The verdict is in. Investors are not liking the jobs report. The major indexes are all at or near session lows as the unemployment report missed expectations by a wide margin. On positive to come from it is the fact that oil prices are diving under $100 per barrel. If that trend can last it could give a boost to consumers by removing some of the pain at the pump.
Outside of the lackluster domestic numbers, two elections will be closely watched this weekend. The major one is the French presidential election with Sarkozy seemingly heading for defeat. The other is Greek parliamentary elections. Both could have consequences for the EU and ECB rescue pacts that have already been drawn up.
Currently the Dow is off 16, the Nasdaq is down 60 and the S&P is off 22. [Read more...]