Wall Street was mixed in an erratic session today after a flurry of merger news failed to erase investors’ concerns that a recent run-up has left US stocks overbought.

US stocks advanced today in light trading as Wall Street recovered from the previous session’s selloff and awaited tomorrow’s expected interest rate hike from the Federal Reserve.

Broad-based gains in employment sent stocks higher today, with the Dow Jones industrials gaining more than 104 points as investors regained some confidence in the economy. However, interest rate concerns remain, and the markets finished mixed for the week.

A new round of strong earnings reports sent US stocks soaring for a second straight session Friday as investors shrugged off surprisingly slow growth in the nation’s gross domestic product.

Solid employment data failed to extend Wall Street’s rally today as renewed interest rate concerns spurred profit-taking and left stocks mixed.