Closing Bell: Things Fall Apart (C, F, INTC, NVDA, BP, WMT)

Filed under: Wal-Mart (WMT), Intel (INTC), Ford Motor (F), Nokia Corp. (NOK), Citigroup Inc. (C), BP p.l.c. ADS (BP), S and P 500, DJIA, NASDAQ

The day started with rumors about problems with Hungary's sovereign debt. Whether the rumors about a potential default had any truth behind them hardly mattered. Stock prices in Europe crumbled and the euro fell to a four year low -- below $1.20. At 8.30am the Labor Department announced May employment numbers. The market consensus was that 540,000 new jobs were created in May. About 400,000 of those were expected to be temporary positions created by the Census Bureau. The total number was only 431,000 and the private sector created barely 20,000 new positions. Futures were down by 2% before the market opened.



The unofficial closing numbers:



Dow 9,931.22 -324.06 (-3.16%)

S&P 500 1,064.88 -37.95 (-3.44%)

Nasdaq 2,219.17 -83.86 (-3.64%)

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Closing Bell: Things Fall Apart (C, F, INTC, NVDA, BP, WMT) originally appeared on BloggingStocks on Fri, 04 Jun 2010 16:30:00 EST. Please see our terms for use of feeds.

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