By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks eked out marginal gains amid thin volumes on Friday, but it was still enough to register fresh record highs for two of the three main benchmarks, capping a third straight week of gains.

The S&P 500 and Dow Jones Industrial Average closed at record highs for the third consecutive day. However, investors' reaction to the latest employment data, showing 214,000 new jobs were added last month was mostly muted.

The U.S. Bureau of Labor Statistics report showed that the economy added 214,000 jobs in October, while the unemployment rate ticked down to 5.8% -- a broadly positive reading. Although the headline number was below the consensus of 243,000, the upward revisions to the previous two months more than made up for it.

The latest jobs data should offer Wall Street investors a confidence-building, Goldilocks scenario since the data neither points to a stalling recovery nor one that is overheating.

The S&P 500 (SPX) closed fractionally higher at a new record level of 2,031.92 and gained 0.7% over the week. Dow industrial (DJI) added 19.46 points, or 0.1% to 17,573.93 and ended the week 1% higher.

Meanwhile, the Nasdaq Composite (RIXF) closed 5.94 points, or 0.1%, lower at 4,632.53 and was flat over the week.

"The [jobs] report is positive. The economy is still adding more than 200,000 jobs a month, but at the same time there is no indication that it is overheating as the wage growth remains muted. There is no reason for the Fed to get hawkish," said Brad Sorensen, director of market and sector research at Schwab.

The Bureau of Labor Statistics report showed the U.S. created 214,000 jobs in October, nudging the unemployment rate down a notch to 5.8%, as many companies added workers to gear up for the holiday season. The economy has now added 200,000 workers or more for nine straight months, a feat last accomplished in 1994.

Analysts greeted the report as a positive development, pointing to revisions and other details, such labor participation:

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Fed speakers in the mix: Federal Reserve Chairwoman Janet Yellen and her colleagues continue to prepare the market for an increase in interest rates. In speeches in Paris on Friday, Yellen and New York Fed President William Dudley appeared to prepare the markets for the eventuality of rising rates. Dudley said rates likely will be hiked next year, as many market watchers anticipate.

Healthcare stocks hit: Health insurers were hit after the news that President Barack Obama's landmark healthcare reform is heading back to the US Supreme Court. The Health Care Select Sector SPDR fund fell 1%.

Humana Inc. (HUM) shares was already hit after the health insurer posted a profit that fell short of forecasts. Shares closed down 6.6%.

Walt Disney Co.(DIS) fell 2.2% after the company's earnings fell slightly short of expectations, while revenue was a slight beat.

Zynga Inc.(ZNGA) rose 3% after its third-quarter earnings met Wall Street forecasts and sales came in slightly higher.

Sears Holdings Corp.(SHLD) soared 31% after saying it may form a real estate investment trust involving 200 to 300 stores as it seeks to boost its balance sheet.

King Digital Entertainment PLC(KING) rose 4% after the "Candy Crush" creator said third-quarter results topped expectations and announced a stock-buyback plan.

Berkshire Hathaway Inc. (BRK/A) (BRKA) reports after the close. (Read more in Movers and Shakers http://www.marketwatch.com/story/berkshire-hathaway-humana-ew-scripps-earnings-in-focus-2014-11-07.)

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In other markets, the dollar (USDJPY) pulled back to Yen114. Oil (CLZ4) rose, but strategists said they don't really expect any gains to last, and support at $77 a barrel is shaky. Europe stocks closed lower. The Nikkei 225 index rose 0.5% to gain 2.8% for the week.

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