NEW YORK (AP) _ Stocks were mostly higher today after a government report showed the U.S. economy surged into the new year pushing unemployment to a 30-year low.

At noon on Wall Street, the Dow Jones industrial average was up 0.93 to 11,014.37.

Broader stock indicators were also higher.

Moving into record territory, The Nasdaq composite index was up 54.41 to 4,265.39. The Standard & Poor's 500 index was up 4.85 to 1,429.82.

The Labor Department said today that employers added 387,000 jobs in January, pushing the unemployment rate down to 4 percent, its lowest level since 1970.

Meanwhile, average hourly earnings, a key gauge of inflation pressures, rose a slightly higher-than-expected 0.4 percent to $13.50 in January, the fastest pace since September.

Despite the rise in wages, investors apparently have faith that the Federal Reserve is in control of inflation. The central bank on Wednesday increased rates for the fourth time since June, and indicated more increases may be on the way.

``I think the steady hand by the Fed is helping fuel the rally,'' said Barry Berman, head trader for Robert W. Baird & Co.

Technology stocks continued to lead the way as investors move toward the stocks that performed best in 1999. Since the Fed began raising rates, the blue-chip Dow has risen just 4 percent, while the Nasdaq has soared 57 percent.

Leading the Dow higher was Intel, up 3 3/16 to 107 3/8, and General Electric, up 2 9/16 to 141 13/16.

On the Nasdaq, Yahoo! rose 3 to 362 3/8 and Cisco Systems rose 2 7/8 to 120 5/8.

Declining issues outnumbered advancers by a narrow margin on the New York Stock Exchange, where volume came to 464.9 million shares, down from Thursday's pace.

The Russell 2000 index rose 5.12 to 525.03