U.S. stocks traded narrowly mixed before the close today as investors eyed developments in Greece and weighed a bond yield rally on a strong jobs report, which supports the case for a rate hike this year.
The S&P 500 (INDEXSP:.INX) slid 0.2 percent to 2,092 at 3:46 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) lost 0.4 percent to 17,839, while the tech-heavy Nasdaq 100 (INDEXNASDAQ:NDX) was up 0.1 percent at 5,066.
In an early afternoon speech, New York Fed President William Dudley said the second quarter rebound is relatively muted but that a Federal Reserve interest rate hike seems appropriate later this year. He added that market turbulence is likely once a rate hike begins.
Nonfarm payrolls jumped 280,000 last month, the largest gain since December, while payrolls for March and April were revised to show 32,000 more jobs were created than previously reported, the Labor Department said.
A gain in average hourly earnings and the surge in jobs growth raised the chances the Federal Reserve would tighten monetary policy this year.
After the local market close, Greece Prime Minister Alexis Tsipras said Greece offered a realistic proposal that is in line with creditors' needs. He added that the country needs a deal that puts an end to "Grexit" talk and that doesn't combine austerity with debt relief.
MOVERS:
ADRs of Vodafone (NASDAQ:VOD) fell 1.8 percent to $37.05 as the world's second-biggest mobile telecoms company said that it was in talks with Europe's largest cable operator, U.S.-based Liberty Global (NASDAQ:LBTYA), about an exchange of "selected assets", not a full-blown merger.
Gap (NYSE:GPS) fell 1 percent to $38.21, reversing an earlier gain. The clothing retailer reported sales at established stores fell 1 percent during May but exceeded Wall Street's expectations.
Zumiez (NASDAQ:ZUMZ) sank 18.4 percent to $24.27. The multi-channel specialty retailer reported adjusted quarterly profit of 12 cents per share, matching estimates, with revenue also in line, but the action sports retailer also forecast current-quarter profits that missed analyst estimates. It also anticipates same-store sales falling 3 to 5 percent.
LightInTheBox (NYSE:LITB) fell 3.1 percent to $4.69 after the Chinese online retailer forecast second-quarter revenue below analysts' expectations.
Fiat Chrysler Automobiles NV (NYSE:FCAU) dropped 2.6 percent to $15.66 after one of its units said it may have missed deadlines to notify customers in five recall campaigns.
Under Armour (NYSE:UA) advanced 4.7 percent to $81.73. D.A. Davidson & Co. recommended buying the shares of the sporting-goods company, noting its earnings growth, recent pullback, and the potential of upward revision of earnings guidance.
Noodles & Co. (NASDAQ:NDLS) gained 6.4 percent to $15.87 as the restaurant chain announced a $35 million share repurchase program.
Diamond Foods (NASDAQ:DMND) climbed 7.1 percent to $30.96. Diamond earned an adjusted 23 cents for its latest quarter, 8 cents above estimates, despite revenue falling short of forecasts.
ADRs of J.A Solar (NASDAQ:JASO) surged 12.6 percent to $9.10 after the maker of solar cells received a proposal to go private.
AES (NYSE:AES) rose 1.2 percent to $13.18 after JPMorgan Chase & Co. raised its rating on the utility to overweight, similar to buy.
Verifone Systems (NYSE:PAY) skidded 2.3 percent to $37.47 as the maker of electronic payment systems gave a current quarter forecast for revenue and profit that falls below Street forecasts. But Verifone beat estimates by 2 cents with adjusted quarterly profit of 44 cents per share, with revenue slightly above forecasts.
COMMODITIES:
Gold for August delivery on Comex fell 0.6 percent to settle at $1,168 an ounce.
July crude added 2 percent to settle at $59.13 a barrel on the New York Mercantile Exchange.
OTHER MARKETS:
European stocks closed lower after the strong U.S. jobs report. Investors also weighed continued concerns about Greece, which delayed a debt payment to the IMF originally due today. The ATHEX Composite fell nearly 5 percent.