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Trading at Noon: Stocks fall on weak unemployment

Friday, July 06, 2012 - 04:09

July 6 - U.S. stocks are down after employers hired at a weaker-than-anticipated pace in June.

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Well we are smiling but there's another weak employment report bogging down traders today only 80000 new jobs added in June. Joining me now is Reuters markets correspondent I'm still -- thanks so much for being here. I stocks are in the red info tech. Leading the sell off. It's looking great not wearing black maybe that's a good sign what's gone -- wearing a bullet today because all we're seeing Israelis baby steps. Market. I can -- only 80000 jobs and the month 101000 below expectations another month courtesy mine -- like it's kind of progress. What's worse had this job report and even weaker we might be seeing some upside today just because that would indicate possibly. But the Federal Reserve would step in with another round of quantitative easing is actually thirty that was the hope unfortunately it's not weak enough for that. It's also not strong enough to really indicate that there's any kind of momentum -- job hiring that. -- some things stable perhaps like maybe some stability. The company that its choice for search for two. Choices after lots of turn this past few. Years. After that excellent. They have an internal and external candidate external -- is currently see you know who internal what is actually their currency right now as -- weapons. In various capacities. Right double that for some stability which they have literally had ever since -- -- takeover offer from Microsoft back in 2008. Eight the company had 44 billion. Now stop work a lot less -- 6% over the past three years that they've done some work to sort out -- that they are looking for something higher. It's going to be hard disk and you know like Yahoo!'s. What the darlings. In Italy FaceBook user -- And right the ship. Some stocks moving at this hour seagate. -- down nearly 3% weak forecast. Q4 revenue and also Informatica -- Pakistan between the. He hit two years looking -- that these are people optimists at the same story people keep weak -- for either a quarter. Both -- here uncertainty there leading to weaker here. And also issues. All issue that would and its suppliers which is awesome and packing things that really is you. Here two more examples of how overseas users coming back rooms in the form or outlook weaker sales etc. There are right how that women's retailer Christopher & Banks down close to 4%. Right tell us about what's gone on here we'll sort of opposite. Eight others note and people and hoping for the stock has risen in recent weeks on expectations so what's happening and buy it. They had an offer from area partners which owns about 4% of but the company rejected the offer a standard line about it not fully valley when there they'll turn around planes this thing that's when things. But of course without. Taking this plan shares -- OK let's shift gears look at some social media stocks. One down almost 5% today and it's a similar story for. Right well here again. Examples of how investors remained skeptical holes -- days. Most notably FaceBook which is still down very sharply from its IPO price. -- honest about 60% this year saying that over the past eighteen weeks it's been positive for three. So it's time that you and I go play some form bill Wright right helps and I happen okay Ryan thanks for being here. And you can follow us on Twitter -- Reuters Insider and check. It. Slash TD. It's very hard it is right.

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Trading at Noon: Stocks fall on weak unemployment

Friday, July 06, 2012 - 04:09