On Friday, equities opened June with their worst day of 2012. The Dow Jones Industrial Average (NYSEARCA:DIA) erased all of its gains for the year, while the S&P 500 (NYSEARCA:SPY) broke its 200-day moving average for the first time since December. Both indices retreated as the latest jobs report renewed slowdown fears. In May, the American economy added only 69,000 new jobs and the unemployment rate ticked up to 8.2 percent. It was a huge miss as economists were expecting around 150,000 new jobs for the month.
Here is a look at the biggest movers on the day:
Facebook (NASDAQ:FB) shares closed 6.35 percent lower today, despite Morgan Stanley’s CEO James Gorman appearing on CNBC recently to defend the social-media giant. Gorman said, “The story isn’t over. It’s only been a little bit of time. There was more hype going into this than any security ever traded. We all need to settle down and get back to the fundamentals of what is this great company doing.” Zynga Inc. (NASDAQ:ZNGA), which relies heavily on Facebook users for revenue, also declined 4 percent on the day.
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Groupon Inc. (NASDAQ:GRPN) shares plunged almost 9 percent Friday. The company’s post-IPO insider lock-up agreement expired today. The expiration of this agreement frees up 93 percent of Groupon’s outstanding shares, essentially doubling the amount of shares available for trading.
Despite the broad pullback in the market, the SPDR Gold Trust (NYSEARCA:GLD) closed almost 4 percent higher, while the iShares Silver Trust (NYSEARCA:SLV) gained 2.45 percent. The top performer in the S&P 500 was Newmont Mining (NYSE:NEM), one of the world’s largest gold producers.
Hewlett-Packard Co. (NYSE:HPQ) was the worst performer in the Dow, falling 6.31 percent. On the positive, the company won a $90 million five-year contract for processing health claims with Oklahoma’s State and Education Employees Group Insurance Board. While all 30 Dow components closed lower, Wal-Mart Stores Inc. (NYSE:WMT) performed the best by only falling .41 percent.
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Disclosure: Long EXK, AG, HL, PHYS