US stocks certainly reacted on Thursday to the fact that data shows more people than expected lost their jobs.

The total was 467,000 non-farm employees that found themselves jobless. This is 100,000 more than projected. As with anything we need to put this into perspective and realize this only rose a small amount reaching 9.5%, which is the highest since 1983.

There were 614,000 jobless Americans that suffered this indignity for the first time. This is certainly an indicator of the current state of the economy and unemployment.

The market turns on events and has been trading lower as investors attempt to anticipate future figures. Citigroup fell a full percent to $2.94 while Wells Fargo was down 1.2 percent to $23.85.

An hour into trading the S&P 500 index was down 2 per cent with the Dow falling 1.8 per cent and Nasdaq Composite down2.2 per cent.

America will shortly being celebrating its independence and some investors may have left the market till next week.

Energy fell as crude continued its decline falling an additional $2.52.

Commodities also felt the sting amid a fairly wide sell-off with God trading down and some mining stocks being extremely volatile.

Airlines were flying both high and low with Morgan Stanley reviewing it’s ratings on the biggies with a special nod to Continental stating it was a likely survivor from the fallout.

Lear confirms Chapter 11 and Johnson Controls suffers from fears of unemployment effecting new car purchases and that is certainly a possibility.

Johnson & Johnson was down after committing $1 billion to new Elan equity in exchange for an 18.4 share in the company.

Europe may be half a world away but Wall Street has a long reach and says those stocks down early with Eurofirst losing 2.2 percent. And from the other side of the planet, Asian equities closed higher with Shanghail Composite up 1.7 percent, setting a new 13 month record.

Bond yields were down with the 2 year Tnote falling 5 basis points (below the 1% mark to 0.99%), not being completely gloomy the 10 year T note was 3bps up at 3.508%

And just in time for our independence day, the dollar was strong against major currencies, gaining 1% against the euro to $1.4009

CHICAGO–(BUSINESS WIRE)–Zacks Equity Research picks Onyx Pharmaceuticals, Inc.

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Zacks Bull & Bear of the Day Highlights: Onyx Pharmaceuticals, Newfield Exploration, D.R. Horton, KB Home and MGIC

CHICAGO–(BUSINESS WIRE)–Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.

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Zacks Analyst Blog Highlights: AMB Property Corp., Charlotte Russe Holdings, Inc., Arch Coal, Burlington Northern Santa Fe Corporation and Coca-Cola Hellenic Bottling Company S.A.