Weak Jobs Number Points to Lower Equities and Commodities (SPY) (USO) (OIL) (JJC)

July 6, 2012 9:09 AM EDT
Stocks in the U.S. are expected to open lower on Friday following a dismal jobs report in the U.S. The jobs report showed a gain of only 80k jobs compared to estimates of 95 to 100k.

SPDR S&P 500 ETF (NYSE: SPY) is trading lower by 0.85 percent in pre-market trading. Oil and other commodities are also trading lower, and this tells a tale of weak demand on the back of weak growth. The jobs data tells an ambiguous story for Fed watchers too, with prospects for QE3 muddled.

WTI futures are trading back below $85 per barrel at $84.55. Industrial metals such as copper are also down. On the ETF front look for a lower open in these ETFs (NYSE: USO), (NYSE: OIL) (NYSE: JJC).

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