Opening Bell: Stocks Slip on Weak April Jobs Report

U.S. stocks fell on Friday, following a weaker-than-expected April jobs report. The economy added 160,000 jobs during the month - missing expectations of 200,000. The labor force participation rate fell to 62.8 percent from 63 percent in March. Average hourly earnings rose 2.5 percent year-over-year, ahead of the 2.4 percent growth economists were looking for. 'It's weaker than any of us expected,' said Jerry Webman, chief economist at OppenheimerFunds, adding that he wasn't surprised given the weaker ADP Employment Report released earlier in the week. Meanwhile, oil prices were volatile, but fell slightly to around $43 a barrel after a rally on Thursday. Two factors affecting oil production include Canadian wildfires, which have expanded over the past day, and violence in Libya. Health insurance giant Cigna (CI) - Get Report reported quarterly earnings of $2.32 a share, beating estimates of $2.15. Revenue of $9.9 billion rose 4.4 percent year-over-year, but fell short of the $10 billion analysts were looking for. The company raised its full year earnings outlook. TheStreet's Scott Gamm reports from Wall Street.