Friday’s downturn should continue into next week, but technically this should be just a correction that will set up a buying opportunity.
Stocks dive in the morning as unemployment rises to 9.2% and job growth sputters. But late-day buying trims losses. Banks lead the market lower. Oil and copper drop, while gold rises.
The Nasdaq tops its April closing high but falters. Private employment grows, and jobless claims fall. Retailers say warm weather and discounts boosted June sales. Crude oil shoots higher.
An early decline gives way to decent gains as traders shrug off worries about Europe and higher Chinese interest rates. The ISM non-manufacturing index slips. Oil moves lower; transports flirt with record highs. Netflix gets a downgrade.
The Chicago PMI report cheers investors, who are hoping the economy's soft patch is firming up. Greece's parliament approves austerity legislation. Could Hewlett-Packard be broken up? Oil and gold fall.
Greece's vote to raise taxes and cut spending boosts the euro; oil and metals move higher. Big risks remain, though. Bank of America rises after settling a huge mortgage dispute. Stocks may have their best week since March.
But the rally fades in the last hour. Apple and Amazon.com shares pop on analyst upgrades. Nike earnings cheer the Street. Bank of America is declared undervalued. Gold drops below $1,500; crude oil falls, too.
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The athletic-wear underdog could be offering a huge contract to the basketball star.
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
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