By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks advanced in volatile trade on Friday as investors digested a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes. The S&P 500 and the Nasdaq each rose as much as 2% while the Dow Jones Industrial Average climbed as much as 1.9% on the heels of the closely watched labor market report, before paring gains. The report showed an uptick in the unemployment rate in October, indicating some signs of slack may finally be starting to emerge in the job market and give the Fed room to downsize its rate hike…