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From Briefing.com: 4:30 pm : Four straight losses have the stock market down nearly 4% week-to-date. The most recent slide came amid some rather uninspiring data and some mixed earnings reports.

Market participants initially had a somewhat positive reaction to premarket data that showed durable goods orders for May fell 1.1%, which was softer than the expected 1.3% decline, and orders less transportation increased 0.9%, which was a slower clip than the 1.3% increase that had been anticipated.

The durable goods orders figures were released at the same time as the initial jobless claims count for the week ended June 19. The latest lot of claims declined 19,000 week-over-week to 457,000, which was largely in-line with the 460,000 initial claims that had been widely expected. Continuing claims fell 45,000 week-over-week to 4.55 million, which was also on par with what had been expected.

Though the data wasn't inspiring, it didn't disappoint either. In turn, there was a sense of relief among many market participants, given the salience of yesterday's worst new home sales report on record and the disappointing jobless claims report from the prior week. Still, the stock market started the session in the red and quickly fell under a sharp, broad-based selling effort.

Earnings didn't do anything to offer support. Nike (NKE 69.63, -2.89) posted in-line earnings and Bed Bath & Beyond (BBBY 39.12, -2.34) brought in better-than-expected earnings, but that was overshadowed by the company's weak forecast. Best Buy (BBY 35.74, -0.89) treated investors to a 7% increase in its dividend, but that was largely ignored by the broader market. Shares of retailers were dropped for a collective loss of 2.7%.

All 10 major sectors settled in the red after an afternoon attempt to lessen losses failed. Instead, the broader market finished near its session low in its worst performance of the week. Even utilities logged a 0.3% loss after it had spent the first several hours in higher ground.

Volatility spiked as result of the stock market's selloff. That sent the Volatility Index more than 10% higher. It has been nearly three weeks since it moved so sharply.

Despite the increase in volatility and the widespread weakness among stocks, Treasuries were unable to sustain gains. Early support for the benchmark 10-year Note caused its yield to set a new 52-week low near 3.07%, but the Note fell to a fractional loss after a 7-year Note auction produced a bid-to-cover of 3.0 and dollar demand of $90.3 billion.

Currencies oscillated for most of the session before the U.S. dollar made a flat finish. The euro managed to make a modest gain of 0.2% against the greenback after it had been in the red during early action.

Precious metals found support. They had actually been weak in the early going, but were able to attract buyers as the stock market succumbed to broad-based selling. Gold prices closed pit trade at $1245.80 per ounce, up 0.9%, and silver settled at $18.71 per ounce, up 1.3%.

Advancing Sectors: (None)
Declining Sectors: Consumer Discretionary (-2.5%), Materials (-2.4%), Financials (-2.1%), Energy (-2.1%), Tech (-1.8%), Industrials (-1.8%), Telecom (-1.5%), Consumer Staples (-0.9%), Health Care (-0.8%), Utilities (-0.3%) DJ30 -145.64 NASDAQ -36.81 NQ100 -1.6% R2K -1.7% SP400 -1.8% SP500 -18.35 NASDAQ Adv/Vol/Dec 637/2.05 bln/1998 NYSE Adv/Vol/Dec 690/1.26 bln/2336

4:22PM Research In Motion beats by $0.04, misses on revs; guides Q2 EPS above consensus, revs in-line (RIMM) 58.59 -1.04 : Reports Q1 (May) earnings of $1.38 per share, $0.04 better than the Thomson Reuters consensus of $1.34; revenues rose 23.7% year/year to $4.24 bln vs the $4.35 bln consensus. Co issues mixed guidance for Q2, sees EPS of $1.33-1.40 vs. $1.31 Thomson Reuters consensus; sees Q2 revs of $4.4-4.6 bln vs. $4.5 bln Thomson Reuters consensus. Co authorized a share repurchase program to purchase for cancellation up to approximately 31 mln common shares. Co reports Q1 gross margins of 45.4% vs 44.5% company guidance. Co reports Q1 units shipped of 11.2 mln vs 11.2-11.8 mln guidance. Co reports Q1 net subscriber adds of 4.9 mln vs 4.9-5.2 mln guidance

4:06PM Oracle beats by $0.06, beats on revs (ORCL) 22.22 -0.46 : Reports Q4 (May) earnings of $0.60 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.54; revenues rose 39.9% year/year to $9.6 bln vs the $9496.7 mln consensus. ORCL reports Q4 non-GAAP operating margin of 46.0% vs 42.2% consensus; co reported 45% last qtr and 51.1% prior Q4. Non-GAAP software license updates and product support revenues were up 13% to $3.5 billion. "We estimate that Sun contributed over $400 million to non-GAAP operating income in our Q4," said Oracle President, Safra Catz. "This compares with a loss in Sun's quarter ending June of last year, when Sun was an independent company. Now that Sun is profitable, we have increased confidence that we will meet or exceed our goal of Sun contributing $1.5 billion to non-GAAP operating income in FY2011, and $2.0 billion in FY2012."

4:03PM FSI Intl beats by $0.02, beats on revs; guides AugQ revs in-line (FSII) 4.58 -0.07 : Reports Q3 (May) earnings of $0.18 per share, $0.02 better than the Thomson Reuters consensus of $0.16; revenues rose 85.8% year/year to $28.7 mln vs the $28.1 mln consensus. Co issues in-line guidance for Q4 (Aug), sees Q4 revs of $27-30 mln vs. $29.4 mln Thomson Reuters consensus.

8:13AM On The Wires : IBM (IBM), Samsung Electronics, GLOBALFOUNDRIES and STMicroelectronics (STM) said that the four companies are collaborating to synchronize semiconductor manufacturing facilities for the production of advanced chips based on 28nm process jointly developed by IBM Technology Alliance...

8:10AM On The Wires : Advanced Energy Industries (AEIS) announced that it has expanded its service facility and installed a new manufacturing line for its RF generator products, located in Sungnam City, South Korea. The company began shipping its first Korean-manufactured product, earlier this month...