Opening Bell: U.S. Stocks Slip on Dismal May Jobs Report

U.S. stocks sunk on Friday, following a much weaker-than-expected May jobs report. The economy added 38,000 jobs in May, missing estimates of 158,000. The labor force participation rate continued to fall in May for the second month in a row, after rising for roughly six months. The unemployment rate dipped to 4.7 percent, but the April and March jobs numbers were revised downward. Avianca Holdings (AVH) - Get Report shares surged on reports it might be weighing a sale. The Wall Street Journal reports that United Continental Holdings (UAL) - Get Report and Delta Airlines (DAL) - Get Report may be interested in acquiring the airline. Finally, Broadcom (AVGO) - Get Report shares on the rise after beating analysts' estimates on the top and bottom lines. Revenue rose 119 percent year-over-year to $3.56 billion. TheStreet's Scott Gamm reports from Wall Street.