May 5 (Reuters) - The S&P 500 and the Nasdaq Composite opened higher on Friday after a report showed U.S. job growth accelerated sharply last month, but a drop in IBM kept the Dow in negative territory.

The Dow Jones Industrial Average was down 7.14 points, or 0.03 percent, at 20,944.33.

The S&P was up 5.14 points, or 0.22 percent, at 2,394.66 and the Nasdaq was up 16.51 points, or 0.27 percent, at 6,091.84. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)

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