[ but our resident economist wannabe AKTardBoy says this recovery is
the "epitome of perfection" ]
Stocks: Bracing for brutal open
By CNNMoney staff June 3, 2011: 9:00 AM ET Click chart for more market data
NEW YORK (CNNMoney) -- U.S. stocks were headed for a sharp sell-off at Friday's open, following a weak report from the government showing a disappointing slowdown in job growth.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were more than 1% lower ahead of the opening bell. Futures measure current index values against perceived future performance.
Over the last few months, signs of a stalling recovery have been building, with stocks delivering their worst monthly performance in May since August 2010.
The government's May jobs report only exacerbated those worries.
"The labor market is sick -- it's horrible," said John Lonski, chief economist for Moody's.
Employers added a mere 54,000 jobs last month, down from a downwardly revised 232,000 in the previous month. The unemployment rate nudged up to 9.1%.
the "epitome of perfection" ]
Stocks: Bracing for brutal open
- Comment
By CNNMoney staff June 3, 2011: 9:00 AM ET Click chart for more market data
NEW YORK (CNNMoney) -- U.S. stocks were headed for a sharp sell-off at Friday's open, following a weak report from the government showing a disappointing slowdown in job growth.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were more than 1% lower ahead of the opening bell. Futures measure current index values against perceived future performance.
Over the last few months, signs of a stalling recovery have been building, with stocks delivering their worst monthly performance in May since August 2010.
The government's May jobs report only exacerbated those worries.
"The labor market is sick -- it's horrible," said John Lonski, chief economist for Moody's.
Employers added a mere 54,000 jobs last month, down from a downwardly revised 232,000 in the previous month. The unemployment rate nudged up to 9.1%.