US close: Investors bale on equities after jobs data
Posted on: 06 Jul 2012 by Polly York

The Dow Jones industrial average ended the week with a triple-digit fall after non-farm payrolls data came in worse than expected.

Although the US economy added 80,000 jobs in June, that was less than the 100,000 the market had been expecting.

Tech stocks battered

Technology shares were especially hard hit, with data warehousing specialist Teradata and network giant Citrix the biggest fallers on the S&P 500 and NASDAQ 100 respectively.

Corporate data integration software provider Informatica plummeted after shocking the market with a surprise fall in second quarter earnings. The company admitted that it had been laggardly in responding to changes in market conditions, especially in Europe. Sector peer Salesforce.com was dragged down in sympathy.

Computer disk drive maker Seagate was another loser in a bad sector, after it disclosed its fiscal fourth quarter sales and margins would fall below expectations.

Haulage firm Navistar lost its way, after it revealed it is in talks with the Environmental Protection Agency on a proposal that would enable the company to continue shipping lorries while it makes the change-over to a new emissions reduction technology that meets the agency requirements.

Other markets

The most widely traded futures contract for gold fell $30.50 to close at $1,578.90, while the front-month contract for West Texas light sweet crude tumbled after the US jobs data, closing at $84.50 a barrel, down $2.77 on the day.

With investors baling on equities government debt was in demand, pushing down yields. The benchmark 10-year Treasury note saw its yield slide six basis points, or 6/100 of a percentage point, on the day to 1.55%; prior to the release of the disappointing jobs data the yield had been around 1.59%.

S&P 500 – Risers
R.R. Donnelley & Sons Co. (RRD) $12.66 +5.85%
Chesapeake Energy Corp. (CHK) $20.04 +2.04%
Family Dollar Stores Inc. (FDO) $69.58 +1.98%
Apollo Group Inc. (APOL) $36.55 +1.64%
Target Corp. (TGT) $58.07 +1.61%
Kohls Corp. (KSS) $47.75 +1.53%

S&P 500 – Fallers
Teradata Corp. (TDC) $65.01 -10.48%
Citrix Systems Inc. (CTXS) $77.48 -7.52%
F5 Networks Inc. (FFIV) $94.37 -6.97%
Autodesk Inc. (ADSK) $32.31 -6.75%
Red Hat Inc. (RHT) $52.94 -6.58%
Alpha Natural Res (ANR) $8.67 -6.47%
KLA-Tencor Corp. (KLAC) $46.06 -5.61%
LSI Logic Corp. (LSI) $6.20 -5.34%
Teradyne Inc. (TER) $13.67 -5.00%

Dow Jones I.A – Risers
McDonald’s Corp. (MCD) $89.66 +0.40%
Wal-Mart Stores Inc. (WMT) $71.36 +0.39%

Dow Jones I.A – Fallers
Hewlett-Packard Co. (HPQ) $19.57 -3.50%
Caterpillar Inc. (CAT) $84.61 -2.51%
Alcoa Inc. (AA) $8.73 -2.19%
Bank of America Corp. (BAC) $7.66 -2.05%

Nasdaq 100 – Risers
Research in Motion Ltd. (RIMM) $8.10 +5.33%
Apollo Group Inc. (APOL) $36.55 +1.64%

Nasdaq 100 – Fallers
Citrix Systems Inc. (CTXS) $77.48 -7.52%
Autodesk Inc. (ADSK) $32.31 -6.75%
Check Point Software Technologies Ltd. (CHKP) $47.27 -5.93%
KLA-Tencor Corp. (KLAC) $46.06 -5.61%
Nll Holdings Inc. (NIHD) $9.41 -5.52%
Foster Wheeler AG (FWLT) $16.71 -4.89%
NetApp Inc. (NTAP) $29.76 -4.37%
Cognizant Technology Solutions Corp. (CTSH) $57.66 -4.25%
Symantec Corp. (SYMC) $14.11 -4.11%
Lam Research Corp. (LRCX) $35.49 -4.02%

JH