I'm Caroline Woods reporting from the New York Stock Exchange here's what we're watching on the street today it was a rough first trading day of the month with the Dow NASDAQ and S&P all finishing in the red new economic slowdown fear stoked the selloff as the manufacturing sector showed signs of weakness in August investors are also looking ahead to Wednesday's joltz report as well as the release of the Federal Reserves beige book in other news Costco has officially hiked its membership price for the first time in 7 years back in July the wholesale retailer said it would increase the membership fees for three of its plans gold star business and business add-on and now Costco is increased a fourth it's executive membership the membership fees have increased by $5 to $65 depending on your plan Costco says 52 million memberships will be impacted by the price increases with more than 50% of them coming from its executive tier in 20123 the company brought in $4.6 billion in revenue for membership fees and 8% increase for from 2022 but the price hikes aren't Costco's only big change it continues to crack down on membership sharing as well Shoppers are now required to scan their membership card as they enter the store and have been encouraged to use a card with their photo on it Costco now also requires all non-members to be accompanied by someone with a membership making it more difficult to share cards amongst family and friends that'll do it for your daily briefing I'm Caroline woods with the street