TheStreet Live

Wall Street heads into the new week looking at the fallout from Friday's ugly jobs report. Federal Reserve Chairwoman Janet Yellen will give a speech at 12:30 ET this afternoon in Philadelphia that will be weighed very carefully. She will take questions from the audience. By just about every account, a Federal Reserve rate hike at the Fed meeting next week is off the table. Snapchat has quietly bought a company called 'Seene'. Seene is a computer vision start-up that lets mobile users make 3D selfies. Techcrunch reports the technology allows 3D selfies with a normal smartphone and could someday be used in virtual reality. JPMorgan Chase is going business casual. The Wall Street Journal reports on a memo that more of its clients are dressing informally so it will allow its bankers to dress more casual as well.

Stocks ended the day around session highs even as Fed Chair Janet Yellen remained vague on the central bank's rate-hike plans. Crude also helped fuel gains after spiking more than 2% to close near the $50-mark. The U.S. is still on track for further rate hikes, according to Yellen who did not give a timeframe though said further gradual moves would "probably" be appropriate. Yellen also noted the Fed does not rely on a single data point such as the weak May jobs report to determine policy. Hertz climbed after making official a plan to separate its equipment-rental unit from its core car-rental business. Hertz's board approved the move which will take effect June 30. Morgan Stanley has named Lowe's as one of its top investment ideas. The firm has an OVERWEIGHT rating.

Stocks held highs ahead of a speech from Federal Reserve Chair Janet Yellen. Yellen's insights will be picked apart for clues as to when the central bank could next hike rates after initial liftoff in December. Micro-cap driller Hercules Offshore slid after filing for bankruptcy protection wherein it will put all its assets up for sale. Hercules filed Chapter 11 restructuring plans last month, the terms of which most of its debt holders have accepted. Harley-Davidson was downgraded to neutral from buy at Goldman Sachs. The firm said checks suggest that company registration growth has stalled relative to the industry. A $50 price target has been set.

U.S. stocks sunk on Friday, following a much weaker-than-expected May jobs report. The economy added 38,000 jobs in May, missing estimates of 158,000. The labor force participation rate continued to fall in May for the second month in a row, after rising for roughly six months. The unemployment rate dipped to 4.7 percent, but the April and March jobs numbers were revised downward. Avianca Holdings shares surged on reports it might be weighing a sale. The Wall Street Journal reports that United Continental Holdings and Delta Airlines may be interested in acquiring the airline. Finally, Broadcom shares on the rise after beating analysts' estimates on the top and bottom lines. Revenue rose 119 percent year-over-year to $3.56 billion. TheStreet's Scott Gamm reports from Wall Street.

Friday's focus is on the May jobs report.

Stocks clawed back from session lows to settle with only modest losses. A big bust on the May jobs report had led Wall Street in a selloff earlier in the day. Stocks were mixed for the week. Crude oil closed below $49 a barrel after the number of active U.S. oil rigs drilling for crude rose by nine in the past week. That's one of the largest increases so far this year. Crude closed down 1.4% for the week. Ambarella moved sharply higher after topping estimates in its first quarter. The camera chipmaker's management expects increased demand for drones, wearables and home security to drive growth in the second half of the year. GrubHub has added Apple Pay as one of its payment options, meaning users can tap into their Apple ID info through the app.

The U.S. jobs report for May came in well below expectations, sparking worries over the health of the economy even as the chances of a summer rate hike diminished. The big miss triggered big losses for financials. Factory orders in April came in far stronger than forecasts. That's a positive sign that manufacturing headwinds such as weaker global demand and a strong U.S. dollar have begun to subside. The services sector grew at a slower-than-expected pace. The non-manufacturing ISM index for May was weighed on by its new orders and employment components. Service sector sentiment fell to its lowest level since early 2014. Gap turned higher despite reporting a 5% decline in sales last month.

U.S. stocks opened slightly lower on Thursday, as investors parsed commentary from European Central Bank President Mario Draghi, following its June policy meeting.

Oil prices are steady as markets await on OPEC's decision on oil production. The ministers are meeting in Vienna. While no surprises are expected, it will be the first OPEC meeting attended by Saudi Arabia's new Energy Minister. There is less pressure to cut production of oil as prices have doubled since the winter. Uber just raised $3.5 billion from Saudi Arabia's investment fund. The Saudi sovereign fund investment values Uber at $68 billion. Uber was only launched 6 years ago and has raised the most of any startup, so far, as it tries to disrupt public transportation. The Obama Administration is expected to announce today the Federal Government's first move to regulate high interest, low dollar 'payday loans', which is currently left to the states. Among the proposals today will be to require lenders to do more to assess a person's ability to pay back the money.

Stocks managed to end with slight gains, though investors did appear cautious ahead of Friday's jobs report. Crude boosted equities after closing in the green for the first session in five. Cloud-computing company Box was sharply lower after reporting a slowdown in quarterly billings growth, a proxy measure of future performance. A disappointing quarter prompted JPMorgan to downgrade to NEUTRAL. Franklin Resources stumbled after UBS cut its rating to SELL. Analysts said the recent pace of outflows confirmed previous concerns around the company's growth strategies. Exelon plans to shut two nuclear power plants in Illinois. The largest nuclear plant operator in the U.S. said the shutdowns were tied to a lack of progress on state legislation that would have made operations economically feasible.