U.S. stocks rose on Friday as investors believed that data showing the economy shed far fewer jobs than expected last month has brightened the profit outlook.

* But the three major U.S. stock indexes ended well off the 15-month highs hit earlier in the session as investors wrestled with the prospect that the Federal Reserve might have to raise interest rates as the economy recovers.

* Based on the latest data, the Dow Jones industrial average <.DJI> unofficially ended up 22.07 points, or 0.21 percent, at 10,388.22. The Standard & Poor's 500 Index <.SPX> gained 5.97 points, or 0.54 percent, to close unofficially at 1,105.89. The Nasdaq Composite Index <.IXIC> added 21.21 points, or 0.98 percent, to end unofficially at 2,194.35.

* For the week, the Dow rose 0.8 percent, the S&P 500 climbed 1.3 percent and the Nasdaq advanced 2.6 percent.

* The U.S. dollar's strength caused investors to unwind some of their dollar carry-trade positions, pressuring stocks. Since the broader market hit a bottom in early March, stocks and the dollar have had a strong inverse correlation. The U.S. dollar index <.DXY> shot up 1.5 percent.

(Reporting by Ellis Mnyandu; Editing by Jan Paschal)