Closing Update: Stock Tumble After March Payrolls Report Fails to Overly Impress


Stocks fell hard Friday afternoon, with the major market gauges having one of their worst days in nearly two months. Shares of technology and consumer companies had the steepest declines although nine out of 10 of the industry sectors in the S&P 500 were lower for the day. Utilities were the only gainers, extending their 2014 advance.

Equities began the session with moderate gains after new jobs data showed a rebound in hiring last month, with U.S. employers adding 192,000 new working during March, the Labor Department reported today. The nation's unemployment rate remained steady at 6.7%, with a surge in new job-seekers entering the market offsetting the rise in hiring.

The payrolls report today also showed an uptick in worker hours, with the average workweek climbing by 12 minutes to 34.5 hours last month.

Crude oil for May delivery settled 85 cents higher at $101.14 per barrel while May natural gas fell 3 cents to finish at $4.44 per 1 million BTU. June gold rose $18.80 to $1303.40 per ounce while May silver added 18 cents to $19.97 per ounce. May copper was down a penny to $3.03 per pound.

Here's where the U.S. markets stood at the end of the day:

Dow Jones Industrial Index down 159.84 (-0.96%) to 16412.71

S&P 500 down 23.68 (-1.25%) to 1865.095

Nasdaq Composite Index down 110.01 (-2.60%) to 4,127.73


FTSE 100 was up 0.7% at 6,695.55

Hang Seng Index was down 0.2% at 22,510.08

Shanghai China Composite Index was up 0.19% at 10.79


(+) DSKX, (6.52%) Q4 net loss narrows as sales improve following internal restructuring.

(+) ATRM, (+5%) Acquires substantially all of the assets of KBS Building Systems Inc. along with affiliated entities.

(+) FLSR, (+1.8%) First Solar's price target raised to $24 at Citi Group.


(-) GPN, (-4.10%) Reports mixed Q3 results; raises FY14 earnings guidance.

(-) CREG, (-5.57%) COO resigns, effective March 31.

(-) ( OPTT ) (-22.11%) Prices public offering of 3.8 mln shares at $3.10 each, an 18% discount to the stock's Thursday closing price.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: OPTT

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