MW: Energy stocks resume their slide after jobs report
By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) -- Energy stocks resumed their slide on Friday, as a mixed U.S. jobs report provided no lift and the broad market fell on sustained jitters surrounding sovereign debt in Greece, Portugal and Spain.
Energy stocks initially rose, but then fell as selling took hold in the broad market and crude prices fell.
While the U.S. unemployment rate unexpectedly dropped to 9.7%, the economy still shed 20,000 jobs in January.
The NYSE Arca Oil Index (XOI 992.04, -8.63, -0.86%) fell 1.3% to 988.
The NYSE Arca Natural Gas Index (XNG 513.13, -2.02, -0.39%) subtracted 1.2% to 509.
The Philadelphia Oil Service Index (OSX 189.20, -1.91, -0.10%) dropped 1.7% to 188.
Among stocks in the spotlight, Sunoco Inc. (SUN 25.38, -0.29, -1.13%) fell 1.2% to $25.35 after it swung to an adjusted loss on tough conditions in the refining industry.
