The Dow and S&P slumped to a loss Friday despite a better than expected jobs report to kick of 2012. The US economy exceeded expectations by adding 200,000 jobs while the unemployment rate, with all of its flaws, fell to 8.5%. Futures jumped sharply immediately following the announcement at 8:30 am ET, but fell back down before the open. Stocks fell quickly after the bell but were able to recover most of those losses into the close, with the S&P finishing down only 0.25%.
Apple (AAPL) continued to lead the charge in tech, ignoring the market's indecision and surging 1%. It was joined today by two old friends who have fallen, to various degrees, from their "market leader" perch - Amazon.com (AMZN) and Netflix (NFLX). AMZN pulled in slightly from highs but still finished up 2.8% to recover some of its losses from Q4 2011, while NFLX was even more impressive, jumping 8.8% on the day and nearly 25% for the week.
*DISCLOSURES: Marc Sperling is long GS, AMZN, JVA, MA, MCP, BZH, GRPN, FIO, WHR. Short SPY, GLD.
