Recapping the day's news and newsmakers through the lens of CNBC.
The drumroll has been building all week for the all-important jobs report, with high hopes it would prove the economy's really strengthening. Well, maybe next month's report will be better. This one shows 169,000 jobs created in August, well shy of the 180,000 expected. The June and July figures were sharply reduced.
Unemployment did decline a tad to 7.3 percent, from 7.4 percent, but only because fewer people are looking for work.
Overall, the numbers seem to support the prospects that the Federal Reserve will announce a modest reduction in its bond-buying program rather than a large one at its Sept. 18 meeting. That might reassure investors worried that a bigger cut would undermine stocks and bonds.
Others say not to make too much of the disappointment: It was the U.S. porn industry's fault.
"It should do wonders for settling some of the indigestion suffered by worrywarts in the bond market. The word 'Goldilocks' springs to mind somewhere, but we're not quite sure where to place it."
—Andrew Wilkinson, chief economic strategist at Miller Tabak
"It does make it so the taper is going to be light."
—CNBC's Jim Cramer