Weak Jobs Report Weighs on Markets

Here is whats happening in trading midday Friday, October 6.

U.S. indices were falling across the board Friday following a weak September jobs report release before the opening bell. Hurricanes Irma and Harvey caused the U.S. economy to lose more jobs than it created in September for the first time since 2010.

Economists were expecting the economy to add 85,000 jobs in the month, instead, it lost 33,000. In spite of this, the jobless rate fell to 4.2%, its lowest level since December 2000.

Big box retailer Costco (COST) - Get Report was one of the markets' biggest losers Friday, falling more than 6% after the company reported that its margins were squeezed in its most recent quarter. Margins dropped by 15 basis points. Sales were still strong, though - for the full year, sales increased 9%, while same-store sales rose nearly 4%.

The nightmare rollout of Apple's (AAPL) - Get Report iPhone 8 continued Friday following reports that the phone's battery. A device in China reportedly split open, possibly due to a problem with the battery. There were similar reports earlier this week and a spokesperson told MacRumors that Apple was looking into the issue.