At the opening bell

S&P futures vs fair value: -11.80 at 907.40. Non farm payrolls continues to contract in June, down 467,000. It surpassed the expectations. The unemployment rate rose to 9.5%, up slightly from the prior reading of 9.4%.

Meanwhile, jobless claims data wasn't as disappointing as the unemployment situation. New claims in June climbed down to 614,000 from the prior data of 627,000.

Participants reacted to the news. S&P 500 is trying new lows at the pre-market trading, down 14 points at 905.20.