Markets Suffer Friday Losses on Weak Jobs Report (GOOG, JPM)

Markets fall to finish the week after anticipation of a strong jobs report fell well short, despite the strong ADP number reported yesterday. Things are getting heavy in overseas again, this time in Italy, where any Greece-like issues would cause exponentially more damage to the world economic landscape. In corporate news, Morgan Stanley (MS) downgraded Google (GOOG) despite it’s limited release of Google+ this week over fears of long term profit margins. JP Morgan (JPM) agreed to a settlement in their securities fraud lawsuit.

Word on the Street

• Stocks fall to end the week after disappointing economic reports.
• Weak jobs report causes oil futures to fall more than 2%.
• Consumer borrowing rises in the US.
• Morgan Stanley’s (MS) downgrade of Google (GOOG) causes shares to slide.
• JP Morgan (JPM) agrees to settlement in securities fraud case.
• Investment guru Warren Buffett suggests people bet heavily against a double dip.
• Sirius XM (SIRI) struggles to comes to grips with competitors like Pandora.

Interesting Tidbits

• Even the most innovative companies may have trouble innovating, including Google.
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