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Midday Update: Stocks Trim Losses But Remain Underwater Following June Jobs Report

Wall Street has pared most of its early losses stemming from an underwhelming April jobs report this morning but were still in negative territory and were on course to finish a second consecutive week in the red.

Stocks opened with steep losses Friday after the Labor Department reported a below consensus 160,000 rise in non-farm payrolls. But thanks to the Dow Jones Industrial Average holding above its 50-day moving average along with a rebound in oil prices , the blue-chip index was back near its break-even mark, assisted by gains in energy and material stocks.

European markets finished mixed with the UK FTSE pulling off a positive close while its EU counterparts closed modestly lower. The disappointing U.S. jobs report spooked risk-adverse investors across the globe on concerns about the health of the global economy. In addition, a negative reaction from the dollar to the jobs report supported gains in the euro, amplifying selling pressure on euro-zone equities.

Crude oil was up $1.00 to $45.32 per barrel. Natural gas was up 2 cents to $2.09 per 1 million BTU. Gold was up $21.70 to $1,294 per ounce, while silver was up 28 cents to $17.61 per ounce. Copper was up 1 cents to $2.17 per pound.

Among energy ETFs, the United States Oil Fund was up 1.83% to $11.10 with the United States Natural Gas Fund was up 0.44% to $6.77. Among precious-metal funds, the Market Vectors Gold Miners ETF was up 4.96% to 25.37 while SPDR Gold Shares were up 1.13% to $123.45. The iShares Silver Trust was up 1.09% to $16.69.

Here's where the U.S. markets stood at mid-day:

NYSE Composite Index down 18.83 (-0.18%) to 10,262.49

Dow Jones Industrial Average down 28.38 (-0.16%) to 17,632.33

S&P 500 down 7.54 (-0.37%) to 2,043.09

Nasdaq Composite Index down 27.21 (-0.58%) to 4,689.89

GLOBAL SENTIMENT

Nikkei 225 Index down 0.25%

Hang Seng Index down 1.66%

Shanghai China Composite Index down 2.82%

FTSE 100 Index up 0.14%

CAC 40 down 0.42%

DAX up 0.18%

NYSE SECTOR INDICES

NYSE Energy Sector Index up 0.36%

NYSE Financial Sector Index down 0.11%

NYSE Healthcare Sector Index down 1.31%

UPSIDE MOVERS

(+) SWIR (+23.37%) Reported better-than-expected quarterly results

(+) SYN (+22.73%) Q1 loss narrowed from year-ago period, will present positive results from SYN-010 Phase 2 trial at DDW 2016 this month

(+) GV (+19.80%) Reported strong Q1 results; revenue increased 17%, swung to a profit

(+) YELP (+18.63%) Beat Wall Street estimates for Q1 results

(+) HLF (+12.35%) Reported better-than-expected Q1 results

(+) SPPI (+9.84%) Reported a $0.01 profit beating estimates by 34 cents on above consensus revenue

DOWNSIDE MOVERS

(-) KMPH (-53.41%) FDA votes against abuse-deterrent labelling for pain medication Apadaz

(-) GST (-41.94%) Q1 loss was less than expected, but revenue missed estimates

(-) ENDP (-40.28%) Lowered FY16 guidance below street estimates

(-) BEBE (-32.53%) Fiscal Q3 loss widens, announced plans to close 40 additional stores in 2017

(-) IMPV (-27.38%) Q1 loss narrowed, but issued weak sales guidance for Q2

(-) SQ (-19.88%) Missed Q1 earnings estimates but raised FY16 guidance

(-) FEYE (-18.59%) Posted a wider loss than expected, cut its full-year guidance and replaced CEO Dave DeWalt with Kevin Mandia

(-) UNXL (-15.51%) Reported wider-than-expected Q1 loss on soft revenue

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

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

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