Labor Data Shows Mixed Signals

After yesterday's sharp declines in the equity markets on sovereign debt concerns in Europe and uneasiness toward the employment picture, stocks are slightly higher, paring early losses in morning action as traders are dissecting the labor report, which showed the unemployment rate dipped below 10%, while payrolls unexpectedly fell in January. Treasuries briefly moved higher following the labor data, but have moved back into negative territory. The focus on jobs is overshadowing some light equity news, which showed Aetna missing the Street's profit projections, while Tyson Foods easily topped analysts' forecasts. Overseas, Asian markets tumbled in response to yesterday's global slide on the aforementioned employment and sovereign debt concerns, and Europe is extending losses.