"Treasury yields are coming down quickly, as there's more certainty now we're in an economic slowdown," Pride said. "The question now is about the magnitude of a slowdown."
Financial subsector indices were among the weakest of the day. The Amex Securities Broker/Dealer Index shed 3.9%, as Bear Stearns (BSC Quote), Merrill Lynch (MER Quote), Morgan Stanley (MS Quote) and Goldman Sachs (GS Quote) retreated. Among other decliners, the Philadelphia Semiconductor Sector Index was down 4.7%, the S&P Retail Index sank 3.9%, and the Amex Airline Index was lower by 1.7%. The weaker-than-anticipated report comes just day after the ADP report on employment said private payrolls exceeded forecasts with a rise of 40,000 in December. Stocks initially cheered the report but gave up their early gains to finish close to the unchanged mark Thursday. Crude prices remained a focus for traders as oil hovered just below the $100-a-barrel mark. After hitting a record $100.09 a barrel during the previous session, crude finished down $1.27 to close at $97.91. Gold futures also retreated but held near all-time highs at $865.70 an ounce. Silver was also lower, off 3 cents to $15.46 an ounce. The dollar tumbled against the euro and the yen after the jobs data. Also on the economic docket, the Institute for Supply Management said its nonmanufacturing index dipped to a reading of 53.9 in December from 54.1 in November. The number came in above economists' projection of 53.5.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.00 | 1,107.93 | 2,201.05 | 36.03 |
Oil *
72.17
|
|
DOWN
49.05
|
DOWN
6.18
|
DOWN
11.05
|
UP
0.57
|
10 Yr
3.60%
SPDR Gold
110.21
|
|
-0.47%
|
-0.55%
|
-0.50%
|
+1.61%
|
Data delayed 20 minutes |














