U.S. Stocks Slip on September Jobs Report; Honeywell Lowers Outlook

U.S. stocks moved lower Friday after the latest economic from the U.S. government showed employers added fewer jobs than expected in September. 156,000 jobs were created during the month, while analysts were expecting 168,000. The unemployment rate ticked higher to 5%, a sign fewer people have given up looking for work. Average hourly earnings rose 2.6% year-over-year. In other news, Honeywell (HON) - Get Report shares slipped after the company cut its third quarter earnings outlook. The company now expects earnings of $1.67 a share in the third quarter, while analysts were expecting $1.70. A wave of volatility hit the British pound overnight, with the currency losing 6% against the dollar in a mere two minutes in a so-called flash crash. The pound has rebounded to $1.23. The currency's price swings began earlier in the week after UK Prime Minister Theresa May said the withdrawal process from the EU was set to begin in March 2017. TheStreet's Scott Gamm reports from Wall Street.