Equities Mid-Day Stock Market Roundup: Wall Street Down on Jobs Data

Equities Editors Desk |

New York Stock Exchange NYSEU.S. stocks continued to decline in mid-day trading today as an unexpected rise in jobless claims added fuel to the bearish fire. The Dow Jones Industrial Average and the S&P 500 are both down, while Nasdaq is trading up. Claims for unemployment rose 43,000 to 474,000 last week. Economic indicators seem to be pointing at a weakening U.S. recovery effort, even while some of the largest domestic and international corporations have posted better than expected first quarter earnings. Worse yet, commodities and the dollar are both experiencing significant pullbacks as well, raising concerns that deflationary forces could be mounting. Gold and silver prices have continued to slide, perhaps signaling a possible end to the hot streak the precious metals have been on the last few years. Oil prices also continue to fall on lowered demand, hitting as low as $101 a barrel. The dollar also dropped 5 percent against the Japanese yen. Could investors really be selling in May and completely going away?

Major U.S. Stock Indices

DJIA: 12,682.22 (-0.33 percent)
S&P 500: 1,345.56 (-0.13 percent)
Nasdaq: 2,837.42 (+0.32 percent)
Russell 2000: 838.09 (+0.62 percent)

In other news:

  • This time last year the market took a historic tumble. Today is the anniversary of the flash crash. [Reuters]
  • General Motors (NYSE: GM) is on a roll. The automaker has posted five consecutive quarters in the black, and tripled earnings in Q1. [Marketwatch]
  • Unemployment may be up but consumers are still spending, at least in April. Retail companies like Gap (NYSE: GPS), Limited Brands (NYSE: LTD), and Macy's (NYSE: M) all saw strong sales last month. [NY Times]
  • Is Twitter really changing the way Wall Street traders follow the stock market? [USA Today]
  • Margin increases seem to be the reason why gold and silver continue to see a sell-off. ETF investors in iShares Silver Trust (NYSE: SLV) and SPDR Gold Shares (NYSE: GLD) are feeling the pain, but physically backed ETFs like ETFS Physical Swiss Gold Shares (NYSE: SGOL) and ETFS Physical Silver Shares (NYSE: SIVR) have held up a little better. [The Street]

Check back as more news develops.

 

Jobless claims rose by 43,000 to 474,000 in the past week.

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Companies

Symbol Name Price Change % Volume
AMZN Amazon.com Inc. 827.00 10.89 1.33 3,274,541
ANGI Angie\'s List Inc. 10.37 0.11 1.07 96,845
AXP American Express Company 64.21 -0.07 -0.11 2,109,322
BA Boeing Company (The) 132.02 0.70 0.53 976,603
BBY Best Buy Co. Inc. 37.71 -0.54 -1.41 3,052,382
COG Cabot Oil & Gas Corporation 25.52 1.18 4.85 4,338,063
FRGI Fiesta Restaurant Group Inc. 25.35 -0.62 -2.39 648,395
GTH:CA U.S. Geothermal Inc. n/a n/a n/a 0
HES Hess Corporation 49.34 2.53 5.40 3,372,508
HPQ HP Inc. 15.46 0.12 0.78 6,339,622
IBM International Business Machines Corp 158.28 1.51 0.96 1,746,513
JNJ Johnson & Johnson 119.44 0.22 0.18 2,513,644
KO Coca-Cola Company (The) 42.15 -0.45 -1.04 9,809,559
MCD McDonald\'s Corporation 115.02 -1.86 -1.59 3,918,838
MPC Marathon Petroleum Corporation 42.61 0.76 1.82 3,200,667
NFLX Netflix Inc. 97.17 0.10 0.10 5,301,384
SCTY SolarCity Corporation 20.30 0.31 1.53 1,881,469
SSTK Shutterstock Inc. 63.57 0.24 0.38 89,616
UTX United Technologies Corporation 102.44 0.09 0.08 3,070,035
VLO Valero Energy Corporation 55.32 0.30 0.55 3,940,560
WMT Wal-Mart Stores Inc. 71.84 -0.49 -0.68 3,865,738
Z Zillow Group Inc. 35.92 0.22 0.62 503,060

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