Brazil stocks rise early

Brazil's stocks are rising in early trading, with expectations that market heavyweight Petrobras will release a solid earnings report.

The Ibovespa stock index jumped 1.9 percent to 38,053 in the first hour of trading.

That comes despite a dismal jobless report in the U.S. and mixed trading in Europe. Brazil often follows Wall Street and European markets.

But local issues drove the market Friday.

Investors are betting Petrobras Brasileiro SA will report nice profits later Friday. The state -run oil company represents 17 percent of the index and its shares climbed 2.3 percent.

Shares of Vale do Rio Doce _ the world's largest producer of iron ore _ are up 1.2 percent.