Stocks headed into the weekend in the red but are taking home big gains for the week. The Dow Jones Industrial gave up more than 100 points in the last hour of trading on Greece concerns. The country’s new government is facing a deadlock with the ECB regading its bailout program. The S&P also downgraded its rating on Greece. Traders initially welcomed the stronger jobs report showing the U.S. added 257,000 jobs in January. But the excitement fizzled on worries of a potential sooner than later increase in rates. Shares of financials soared on the idea with JPMorgan (JPM) and Goldman Sachs (GS) gaining in the session. But Verizon (VZ) was the blue chips’ best performer. Shares spiked 3% on the company agreeing to sell its landline and internet businesses. Crude oil added to gains. For the week, futures are up more than 7%.
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