Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Harris Private Bank CIO Jack Ablin recommends that investors immediately reduce some of their stock market exposure. Ablin said he made the call after a key momentum indicator he follows reached its "breakdown" level when the S&P 500 fell 5 percent below its 200-day moving average to 1051.
Soured by last week's U.S. employment report, investors are heading to the high ground in an effort to avoid fall out from Europe.
The weakening euro could continue to strong-arm markets in the week ahead, as investors worry about contagion from Europe's sovereign debt crisis and the potential for a bigger setback in the U.S. economic recovery.
Even if there is a blow away jobs number Friday, many economists expect the report will show fewer private sector jobs were created in May than in April.
Markets are already looking ahead to Friday's jobs report, and for that reason, even more weight than usual will be given to Thursday's weekly jobless claims and ADP's private sector jobs data.
Wall Street may finally shift its focus back to the U.S. economy, after weeks of zeroing in on problems in the euro zone. The big report of the week? Friday's May employment number, which could be a game-changer.
Stocks wind down what's shaping up to be the worst May since 1962 but could end the week on an upswing, if there's no fresh bad news from Europe.
The late day selloff in stocks Wednesday shows the euro is still the tail wagging the dog when it comes to markets this week. After trading higher most of the day, stocks turned south after the euro dipped below the $1.22 level in afternoon trading.
Traders fret the only thing that will halt the volatile selling in risk assets is a clear solution to Europe's sovereign debt crisis, and that seems elusive.
Greece looms large, but markets will still search for clues as to Fed thinking in the week ahead, after June's jobs report.
ETFs being used to hedge Greece crisis
More than 120 companies have registered for an IPO, including several well-known names.
June's softish jobs report may give the Fed pause.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
Senior Producer at CNBC's Breaking News Desk.
Dominic Chu is a markets reporter for CNBC.
Evelyn Cheng is a markets writer for CNBC.
Sara Eisen is a correspondent for CNBC, focusing on currencies and the global consumer.