Facebook shares take a hit after whistleblower speaks out


The S&P 500 traded higher last week despite another disappointing monthly U.S. jobs report.

On Friday, the Labor Department reported the U.S. economy added 194,000 jobs in September, well short of economist estimates of 500,000 jobs. The U.S. unemployment rate dropped to 4.8% and wages grew 4.6%, but September marked the second straight month job growth has disappointed by a wide margin. 

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On Thursday evening, the Senate passed a compromise bill that allows for a short-term increase of $480 billion to the U.S. debt ceiling. The House must now vote to approve the bill, which the Treasury Department estimates would extend the deadline for a potentially unprecedented U.S. debt default from Oct. 18 to Dec. 3.

An outage on Facebook around midday today has resulted in fewer options for municipalities to get news out.

Facebook shares traded lower on the week after a whistleblower who leaked internal documents to the Wall Street Journal appeared on “60 Minutes” and testified before Congress that Facebook routinely prioritizes profits over the well-being of its users and society as a whole.

Facebook and its subsidiary platforms Instagram and WhatsApp also experienced a more than six-hour outage on Monday that the company later blamed on “configuration changes.”


Read More: Facebook shares take a hit after whistleblower speaks out