Stock Market Watch

Stocks Tumble in Early Trading

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Stocks are sinking in early trading today as investors digest a weaker than expected jobs report for the month of March.

The March jobs report, which was released last Friday, showed that the U.S. economy added 120,000 jobs, well below economists’ forecast of an increase of 203,000. The unemployment rate, meanwhile, fell to 8.2% last month.


The weaker than expected jobs report has cast doubts over the economic recovery in the U.S. The jobs report comes at a time when there are concerns about the euro zone debt crisis and a slowdown in China.

All three major indexes are sharply lower in early trading today. At last check, the Dow Jones was trading 1.03% lower at 12,925.58, the S&P 500 was trading 1.28% lower at 1,380.25, and the Nasdaq was trading 1.34% lower at 3,039.31.

All sectors in the S&P 500 are sharply lower in early trading today. Consumer Cyclical stocks are leading the losses in the S&P 500 in early trading. At last check, Consumer Cyclical stocks were trading 1.75% lower. Industrials are currently trading 1.67% lower, while Conglomerates are currently trading 1.39% lower. Energy stocks are down 1.23% in early trading. Financials are down 1.36%.

Among the major losers in early trading today are Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), which is currently trading 1.32% lower at $37.30, Bank of America Corporation (NYSE: BAC), which is currently trading 3.36% lower at $8.92, Exxon Mobil Corporation (NYSE: XOM), which is currently trading 1.21% lower at $83.79, and Molina Healthcare Inc. (NYSE: MOH), which is currently trading 22.56% lower at $27.11.

Among the major gainers in early trading today are AOL Inc. (NYSE: AOL), which is currently trading 43% higher at $26.34, The Greenbrier Companies (NYSE: GBX), which is currently trading 3.50% higher at $20.39, and Titan Machinery Inc. (NASDAQ: TITN), which is currently trading 5.34% higher at $28.78.

 

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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