hot air balloon

The big news was in US economic, with the October jobs report release showing the economy added fewer jobs than expected.

We’ve got all the headlines, but first, the scoreboard:

  • Dow: 23,523.36, +7.10, (+0.03%)
  • S&P 500: 2,587.41, +8.00, (+0.31%)
  • Nasdaq: 6,763.07, +48.26, (+0.72%)
  1. The US economy added 261,000 jobs in October. The report fell short of the 331,00 expected by economists. The unemployment rate did, however, fall to 4.1% — a 17-year low. Earnings were weak, growing by 2.4% year-on-year, versus expectations of 2.7%.
  2. Broadcom is mulling an acquisition of rival Qualcomm. The possible deal, reported by Bloomberg, would merge two of the biggest semiconductor manufacturers. Prior to the news, Qualcomm was valued at roughly $80 billion. Both companies saw their stock rise following the report, with Qualcomm jumping just over 13% for the day.
  3. The GOP tax plan includes a “bubble tax” on those making more than $1 million. The increased rate would claw back the benefit from getting the first $45,000 of taxable income for an individual taxed at a marginal rate of 12%.
  4. Sears and Kmart announced 63 more store closures. The struggling retailer will close 45 Kmart stores and 18 Sears stores across the country. The news comes after Sears got a $60 million dollar loan from the hedge fund owned by its CEO, Eddie Lampert.
  5. Equifax said its executive did not engage in insider trading. A special committee formed by its board concluded that the executives who sold stock in the company ahead of the disclosure of the massive data breach did not engage in insider trading.


A key middle-class tax break in the Republican plan is temporary — and that doesn’t make much sense

Traders were betting against Papa John’s long before the NFL’s national-anthem controversy

The Republican tax plan imposes a new divorce penalty

‘NEW ENERGY’: Analysts are bullish about Apple’s strong Q4 earnings

Fake meat and free markets: Here’s how North Korea feeds itself

Starbucks’ fastest-growing menu category has nothing to do with coffee

SEE ALSO: These 10 US cities saw the biggest wage increases in October

Join the conversation about this story »

NOW WATCH: How the iPhone X could make Apple a $1 trillion company