The S&P 500 lost 1.1 percent to 1,382.20 at 4 p.m. New York time. Treasury 10-year yields slipped as much as four basis points to a one-month low of 2.02 percent. Gold futures added 0.8 percent to $1,643.90 an ounce. The euro reversed losses, climbing 0.1 percent to $1.3113. Copper futures slumped to the lowest level since Feb. 17.
Traders work on the floor of the New York Stock Exchange. Photographer: Jin Lee/Bloomberg
April 9 (Bloomberg) -- Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Co., talks about the U.S. economy, stock market and investment strategy. El-Erian, speaking with Betty Liu, Dominic Chu and Sara Eisen on Bloomberg Television's "In the Loop," also discusses China's economic outlook. Todd Horwitz, chief strategist at Adam Mesh Trading Group, also speaks. (Source: Bloomberg)
April 9 (Bloomberg) -- Stanley Crouch, chief investment officer of Aegis Capital Corp., talks about the outlook for the equity market and investment strategy. Crouch, speaking with Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "InsideTrack," also discusses JPMorgan Chase & Co. trader Bruno Iksil's bets in credit derivatives. (Source: Bloomberg)
April 9 (Bloomberg) -- Mark Zandi, chief economist at Moody's Analytics Inc., talks about the outlook for the U.S. labor market and economy. He speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)
April 9 (Bloomberg) -- Jeremy Friesen, a commodity strategist at Societe Generale SA in Hong Kong, talks about oil prices and demand. He also discusses gold, copper, and agricultural commodities. He speaks with John Dawson on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Alcoa Inc. employee Clarence Benjamin pushes a crucible of molten aluminum into place for transport at the company's Mt. Holly production plant in Goose Creek, South Carolina on Jan. 19, 2012. The aluminum producer is scheduled to disclose first-quarter results on April 10, 2012, the first Dow Jones Industrial Average company to report. Photographer: Stephen Morton/Bloomberg
A gold bar is weighed at Bullion Trading LLC in New York. Photographer: Victor J. Blue/ Bloomberg
“The economy does continue to grow, but slowly,” John Carey, who helps oversee about $220 billion at Pioneer Investments in Boston, said in a telephone interview. “That’s been the source of frustration for a lot of investors, that we haven’t had the big forward movement in the economy like we have in the past.”
All western European stock markets were shut for holidays, along with Australia, New Zealand, Hong Kong, Thailand and South Africa. U.S. markets were closed on April 6, when the monthly report from the Labor Department was released. The MSCI Asia Pacific Index (MXAP) of shares in the region fell 0.6 percent today.
Overcoming Jobs
The U.S. jobs report presents a challenge that stocks have overcome nine times during the bull market that drove the S&P 500 up more than 100 percent in three years. While the S&P 500 averaged losses of 0.8 percent in the day after the data missed projections by at least 85,000 since March 2009, the benchmark gauge cut its decline in half a week later and was up 0.9 percent after two weeks, the data show.read full article here
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