13 Most Important Business Stories for Today

BOSTON (TheStreet) -- The U.S. employment report leads your quick fix of company, market, economic and investing news for Friday, Oct. 7, as the Labor Department is expected to say job growth in the U.S. was sluggish for a fifth straight month in September.

The Big Story

A full preview of the U.S. non-farm payrolls report, due out at 8:30 a.m. New York time Calculated Risk

Job growth blew past expectations and the unemployment rate fell ... in Canada. Business Insider

If employment were to increase by about 60,000, that would be only half the jobs growth needed to maintain a stable unemployment rate. Politico

Those unemployed in the U.S. are so fed up with the state of the nation, they are willing to forgo an extension of jobless benefits. NY Times

Don't forget to join TheStreet for our live blog covering the U.S. jobs report. TheStreet

Quote of the Day

"Moody's believes that the government is likely to continue to provide some level of support to systemically important financial institutions, which continue to incorporate up to three notches of uplift. However, it is more likely now to allow smaller institutions to fail if they become financially troubled," Moody's ( MCO) analysts say of this morning's downgrade of 12 U.K. banks. FT Alphaville

Company News

Hewlett-Packard ( HPQ), pay attention: IBM ( IBM) makes intriguingly boring mergers that makes sense. Wall Street Journal

Thinking about a beer because it's Friday? MolsonCoors ( TAP) may look valuable because of industry consolidation, but it is overvalued. Frankly Speaking

Has Apple ( AAPL) jumped the shark? Upside Trader

Markets

What sector rotation in October says about the current state of the stock market. Afraid to Trade

The Senate wants to punish China over currency manipulation. Isn't this a pot/kettle situation? NY Times

As much as I love to point out where Grandpa Buffett is wrong, he was very right with his bet on railways, where there is no sign of a recession. Pragmatic Capitalism

Slowly letting the hot air out of China's housing bubble. Reuters

Investment Strategy

It's almost earnings season. Here's a list of stocks that are volatile on reporting day, including Netflix ( NFLX), Travelzoo ( TZOO) and Intuitive Surgical ( ISRG). Bespoke Investment

Buy the SPDR Trust Gold ETF ( GLD)? Why bother? Just buy some gold bars, put them in a PVC pipe, and bury it all in your backyard. Bloomberg

The hedge fund bloodbath continues, as September's slump of 3.2% is the worst performance in more than a year. Bloomberg Businessweek

Speaking of losing hedge funds, John Paulson can't catch a break: The U.K.'s Premier Foods, another Paulson investment, drops 30% Friday. Business Insider

Odds and Ends

Meet Ellen Johnson Sirleaf, Leymah Gbowee and Tawakkul Karman. These three women share the Nobel Peace Prize for their "nonviolent struggle for the safety of women and for women's rights to full participation in peace-building work." Wall Street Journal

Occupy Wall Street reports from the ground. Lots of smokers, no drunks. CNBC

It's Friday. Get excited for the weekend. Here's a song by the Clash. YouTube

-- Written by Robert Holmes in Boston.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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