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Unemployment came in at a much worse 7.2% headline number, but the loss of non-farm payrolls came in right in line at -524,000 this morning. This and this alone set the tone for the market today and everything else was just a footnote. Here are today's unofficial closing bell levels:

Dow 8,599.18 -143.28 (-1.64%)
S&P 500 890.35 -19.38 (-2.13%)
Nasdaq 1,571.59 -45.42 (-2.81%)

Top Analyst Upgrades
Top Analyst Downgrades

Caterpillar Inc. (NYSE: CAT) was noted somewhat positively by Jim Cramer as one of his DJIA picks on CNBC's MAD MONEY last night. Be advised that he only wants people to buy on pullbacks rather than at the market. Shares pulled back and were down over 1% at the close.

Chevron Corp. (NYSE: CVX) was down only about 1% late in teh day at $73.25. That is surprising since it said results would be significantly lower than its prior quarter.

Coach Inc. (NYSE: COH) was another doozy today with shares down more than 12% at $18.28 late in the day. This was after an earnings warning and a zero-visibility implication when it said it would not offer forward guidance.

Citigroup Inc. (NYSE: C) was the subject of more news than usual. It has about $2 billion in direct exposure to Lyondell Basell Industries in that bankruptcy issue. Then came late-day reports that Bob Rubin was out of the board of directors. And to add even more fuel to the fire, a report from CNBC's David Faber called Citi close to putting Smith Barney out of the company and into a joint venture with Morgan Stanley.

Palm Inc. (NASDAQ: PALM) shares were up almost another 40% at $6.18 on exponential volume late in the day.

Closing Bell: Unemployment figures come in worse than expected originally appeared on BloggingStocks on Fri, 09 Jan 2009 16:05:00 EST. Please see our terms for use of feeds.

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