We are just over two hours into the session and find the Dow Jones Industrial Average (DJIA) off its worst levels, but still lower. Pre-open futures showed a relatively positive reaction to the jobs report but the mood soured as soon as the opening bell rang. The Dow pushed to a quick loss of 150 points before finding its footing. We have seen a small bounce off the lows but the average is still down 110 points. For those who missed it, more on the employment report can be found in the post below
Drilling beneath the surface shows little in the way of strength. The only advancers on my list are the iShares Treasury Bond (TLT) and streetTRACKS Gold (GLD). The Oil Service HOLDRS (OIH), US Oil Fund (USO), SPDR Homebuilders (XHB), Amex Networking Index (NWX), and Natural Gas Index (XNG) are the weakest areas.
Chart Courtesy of Thomson Financial
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