Disappointing Jobs Report Weighs Down Markets

A disappointing jobs report weighed down the markets to a lower close with the Dow slipping 5 points to 10,674. Nasdaq dropped 10 points to 2293.

On the upside

Affymax (Nasdaq: AFFY) reversed year ago losses to post better than expected second quarter profit as revenue more than doubled.

Second quarter earnings for Fuel Systems Solutions (Nasdaq: FSYS) fell but the results surpassed estimates and revenue rose.

Liz Claiborne (NYSE: LIZ) widened second quarter losses but the results were better than expected and the women's apparel company expects to report a profit for the year.

On the downside

Although second quarter earnings rose for Lincoln Educational Services (Nasdaq: LINC), the for-profit educator lowered its full year outlook.

Tetra Technologies (Nasdaq: TTI) reported higher second quarter earnings but warned that year to date capital expenditures are below estimates due to the the drilling moratorium in the Gulf of Mexico.

Manulife Financial (NYSE: MFC) disappointed by swinging to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 655.