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Business News for Saturday May 26, 2012
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Stocks: Investors await jobs report
Friday May 6, 2011
NEW YORK�(CNNMoney) -- U.S. investors await the monthly jobs report Friday, with stock futures indicating a higher open after the report's release.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures rose between 0.2% and 0.3%, but the 8:30 a.m. ET monthly jobs report is likely to affect those gains. Futures measure current index values against perceived future performance.

Friday marks the one-year anniversary of Wall Street's 'flash crash' that sent the Dow industrials plunging nearly 1,000 points in less than 20 minutes.

On Thursday, a sell-off on Wall Street accelerated late in the day, as oil prices plunged and other commodities sharply declined.

Oil and silver continue to slide Friday morning.

Just a week ago, silver prices were within spitting distance of breaching $50 an ounce. Friday, silver futures for July delivery dropped $1.34 to $34.90 an ounce.

Oil for June delivery slipped $2.20 to $97.60 a barrel, after plunging 8.6% to close below $100 a barrel Thursday.

After 44 straight increases, the national average price for a gallon of regular unleaded gasoline decreased Friday, according to AAA.

Economy: All eyes will be on the Labor Department's jobs report, due at 8:30 a.m. ET.

The report is expected to show employers added 185,000 jobs in April, according to economists surveyed by CNNMoney. The unemployment rate is forecast to remain unchanged at 8.8%.

In March, 216,000 jobs were added to payrolls, so the expectation would mean a slight slowdown in the pace of job growth.

Companies: Newspaper publisher Washington Post Co. (WPO, Fortune 500) will release its quarterly results, along with utility and natural gas company Constellation Energy (CEG, Fortune 500) Friday.

After the closing bell Thursday, insurer giant AIG (AIG, Fortune 500) reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago.

World markets: European stocks were mixed in morning trading. Britain's FTSE 100 slid 0.2%, while the DAX in Germany added 0.6% and France's CAC 40 rose 0.4%.

Asian markets ended the session lower across the board. The Shanghai Composite shaved 0.3%, the Hang Seng in Hong Kong lost 0.4% and Japan's Nikkei tumbled 1.5%.

Currencies and commodities: The dollar edged up against the euro and the British pound, and was nearly even against the Japanese yen.

Gold futures for June delivery rose $4.30 to $1,485.70 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 3.17%.  Track futures



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Oil sinks below $100 a barrel



AIG slips back in the red
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