Stocks Opened Lower after Payroll Report

U.S. stocks opened lower on Friday, after the September payroll report came in below expectations. The Dow Jones Industrial Average lately fell 31.65 points, or 0.14%, to 22,743.74. The S&P 500 was down 5.03 points, or 0.20%, to 2,547.04. The Nasdaq Composite lost 7.14 points, or 0.11%, to 6,578.22.

Oil prices were mixed Friday as investors waited to see the potential impact of Tropical Storm Nate on U.S. Gulf Coast oil infrastructure. November West Texas Intermediate crude fell 50 cents, or 1%, to $50.65 a barrel. December Brent crude fell 31 cents, or 0.5%, to end at $56.69 a barrel.

In September, the economy lost 33,000 jobs while the unemployment rate fell to a new post-crisis low of 4.2%. This is the first negative print for headline payroll gains since September 2010 while the unemployment rate is now at its lowest level since February 2001. Friday’s report also broke a 90-month streak of private sector job growth.

Billionaire innovator Elon Musk is pledging to meet with Puerto Rico’s governor to discuss how he could help rebuild the island’s ruined electrical grid with reliable renewable energy.