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Huge jobs miss spooks Wall Street

A shocking jobs report miss has traders spooked the economy may be sputtering. And what does it mean for the Fed? We look at the fallout. Catch The Final Round at 4 p.m. ET with Yahoo Finance's Jen Rogers, markets correspondent Nicole Sinclair, columnist Rick Newman, and Sarah Hunt, portfolio manager at Alpine Funds.

Winners and losers

Stocks ending the week on a down note include teen retailer Zumiez on weaker than expected profit guidance and Citi dropping as CEO Michael Corbat revealed second quarter net income would fall 25% year over year. Meanwhile, the chemical company Chemours got shellacked after noted short-seller Citron Research said it had a "toxic" balance sheet and that the stock was "going to zero." Chemours strongly refutes the statements.

Stocks bucking the tape higher today include The Gap after the retailer said sales were improving heading into the Memorial Day weekend, chipmaker Broadcom up on an earnings beat and small dividend hike, and Avianca, the South American airliner soaring on a Journal report that United and Delta are considering bids for the company.

What to watch

  • On Monday - Janet Yellen speaks at the World Affairs Council in Philadelphia. Will she reveal any clues about the June meeting? We'll see.
  • On Wednesday we'll get another look at the employment situation with the Labor Department's Job Openings and Labor Turnover survey, or JOLTS, for April.
  • Also on Wednesday is the EIA's weekly crude oil inventories report. Last week we actually saw a drawdown of 1.4 million barrels.