Financials and Technology Stocks Lead Market Decline in Early Trading

Despite an early pop in all major U.S. Indexes on the heels of a better-than-expected jobs report, the market has given up its early gains and has sunk, once again, deep into negative territory. The S&P 500 (SPX), which had traded as high as 1218.11, is currently down 12.82 points (1.1%) to 1,187.25. The Dow Jones Industrial Average, which had traded as high as 11,554.88, is currently down 71 points (0.6%) to 11,312. The NASDAQ, which had traded as high as 2,592.04, is the weakest area of the market - currently down 34 points (1.3%) to 2,522.08. The drop is being led by the Financial and Technology sectors, which were showing signs of weakness early in the session. Generally, the market can hold up smaller sectors such as Utilities and Consumer Goods, but when heavyweights like the Financials and Technology sectors are weak, look out below. The Financials are currently the weakest area of the S&P, with the sector currently down 2%, and near the lows of the day. The Technology Sector is not far behind, currently posting a loss of 1.6%. If the market has any hope of returning to positive territory before the closing bell, it is going to need to start with a rally in these two segments, so keep a close eye on both of them going into the afternoon session. The weakest stocks in the S&P 500 Financials Sector in today's session currently are: 1) American International Group AIG: Shares of American International are currently trading down 6% from yesterday's close to $24.80. 2) Citigroup C: Shares of Citigroup are currently trading down 6% from yesterday's close to $32.70. 3) Bank of America BAC: Shares of Bank of America are currently trading down 5.4% from yesterday's close to $8.35. 4) E*Trade Financial ETFC: Shares of E*Trade Financial are currently trading down 4.1% from yesterday's close to $12.61. 5) CB Richard Ellis CBG: Shares of CB Richard Ellis are currently trading down 3.4% from yesterday's close to $18.25. Strength in the Sector: The following Financial stocks are currently showing signs of strength, despite negative overall sector performance: 1) NASDAQ OMX Group NDAQ: Shares of NASDAQ OMX are currently trading up 2.4% from yesterday's close to$22.95. The weakest stocks in the S&P 500 Technology Sector currently are: 1) MEMC Electronics WFR: Shares of MEMC are currently trading down 7.2% from yesterday's close to $5.58. 2) Motorola Mobility Holdings MMI: Shares of Motorola Mobility are currently trading down 4.5% from yesterday's close to $22.04. 3) EMC Corp EMC: Shares of EMC are currently trading down 4% from yesterday's close to $41.58. 4) NetApp NTAP: Shares of NetApp are currently trading down 3.7% from yesterday's close to $41.71. 5) F5 Networks FFIV: Shares of F5 are currently trading down 3.5% from yesterday's close to $83.50. Strength in the Sector: The following technology stocks are showing signs of strength, despite negative overall sector performance: 1) Tellabs TLAB: Shares of Tellabs are currently trading up 0.8% from yesterday's close to $3.91. 2) Pitney Bowes PBI: Shares of Pitney are currently trading up 0.7% from yesterday's close to $19.77. 3) National Semiconductor NSM: Shares of National Semiconductor are currently trading up 0.3% from yesterday's close to $24.55.