May 04, 2012-Stocks Stall on Weak Economic Data

Job fears have taken hold of Wall Street on Friday, with the U.S. index futures pointing to a mixed opening. If the economy adds more jobs than had been anticipated, the markets could see some consolidation around the current levels. Earnings news has been largely mixed. Commodities are extending their slide, reflecting the risk aversion in play in the markets. As of 6:30 am ET, the Dow futures are receding 18 points and the S&P 500 futures are slipping 1.50 points, while the Nasdaq 100 futures are adding 0.75 points. Despite the release of a positive jobless claims report, apprehensions about the non-farm payrolls report kept sentiment subdued for much of Thursday's session. Consequently, the major averages closed uniformly lower. On the economic front, the Labor Department is scheduled to release its monthly non-farm payroll report at 8:30 am ET. Economists expect non-farm payrolls for April to increase by 165,000 and the unemployment rate to remain unchanged at 8.2 percent. In March, the economy added 120,000 jobs, far below the 200,000 job additions forecast by economists.