Stocks and Bonds Losing Ground in Midday Trading on Jobs Report

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Stocks and Bonds Losing Ground in Midday Trading on Jobs Report

Stocks and Bonds Losing Ground in Midday Trading on Jobs Report
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Stocks and Bonds Losing Ground in Midday Trading on Jobs Report

by TheStreet 0:46 mins

Major U.S. markets are trading slightly in the red midday Friday after a surprisingly weak jobs report. Both stocks and bond yields are lower as investors try to figure out the Fed's timing on rate increases. Retailers are having a rough session led by the Gap (GPS), reporting it missed estimates for August same-store sales. Urban Outfitters (URBN) and American Apparel (APP) are also lower along with Michael Kors (KORS) after news its biggest shareholder sold its stake in the company. Banking stocks are also losing ground in midday trading. Goldman Sachs (GS) and JPMorgan Chase (JPM) are pushing the blue chips' decline.

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