Once again, actions in Europe dominated the trading back here at home on Thursday. The broader stock market averages fell 0.8% to 0.95%, as Greece deferred a payment due to the International Monetary Fund (IMF).
Materials, energy and industrial names led the way lower on the session. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note fell 5.9 basis points to 2.305%. The price of crude oil also fell more than 2% for the second straight day.
The biggest movers on the session were acquisition-related. Opko Health (OPK) offered to buy Bio-Reference Laboratories (BRLI) for $1.47 billion in cash and stock. Bio-Reference moved 20% higher, while Opko fell 15%.
In after-hours action, Zoe's Kitchen (ZOES) is trading more than 3% higher after posting a surprise quarterly profit.
Looking ahead to Friday morning, the focus will be on the May jobs data. Economists are expecting the addition of 225,000 non-farm payrolls and for the unemployment rate to remain at 5.4%. Traders will be watching this report closely as the data-dependent FOMC was reportedly urged by the IMF today to delay interest rate increases until 2016.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
