INVESTING

4:35 pm : The best monthly jobs report in four years couldn't keep sellers from sending stocks to their fourth straight loss, which contributed to the stock market's worst weekly performance in one year.

Despite persistent weakness overseas amid continued contagion concerns, stocks managed to attract some modest support as some speculated that a rebound may be in order after the stock market sank some 6% during the course of the three previous sessions. The worst of that loss came Thursday, when the Dow's intraday drop of almost 1000 points was blamed on the failure of computerized trades and electronic networks. In response, both the NYSE and Nasdaq cancelled trades from a 20 minute time block that saw prices greater than or less than 60% away from the consolidated last print price.

However, stocks were unable to sustain the early bid. News that nonfarm payrolls for April surged 290,000, the largest increase since March 2006, couldn't even secure support for stocks.

As an aside, the headline unemployment rate climbed to 9.9% from 9.7% as a result of workers re-entering the workforce.

With sellers reaffirming control, stocks were unable to make anything more than a few upward charges, each of which proved fruitless in the face of resistance.

Heavy volume to the downside made for widespread weakness. As such, nearly 90% of the names in the S&P 500 logged losses and declining share volume on represented 85% of the NYSE's total trading volume, which surpassed 2 billion shares for the second straight session. Volume on the NYSE has not broken 2 billion shares in back-to-back sessions in more than one year. What's more, neither of those two sessions have been options expirations sessions.

Such steep losses amid such heavy volume has caused volatility to spike to its highest level in more than a year. The Volatility Index settled this session roughly 25% higher.

The heightened volatility has given support to gold, which closed this session at $1213 per ounce, up 1.3% for the session. Gold prices actually set a new 2010 high of almost $1215 per ounce earlier in the session.

Treasuries failed to secure support, though. The benchmark 10-year Note fell several ticks, such that its yield moved back above 3.40%.

Meanwhile, the stock market booked its worst closed in two months. That contributed to a weekly loss of more than 6%, which makes for the stock market's worst weekly slide in one year.

Advancing Sectors: (None)
Declining Sectors: Tech (-2.3), Industrials (-2.1%), Consumer Discretionary (-1.9%), Energy (-1.5%), Health Care (-1.4%), Materials (-1.3%), Financials (-1.2%), Telecom (-0.6%), , Utilities (-0.6%), Consumer Staples (-0.5%) DJ30 -139.89 NASDAQ -54.00 NQ100 -2.3% R2K -2.9% SP400 -2.5% SP500 -17.27 NASDAQ Adv/Vol/Dec 577/4.11 bln/2115 NYSE Adv/Vol/Dec 887/2.41 bln/2229

3:30 pm : The CRB Commodity Index shed 0.6% to log its fourth straight loss. It finished this week 5.9% lower, which makes for its worst weekly loss in one year.

Crude prices continued to roll over. Oil prices had been above $87 per barrel at the beginning of the week, but it closed the week at $75.11 per barrel. This session alone the energy component shed 2.6% to close below its 200-day moving average and at its lowest level since February.

Natural gas garnered support, though. The price of the forward contract climbed 2.2% to $4.02 per MMBtu.

Gold prices continued their ascent. The yellow metal closed with a 1.3% gain at $1213 per ounce after it had set a new 2010 high of almost $1215 per ounce.

Silver was even stronger this session. It spiked 6.2% to $18.61 per ounce, which puts it slightly below the 2010 high of $18.89 per ounce that was set earlier this week. DJ30 -152.96 NASDAQ -56.01 SP500 -17.25 NASDAQ Adv/Vol/Dec 594/3.50 bln/2099 NYSE Adv/Vol/Dec 868/1.89 bln/2236

3:00 pm : Participation remains strong as the final hour of trade approaches. Based on the current pace of things, trading volume will likely break 2 billion shares this session. Should that prove to be the case, it would mark the first time in more than one year that volume on the NYSE has broken 2 billion shares in back-to-back sessions. What's more, neither of those two sessions have been options expirations sessions.

Most volume over the past two sessions has been toward the downside, though. In turn, weakness has been widespread. DJ30 -144.50 NASDAQ -52.68 SP500 -16.45 NASDAQ Adv/Vol/Dec 621/3.23 bln/2059 NYSE Adv/Vol/Dec 894/1.73 bln/2204

2:30 pm : The stock market has drifted to a fresh afternoon low. Declining issues now outnumber advancers by more than 6-to-1 in the broad-based S&P 500. As things currently stand, the stock market is on track for its fourth straight loss, each of which has exceeded 1%. In turn, the stock market is on track for a weekly loss of more than 6%, which would make for the stock market's worst weekly slide in one year. DJ30 -152.66 NASDAQ -50.74 SP500 -17.29 NASDAQ Adv/Vol/Dec 665/2.98/1998 NYSE Adv/Vol/Dec 890/1.56 bln/2204

2:00 pm : With a 0.5% loss against a basket of competing currencies, the dollar is back near its afternoon low. Most of the dollar's downturn comes as a result of a rally by the euro, which is at 1.2737 per dollar after it was at a one-year low of 1.2529 per dollar in the prior session. Despite the greenback's pullback this session, it is still up more than 3% week-to-date and more than 8% year-to-date.

A stronger dollar has acted as a headwind for stocks for several months now, but its weakness this session has had little effect on stocks since sellers remain in control of trade. DJ30 -89.93 NASDAQ -36.25 SP500 -10.10 NASDAQ Adv/Vol/Dec 759/2.80 bln/1899 NYSE Adv/Vol/Dec 1055/1.48 bln/2040

1:30 pm : Stocks continue to contend with sellers, who have put the broader market on the retreat once again. In turn, all three major indices are down with losses in excess of 1%.

Despite the stock market's slide, Treasuries have failed to move back into positive ground. Instead, the 10-year Note is down several ticks so that its yield is back above 3.40%. DJ30 -108.61 NASDAQ -41.04 SP500 -13.69 NASDAQ Adv/Vol/Dec 702/2.66 bln/1945 NYSE Adv/Vol/Dec 952/1.40 bln/2079

1:00 pm : Despite a stronger-than-expected payrolls report, stocks continue to whip along with losses in high volume, high volatility trade.

Stocks attracted a bit of support in the early going as some market participants speculated that a rebound may be in order after the stock market sank some 6% during the course of the past three sessions. The mood remained relatively positive amid news that April nonfarm payrolls increased by a stronger-than-expected 290,000, the largest increase since March 2006.

However, sellers quickly made their presence known as they sent the Dow down more than 300 points from its opening gain to its session low. Though stocks were able to bounce off of their lows, they have been unable to break back into positive territory as sellers seem to control the tone of trade.

Volatility remains strong amid this session's whipsaw action. At the moment the Volatility Index is up more than 6%, but it was up nearly 30% at its session high.

Trading volume remains strong, too. In fact, more than 1 billion shares have already exchanged hands on the NYSE.

Tech is the worst performing sector this session. The sector is down 1.5% at the moment. Particular weakness among large-cap tech issues has caused the Nasdaq to lag its counterparts for the entire session.

Defensive-oriented utilities have found favor this session. The sector is up 0.2% at the moment. It is the only sector to sport a gain.

An interest in safety continues to favor gold prices. Gold prices are currently up 1.1% to $1210.40 per ounce, just below the 2010 intraday high near $1212 per ounce, which was registered in the prior session. Silver has been even stronger this session. The precious metal is up 6.2% to $18.60 per ounce at the moment.

Oil prices are under stiff pressure for the fourth straight session. The price of crude was last quoted at $75.45 per barrel, down 2.2%. DJ30 -74.89 NASDAQ -30.75 SP500 -8.78 NASDAQ Adv/Vol/Dec 788/2.50 bln/1846 NYSE Adv/Vol/Dec 1046/1.30 bln/2034

12:30 pm : Once again the stock market attempted to move into positive territory but it ran into resistance as sellers make a stance near the neutral line.

While the broader market is back in the red, utilities stocks have managed to make their way to higher ground to sport a 0.3% gain. Utilities make up the only major sector to trade in positive territory.

Despite its relative strength this session, utilities, for the most part, have lagged the broader market this year. As such, the defensive-oriented sector is down nearly 6% year-to-date, while the S&P 500 is up fractionally year-to-date. DJ30 -76.33 NASDAQ -24.74 SP500 -7.56 NASDAQ Adv/Vol/Dec 890/2.32 bln/1719 NYSE Adv/Vol/Dec 1067/1.19 bln/2002

12:00 pm : The Dow and S&P 500 recently made another upward push, but the move fizzled out. Still, stocks are up substantially from their lows, which saw the Dow trade with a loss of 2.7%.

Trade in Europe has come to a close. The major bourses had traded with varied losses midway through their session, but pressure intensified as the U.S. indices fell under renewed selling. The European exchanges were unable to recover, such that Britain's FTSE fell 2.6%, Germany's DAX dropped 3.3%, and France's CAC plummeted 4.6%.

Weakness abroad and at home has taken the Dow Jones World Index down another 1.8%, which makes for its fourth straight loss of more than 1%. The index is down nearly 8% week-to-date. DJ30 -41.03 NASDAQ -21.42 SP500 -5.53 NASDAQ Adv/Vol/Dec 822/2.12 bln/1782 NYSE Adv/Vol/Dec 1005/1.05 bln/2065

11:30 am : A recent flurry of buying briefly put the Dow into positive territory after it had been down nearly 280 points, or roughly 2.7%, but pressure has picked back up to take the headline index back to a loss of roughly 100 points, or 1.0%.

There hasn't been any particular news item to account for the swings. Instead, the whipsaw action comes as a consequence of renewed volatility in the stock market. As such, the Volatility Index is up more than 12% at the moment. DJ30 -107.62 NASDAQ -36.07 SP500 -12.89 NASDAQ Adv/Vol/Dec 724/1.86 bln/1868 NYSE Adv/Vol/Dec 725/925 mln/2323

11:00 am : Selling pressure has intensified to take stocks deeper into negative territory, but the major indices have managed to make their way up modestly from session lows, which were reached roughly 30 minutes ago. Still, weakness remains widespread as all 10 major sectors in the S&P 500 trade with losses.

Tech, which is the largest sector by market weight, continues to trade with the worst loss. The sector is now down 2.1% as computer hardware and computer storage and peripherals fall 3.9% and 3.4%, respectively.

Financials, the second heaviest sector by market weight, have gone from a source of early strength to a loss of 1.6%. The sector's reversal comes as consumer finance plays push to a 3.6% loss and life and health insurers slide 3.2%.

With so many inclined to sell, Treasuries have garnered renewed support. As such, the benchmark 10-year Note has seen its yield drop to 3.35%. DJ30 -154.85 NASDAQ -51.02 SP500 -19.42 NASDAQ Adv/Vol/Dec 492/1.49 bln/2067 NYSE Adv/Vol/Dec 518/723 mln/2528

10:30 am : Oil prices continue to push sharply lower for the fourth straight session. The price of crude had dropped 4.0% on Tuesday, 3.3% on Wednesday, and 3.6% on Thursday. It is down another 3.2% to $74.65 per barrel this session.

Natural gas prices have managed to find higher ground, but they have started to give up some of their gains. The commodity was last quoted at $3.94 per MMBtu, up 0.2%. It traded as high as $3.99 per MMBtu earlier this morning.

Gold prices continue to benefit from an increased aversion to risk. The yellow metal has made its way up 0.5% to $1202.80 per ounce, which is slightly below the 2010 intraday high of almost $1212 per ounce that was set in the prior session.

Though its strength has been less consistent than that of gold, silver has also moved higher. The precious metal was last quoted at $17.66 per ounce, up 0.8%. DJ30 -253.65 NASDAQ -87.54 SP500 -26.97 NASDAQ Adv/Vol/Dec 506/1.04 bln/2008 NYSE Adv/Vol/Dec 533/528 mln/2481

10:00 am : A flurry of selling has undercut the stock market and taken it to a modest loss. Financials and materials have managed to remain in higher ground, though each sector has given up a chunk of its gain -- both sectors currently trade with a 0.2% gain.

Pressure has been more intense among tech stocks as the tech sector drops to a 1.3% loss, which is the worst of any other major sector. Particular weakness among large-cap tech has the Nasdaq on a sharper backslide than the broader S&P 500. DJ30 -11.33 NASDAQ -15.47 SP500 -2.03 NASDAQ Adv/Vol/Dec 1148/486 mln/1273 NYSE Adv/Vol/Dec 1508/254 mln/1384

09:45 am : Stocks are up modestly in the first few minutes of trade. Early leadership comes from financials and materials stocks. The two groups are up 1.3% and 1.4%, respectively.

On the other hand, health care and consumer staples are weak. The two groups make up the only two sectors that currently trade with a loss. They are down 0.3% and 0.1%, respectively.

Treasuries have also come under a bit of pressure in the early going. After strong buying in the prior session drove the yield on the 10-year Note below 3.40% for the first time this year, the Note's yield has made its way back up to 3.42%. DJ30 +39.83 NASDAQ +4.16 SP500 +3.73 NASDAQ Adv/Vol/Dec 1330/259 bln/1007 NYSE Adv/Vol/Dec 1680/158 mln/1124

09:15 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +0.80. Stock futures suggest that a mildly positive start is in order for this session. The uptick would come after stocks dropped in excess of 6% during the course of the past three sessions, the last of which saw the stock market fall more than 3%. Though the prior session's loss was the worst single-session percentage slide of 2010, it wasn't as bad as near 9% loss that it had seen during an intraday drop. That drop has been blamed on the failure of computerized trades and electronic networks. In turn, both the NYSE and Nasdaq have cancelled trades from a 20 minute time block that saw prices greater than or less than 60% away from the consolidated last print price yesterday. Aside from a retelling of the prior session's selloff, many market participants are discussing a better-than-expected Nonfarm Payrolls Report, which showed that 290,000 nonfarm jobs were added in April. The strong jobs report and uptick in stock futures has caused some to rotate out of the dollar after seeking safety in the greenback for four straight sessions.

09:05 am : S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: -0.30. U.S. equity futures remain above fair value, but Europe's primary bourses remain under pressure. In Germany, the DAX is down 0.4%. E.On is a primary source of weakness - its shares are down more than 6% on the German bourse. According to reports, Germany's Parliament approved a draft version of a plan to provide financial aid to Greece, which remains at the center of contagion concerns. In France, the CAC has fallen by 0.9%. Financial issues BNP Paribas and Societe Generale are under some of the most pressure. Meanwhile, Britain's FTSE is off by 0.2%. Barclays (BCS) has offered some support, but the broader market has had to contend with widespread weakness. As an aside, the general election in the U.K. has not resulted in a decisive winner. Asia's major market averages closed the week on a weak note. Japan's Nikkei fell 3.1%, which gave it a weekly loss of more than 6% even though it was closed for the first few sessions of this week. The latest round of selling came with more than 95% of the names in the Nikkei fell to a loss. In Hong Kong, the Hang Seng shed 1.1% to close the week with a loss of more than 5%. HSBC (HBC) was a primary source of weakness in Friday's trade. The Shanghai Composite dropped 1.9% Friday and more than 6% for the week. PetroChina (PTR) was a primary source of weakness in the final session of the week.

08:35 am : S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +2.50. Though still above fair value, stock futures have gyrated in the minutes around the 8:30 AM ET release of the government's official Nonfarm Payrolls Report. The latest government statistics showed that nonfarm payrolls increased by 290,000 in April. That was a pleasant surprise since an increase of 200,000 nonfarm payrolls had been expected. Nonfarm payrolls for the prior month were revised upward to reflect an addition of 230,000 nonfarm jobs. Despite the stronger-than-expected increase in nonfarm payrolls and the upward revision to figures for March, the Unemployment Rate increased from 9.7% to 9.9%, which is above the 9.8% that had been expected, as more people entered the labor force. The average workweek for April totaled 34.1 hours, which is in step with the 34.0 hour workweek that had been forecasted.

08:00 am : S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +2.00. The S&P 500 has fallen some 6% during the course of the past three sessions, the last of which was the worst single-session percentage drop of the year. Such selling has perpetuated further weakness in overseas markets, which remain jittery over Greece contagion concerns. Though Asia's major market averages have already closed with steep losses and Europe has had to contend with varied losses this session, U.S. stock futures have managed to attract some support. Meanwhile, the dollar's four-session streak of gains has been challenged by a rebound in the euro, which fell to a one-year low against the greenback in the prior session. The general tone among premarket participants appears positive, but the Employment Report for April could be a market mover. The report is due at the bottom of the hour.

06:58 am : S&P futures vs fair value: +7.90. Nasdaq futures vs fair value: +13.30.
06:58 am : Nikkei...10364.59...-331.10...-3.10%. Hang Seng...19920.29...-213.10...-1.10%.
06:58 am : FTSE...5250.85...-10.20...-0.20%. DAX...5874.58...-32.80...-0.50%.

Source : finance.yahoo.com