Friday’s job report and Europe’s debt trouble helped push U.S. stock-index futures down sharply on Monday’s Labor Day holiday. The unemployment rate held steady in August at 9.1% with nonfarm payrolls unchanged, lower than the 53,000 gain expected, and the weakest performance in nonfarm payroll since a decline in September 2010. Tech stocks sold off sharply on a market-wide slump Friday, with Netflix leading the way down after the co. lost a content partner for its growing movie streaming service. After a three-day weekend, investors will return to a market anxiously anticipating crises: a double-dip recession and a European debt crisis.
Tuesday, September 6, 2011
Sank after jobs report
Friday’s job report and Europe’s debt trouble helped push U.S. stock-index futures down sharply on Monday’s Labor Day holiday. The unemployment rate held steady in August at 9.1% with nonfarm payrolls unchanged, lower than the 53,000 gain expected, and the weakest performance in nonfarm payroll since a decline in September 2010. Tech stocks sold off sharply on a market-wide slump Friday, with Netflix leading the way down after the co. lost a content partner for its growing movie streaming service. After a three-day weekend, investors will return to a market anxiously anticipating crises: a double-dip recession and a European debt crisis.
