U.S. stocks fell sharply Thursday. NEW YORK (CNNMoney)
Market futures were pointing to a rough open on Wall Street until the government said the jobs recovery continued in July, albeit at a slower pace.
The Dow did fall a bit again Friday and is now down for the year after Thursday's 317-point drop Thursday. The S&P 500 and Nasdaq were flat. Each plunged about 2% Thursday.
Here's what you need to know about the markets today.
Jobs, jobs, jobs: Employers added 209,000 jobs in July. That was well shy of the 288,000 jobs that were created in June and below the gain of 230,000 jobs predicted by economists polled by CNNMoney .
The weaker-than-expected jobs report could ease fears on Wall Street that the Federal Reserve will hike interest rates early next year.
The government said the unemployment rate ticked up to 6.2% from 6.1%.
Related: Cold War-style tension hits Western companies in Russia
World markets sliding: European markets fell, following the lead of the U.S on Thursday.
Germany's Dax tumbled on concerns about the impact of escalating tensions with Russia on the region's fragile economy. The EU turned up the heat on Moscow Thursday by including Russia's biggest bank, Sberbank, on its list of sanctions targets.
Shares of Sberbank (SBRCY)and VTB, the country's second biggest bank, sank by about 2% Friday.
Societe Generale (SCGLF) fell by 2.5% after the French bank's second quarter earnings showed business in Russia is suffering. It joins a chorus of Western companies facing problems in Russia.
Big movers -- GoPro, LinkedIn, Iliad: GoPro's (GPRO) debut earnings report failed to impress Wall Street's extreme expectations, driving the gadget maker's stock down 11%.
Iliad (ILIAY) dropped 7% in Europe after the French telecom firm made a surprise $15 billion takeover bid for T-Mobile USA (TMUS).
On the other hand, shares of LinkedIn (LNKD, Tech30) popped 8% after the social media company posted better-than-expected quarterly results.
Tesla (TSLA) also rose in early trading after Elon Musk's electric car maker reported strong sales and a profit that topped forecasts.
Bally Technologies (BYI) hit the jackpot as Scientific Games (SGMS) agreed to acquire the slot-machine maker for $3.3 billion. Bally spiked 31% on the buyout, which also sent Scientific Games surging 14%.
Related: Fear & Greed Index shows extreme fear
Procter & Gamble (PG) rallied about 2.5% after posting a solid earnings beat despite shrinking sales. Investors largely overlooked the consumer products giant's tepid outlook for the year.
Burger King (BKW) marched 2% higher as the fast food chain's earnings beat expectations thanks to slightly higher sales and shrinking expenses.
Other big-name companies also reported earnings, including Clorox (CLX) and Chevron (CVX). Warren Buffett's Berkshire Hathaway (BRKA) is scheduled to post results after the close.
First Published: August 1, 2014: 9:50 AM ET
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