Wall Street opens flat after weak payroll report

NEW YORK (Reuters) - U.S. stocks opened flat on Friday, as the August payroll report came in much weaker than expected, though it allayed investor concerns of an imminent interest rate hike by the Federal Reserve.

The Dow Jones industrial average <.DJI> fell 11.14 points or 0.07 percent, to 17,058.44, the S&P 500 <.SPX> lost 0.57 points or 0.03 percent, to 1,997.08 and the Nasdaq Composite <.IXIC> dropped 0.40 points or 0.01 percent, to 4,561.89.

(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)