start with bob pisani at the big board, sir?> reporter: similar to january and february last year, it wasn't pretty there either. we dropped all through january. last week we stabilized january. then after a few calm days in the beginning of february, last year, we dropped again. didn't hit a bottom until the beginning of march. the big sectors, we're clearly in correction territory in some of the groups that we watch closely here. the gold stocks have been down notely. many down 7%, 8%. much of the decline is today from the january 19th highs that we saw in the market. semi cuconductors down 11%. airlines, health care services. if you find a correction more than 10%, these sectors are in connection territory. then the materials, where you get a lot of phrases like broken stocks thrown around. 20% declines or more in some big names here. u.s. steel, look at that since its earnings report, has not been the same, straight down the last three weeks. freeport mcmoran, iamgold, gold stocks down. rio tinto, alcoa, on the down side. na

i want to bring in bob pisani because when you have this positive check news how is it that we're still in a market that's moving lower? is it all coming down to the earnings and disappointments? >> yesterday i put up all of these favorable comments from the conference calls and today we just didn't have it and maybe it was a calendar, but there were a number of companies that were disappointing. i was surprised at ryder's numbers. ryder, for those who don't know, they're big into truck leasing and that's really their core business and they've been lagging. there's overcapacity in the truck leasing business and i would have thought they would have picked up more, but it hasn't. that's been the problem at ryder. >> pfizer which acquired wyeth took that into account and they still were shy and the 2010 guidance was shy. they gave guidance for 2012 and they were essentially lowering the guidance that they had given for 2012 already and 2012 is important because it posed lipitor, the biggest-selling drug of all time likely and that's a bit of a disappointment here. so i think that's questio

bob pisani is at the big board, scott's at the nasdaq. i'm sorry, rick santelli is with us. we kind of held and then in the past half an hour we dropped down. >> yeah, i think the issue still remains the dollar. it's not lost on traders. 11:30 eastern time europe closed, second day in a row, u.s. stocks

let's start with bob pisani. what are you -- how does it make you feel that we're down 41? better or worse than you thought? >> look, sell into almost any number on the nonfarm payroll unless up a hundred thousand was the mantra yesterday. they were set up for a disappointment. it was not a dispointment overall. i think it was important the average work week increased a little bit. some of the revisions were confusin confusing. i'd say all in all pretty much in line with expectations and remember to just prime to be disappointed at this point. some of the big international, industrial names throughout the morning, the deeres and caterpillars you'd expect to be weak. it's interesting con-way is up. the trucking industry has problems. we're slowly seeing improvement in volumes and tonnage but pricing is a problem. ryder leases trucks. con-way is a truck shipper of goods. shipping is improving but pricing isn't. over capacity is a real issue. let's move on. i'll show you tyson here. good news for tyson is the chicken volumes have improved noticeably and the beef volumes. they

i'm here with bob pisani. the market sort of went, woo, what are we going to do on this one and now just kind of -- >> it's good news. the ism manufacturing number was good, too. >> expansion not contraction. >> and here is the thing about the nonmanufacturing number. it's 90% of the economy. we were traditionally raised and brought up manufacturing but it's the ism nonmanufacturing, the services that really matter. >> job additions in services this morning on the adp. >> right. and heaven knows there is some point in the bright, shiny future, i hope friday, when we'll actually see job growth. who knows? that would be the first time in two years we've seen a month of print positive. >> it would have to be yes. >> i know we're expecting modest job losses on friday you about number today bodes well for some kind of increase in the near future. in the meantime today a little disappointing if you sit around like i do with no life and read all the earnings reports. it's the opposite of yesterday because yesterday t

to bob pisani we go. >> the dow, 9999.99, our dallas humor joke, we need to get out the dow 3.0 hats. jobless claims a bit on the disappointing side. let me go about what was going on here. a comment out of the white house press secretary robert gibbs that made people less optimistic about the jobs report. he said jobs revisions could be greater than expected here. we're back above 10,000 on the dow. that got a lot of comments from traders. there will be revisions, probably 2007 and 2008 that will be for tomorrow. the other big issue was the subprime issue, greece being described as the new subprime. why would they do this? subprime was an issue poo pooed initially and became greater because of the contagion risk. they i ear saying that's a similar analogy of how greece could be doing. they won't make the same mistake with subprime. that's for sure. gold the big issue. big commodities names were to the downside. about 5% decline in oil, 4% decline in gold, copper down just about 4% here. how about gold overall? what was the issue? three major points that traders made to me this aftern

cnbc's bob pisani, brian shactman, due herera, ceo of richard person steel capital management.ow jones industrial average on the downside in the triple digits at the lows of the afternoon at 4:00, as you can see, here is a chart at 9999, the market slipping below that key 10,000 mark, breaking certain resistance and support levels, not only on the dow, but the s&p 500 as well. nasdaq gave up 3% today even though there were bright spots on the upside. for example, cisco was higher on the heels of better than expected earnings. s&p 500 down to 10,062. we talked earlier that the next

our team has the market covered from here in new york, up in chicago let's begin with bob pisani, our eye on the floor today. >>

bob pisani, an interesting set of numbers. >> it was.ets were set up, erin, for a disappointing report beginning with yesterday but it didn't happen. futures are up six, seven points since the report came out at 8:30. here is stock news. tyson is doing great, up about 5%. beef and chicken volumes improved dramatically. they beat their numbers by a wide margin. conway is another disappointment. rememberride earth other day? the whole trucking industry a disappointment. numbers are good but the pricing remains very, very poor. air products is unveiling a big, hostile takeover for air gas here. those stocks are moving this morning. i'll have more on that and what it might mean at 9:30. marriott is bringing back its dividend and here's