Stocks Plummet on Jobs Report

Unemployment report fuels rally

(NEWSER) - Good news about the labor market fueled a rally in stocks today, the Wall Street Journal reports. Slowing declines in payrolls and a 0.1% drop in unemployment—both figures beat expectations—elevated investor sentiment. AIG jumped 22.2% after reporting a $1.8 billion quarterly profit. The Dow gained 113.81 points to close at 9,370.07. The Nasdaq rose 27.09 to 2,000.25, and the S&P 500 added 13.40 to close at 1,010.48. More»

(NEWSER) - The markets stalled today even as the Dow flirted with its peak for the year, the Wall Street Journal reports. An early rally on better-than-expected job loss data lost steam on news that the unemployment rate itself grew to its highest since 1983. And insiders aren’t sure that oil and construction gains have legs. “It’s kind of a relief rally,” a CIO said. The Dow was up 12.89 to 8,763.13. The S&P shed 2.37 to 940.09. And the Nasdaq dipped 0.60 to end at 1,849.42. More»

(NEWSER) - Stocks ran out of gas at the open today, as investors digested a grim jobs report. The Dow and S&P were essentially flat, the Wall Street Journal reports, while the Nasdaq inched higher, on strong earnings from Research in Motion. The BlackBerry maker posted a 26% gain in earnings and was rewarded with a more than 21% share jump. The Labor Department’s latest report showed unemployment at a 25-year-high. More»

(NEWSER) - A worse-than-expected jobs report sent stocks tumbling at the open today. The Dow careened down 125 points, while the S&P and Nasdaq sunk 1.8% and 1.9%, respectively. The private sector lost 742,000 jobs in March, according to a new ADP report. Investors were also nervous about reports that President Obama viewed bankruptcy as the best option for GM. More»

Index down 4.8% since Monday

(NEWSER) - Stocks posted losses today as news that US unemployment hit 7.2% moved the markets to the finish of a dismal week, MarketWatch reports. The Dow lost 143.28 to close at 8,599.18, with losses perhaps limited because investors were expecting the bad jobs news. The Nasdaq fell 45.42, settling at 1,571.59, and the S&P 500 dropped 19.38 to close at 890.35. More»