16,322.10 at the opening bell.