As President Trump continued his war against fake news this week, reporters around the country produced groundbreaking investigative reporting from the halls of nursing homes to the halls of power. Three longform reads that you should spend some time with this weekend:
It's been a bad year for retailers, as investors have been dumping the entire sector (except Amazon). With consumers continuing to move their shopping online, the latest victim is bulk retailer Costco, whose shares fell by nearly 6% by Friday afternoon, making it the worst performing stock of the day in the S&P 500.
Data: Money.net; Chart: Andrew Witherspoon / Axios
Why investors have soured on the company: Costco announced shrinking profit margins, combined with a plan to begin a grocery delivery service, which may end up cannibalizing more profitable in-store sales. The news seems to have served as an admission to investors that Costco—which as a bulk retailer was thought to be immune to online competition—is feeling the heat from Amazon and Walmart's stepped-up e commerce division.
The late-night comedy kings — including Jimmy Kimmel, Jimmy Fallon, Seth Meyers, James Corden, and Stephen Colbert — made no mention last night of the bombshell New York Times report uncovering more than three decades of sexual harassment allegations against famous Hollywood producer and power liberal Harvey Weinstein. Only The Daily Show's Trevor Noah made a brief aside, per Grabien.
What to watch: The silence is uncharacteristic of the hosts, who tore into former Fox News anchor Bill O'Reilly and Fox News chief Roger Ailes for sexual harassment allegations brought against them. But the hosts may have been wary of jumping the gun on the Weinstein story, given it broke just hours before the taping of their shows.
The U.S. economy lost 33,000 jobs in September while the unemployment rate fell to 4.2%, compared with economist expectations of 75,000 new jobs and a 4.4% jobless rate.
Last month was the first in seven years when the U.S. economy lost jobs. It bled 52,000 jobs in September of 2010.