The daily business briefing: November 4, 2016

1. U.S. economy adds a solid 161,000 jobs in October

The U.S. economy added 161,000 non-farm jobs in October, according to the jobs report released Friday. The gains fell just short of the 175,000 increase predicted by economists surveyed by MarketWatch. Hiring figures from the two prior months also were adjusted slightly higher than initially reported. Together, the figures added to recent upbeat data supporting expectations that the Federal Reserve will decide that the economy is strong enough to justify nudging interest rates higher in December. The unemployment rate dropped to 4.9 percent in October, down from 5 percent, and hourly wages rose by 0.4 percent.

MarketWatch Bloomberg

2. World Series finale most-watched baseball game in a quarter century

More than 40 million people watched Game 7 of the World Series, making the cliffhanger finale the most-watched baseball game in 25 years. The 10-inning game, in which the Chicago Cubs ended a 108-year championship drought by beating the Cleveland Indians 8-7, capped a series that was already a ratings success. Game 5, in which the Cubs started their comeback from a 3-1 deficit in the best-of-seven series, was watched by more people than that evening's Sunday Night Football match-up between the Dallas Cowboys and the Philadelphia Eagles — the first time a World Series game has topped SNF since 2013.

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Variety

3. U.K. government says it will challenge Brexit ruling

British cabinet ministers said Thursday that the government would challenge a High Court ruling requiring a parliamentary vote before officially starting negotiations for the U.K. to leave the European Union. Brexit Secretary David Davis said the government had "the biggest mandate in history" to get the process underway after 17.4 million voters backed exiting the E.U., and that waiting for lawmakers' approval would disrupt the government's plans to get the job done. The court will consider the appeal next month.

BBC News

4. S&P 500 continues to slide on election jitters

The S&P 500 fell for an eighth straight session on Thursday, weighed down by a warning from Facebook that its revenue growth was headed for a slowdown. Facebook shares dropped by 5.7 percent, and the S&P 500 lost 9 points, or 0.4 percent. The big-stock index is on its longest losing streak since the 2008 financial crisis. Another factor dragging down stocks has been increasing uncertainty about the looming presidential election. Investors view Democrat Hillary Clinton, who has been leading in polls, as a known quantity. In recent days, however, Republican Donald Trump has gained in some surveys, and investors don't know what to expect if he wins, analysts say.

Reuters

5. GoPro shares dive after gloomy quarterly report

GoPro shares plunged by 20 percent in after-hours trading following a dismal quarterly report on Thursday. The action-camera maker said it had swung to a $104 million loss, or 74 cents a share, in the third quarter, from a profit of $18.7 million a year earlier. The company's revenue dropped by 40 percent, and CEO Nick Woodman said fourth quarter sales would be lower than previously expected because of production issues with the new Hero 5 camera and Karma drone.

USA Today