NEW YORK — Stocks slipped Friday morning, a day after the market had its worst day in three months. Indexes gave up an early gain driven by a report of strong job growth in December. The week is shaping up to be the worst for stocks since August.
KEEPING SCORE: The Dow Jones industrial average lost 39 points, or 0.2 percent, to 16,475 as of 11:30 a.m. Eastern time. The Dow lost 392 points the day before. The Standard & Poor's 500 index gave up 5 points, or 0.3 percent, to 1,938. The Nasdaq composite shed 12 points, or 0.3 percent, to 4,677.
JOBS REPORT: The Labor Department said U.S. employers added 292,000 jobs in December. The unemployment rate was unchanged at 5 percent. Analysts had anticipated a smaller increase of 200,000 jobs. On average employers added 284,000 jobs per month in the fourth quarter, the best rate in a year.
OIL STILL FALLING: Oil prices continued to slide. U.S. crude dipped 48 cents to $32.79 a barrel in New York and Brent crude, a benchmark for international oils, lost 85 cents, or 2.5 percent, to $32.90 a barrel in London. U.S. crude is the lowest it's been since February 2004.
Energy stocks continued to decline, as drilling services company Transocean lost 34 cents, or 3.1 percent, to $10.66 and Marathon Oil lost 62 cents, or 6.7 percent, to $9.95. Southwestern Energy gave up 31 cents, or 4.6 percent, to $6.54.
DEPARTMENT STORES STRUGGLE: Department stores Macy's, Kohl's and Nordstrom were among the biggest losers on the S&P 500. Their holiday sales have been hurt by the unusually warm winter weather. Macy's lost 99 cents, or 2.7 percent, to $35.90 while Nordstrom gave up $1.95, or 4 percent, to $46.55 and Kohl's fell $2.33, or 4.6 percent, to $48.53.
GAP WOES: Retailer Gap said its sales slumped in December. The totals were worse than analysts expected. The sluggishness included its Old Navy brand, which had been a bright spot for Gap. The stock dropped $3.01, or 11.3 percent, to $23.73. Gap had risen 5.7 percent Thursday.
LOUSY WEEK: The market is on pace for its worst week since August. The Standard & Poor's 500 index has fallen 5.2 percent this week and the Nasdaq is in a six-day skid.
EUROPE: Stocks in Europe also dipped. The FTSE 100 index of leading British shares declined 0.3 percent while Germany's DAX lost 0.8 percent. The CAC-40 in France slid 1.2 percent.
ASIA'S DAY: China's stock market also rose to end a tumultuous week. The benchmark index in Shanghai gained 2 percent after a 7-percent plunge on Thursday that led to an early halt in trading. Hong Kong's Hang Seng rose 0.6 percent and South Korea's Kospi added 0.7 percent. Japan's Nikkei 225 lost 0.4 percent.
Worries about China have been driven by a decline in the value of the yuan and disappointing economic data. In the last few days that has drowned out signs that the United States and Europe are doing fairly well.
CONTAINER STORE STUMBLE: The Container Store reported a surprise third-quarter loss and disappointing sales, and its stock plunged $2.86, or 39.8 percent, to $4.32. The company went public in November 2013 with an IPO that priced at $18 per share and it finished its first trading day at $36.20.
CURRENCIES, BONDS: The euro fell to $1.0904 from $1.0927 and the dollar edged up to 117.61 yen from 117.50 yen late Thursday. Bond prices rose. The yield on the 10-year Treasury note declined to 2.13 percent from 2.15 percent.