Stocks Pullback Slightly in Reaction to October Jobs Report

Stocks took back some gains at the opening bell after the U.S. Labor Department's release of the latest employment data. The October jobs report showed employers added 214,000 jobs last month. But the unemployment rate unexpectedly fell to 5.8%. The Gap (GPS) was higher at the open despite reporting a drop in same-store sales. Investors are looking past those figures and focusing more on the retailer predicting its profit outlook will be better than current forecasts. Bank of America (BAC) tripled its previously reported third quarter loss. The adjusted results are due to legal expenses related to foreign exchange probes. Home Depot (HD) said 53 million more email addresses were stolen from its previously reported security breach. The retailer revealed nearly 56 million payment cards had been exposed in September. Home Depot said the additional emails do not contain any payment card information.