The Dow Jones Industrial Average fell almost 110 points or by 0.43% to end at 25,270.
The Nasdaq declined 1.04% to settle at 7,356.
The S&P 500 was down 0.63% to close at 2,723.
The Russell 2000 small cap index eased 0.19% to conclude at 1,547.
In Canada, the TSX slipped 0.23% to trade around 15,115.
12:09 PM: US benchmarks slip this afternoon as Apple weighs down tech stocks
The Dow Jones Industrial Average fell nearly 130 points with Apple as the top decliner on the index.
The tech giant’s iPhone sales missed the mark, totaling 46.89 million units compared with analyst estimates of 47.5 million.
The S&P 500 was down about 20 points by midday.
Software company Fortinet Inc (NASDAQ:FTNT) was one of the worst-performing stocks on the index after disappointing third-quarter results.
The Nasdaq dipped nearly 80 points in afternoon trading.
The Russell 2000 was up about 0.6% this afternoon with diagnostics company Pacific Biosciences of California Inc (NASDAQ:PACB) leading the way. Genome sequencing giant Illumina Inc (NASDAQ:ILMN) bought the company for US$1.2 billion.
Up north, the TSX was slipped more than 60 points as consumer staples stocks fell.
10:00 AM: US stocks jump at open on back of robust jobs report
US stocks jumped on Friday in the wake of the unveiling of better-than-forecast employment data.
The US added 250,000 jobs in October, above the consensus of 200,000, while unemployment remained steady at 3.7% its lowest level since 1969, the US Bureau of Labor Statistics (BLS) said on Friday.
Job gains took place in health care, manufacturing, construction, transportation and in warehousing, the BLS said in a release.
Also pushing higher was the tech-laden Nasdaq, which added 27 points to reach 7,461, pushed up by an 11.3% gain from its best-performer Starbucks (NASDAQ:SBUX), which stemmed from its better-than-expected earnings for the fiscal fourth quarter.
Elsewhere, the S&P 500 also added 13 points to climb to 2,753 while the Russell 2000 index of small-cap stocks rose nearly 9 points to 1,553.
The direction of the markets was also boosted by initial reports that President Trump was looking to advance towards a possible trade deal with China. The stories were later denied by the White House, however, with a senior Trump administration official telling reporters "there is a long way to go" when it comes to the trade discussions.
Up in Canada, Toronto’s TSX added 56 points to hit 15,206 on the back of renewed optimism about trade discussions between the US and China.
7:18 AM: Wall Street shares seen higher as European indices rise; October jobs report in view
Wall Street shares are set to start the last session of the week higher after a positive close and as investors are more optimistic about the US and China striking an accord.
It came after US President Trump on Thursday talked up the prospects of a deal after reportedly speaking to Chinese leader Xi Jinping on the phone.
Also on the cards later is the closely watched US non-farm jobs report for October.
In Asia overnight, the Nikkei 225 in Japan raced up a whopping 556 points, or 2.56%, while the Shanghai Composite Index added around 70 points at 2,676.
On Thursday, the Dow Jones Industrial Average closed up nearly 265 points at 25,380. The Nasdaq gained 128 at 7,434 and the S&P 500 added nearly 29.
On Friday, futures for the Dow Jones are up 240 points; the Nasdaq is ahead by nearly 15 and the S&P 500 is up around 20 points.
In Toronto last night, the TSX finished over 122 points higher at 15,150.
In Europe, FTSE 100 is up around 51 points at the time of writing to 7,166 and the German DAX is ahead by 165 points.
"With the Dow Jones set to hit a 2 week peak of 25600 when the bell rings on Wall Street – admittedly the day’s non-farm jobs report could change that – Europe got off to a blinder..," said
Connor Campbell, analyst at Spreadex, summing up morning trade.
He added: "After Red October the markets look like they’re aiming for some November fireworks, the European indices following their US and Asian peers higher as the trade war fears that flared up at the start of the week continued to unwind."
For October there is an expectation that jobs growth could bounce back closer to the 200,000 level, while hourly wage growth could hit above 3%.