Matt Egan

Good news after a wild week: October job growth blew away expectations.

-Unemployment rate fell
-Hiring continues to broaden out
-Prior months revised higher

But real wages are still shrinking.

Does all of this set the stage for a December rate hike?

More with @JohnBerman

Train-wreck in tech wipes out $2.5 trillion in value

Wall Street clearly underestimated the scale of backlash to AI & data centers.

@DivesTech says this wipeout is "way overdone" and this is one of those "golden buying opportunities" like in 2020 & 2025.
More with @JohnBerman

The AI trade faces new obstacles: The blue tsunami may slow down the data centers powering the boom

@yardeni sees a silver lining: "We want a slowdown in the AI buildout. It was too frenzied and speculative... It’s better to let air come out of the AI bubble than let it burst.”

Gasoline -- a critical indicator of the cost of living for many Americans -- has never been this expensive on Election Day.

Even though gas prices have retreated recently, today's national avg. of $4.15 shatters the prior Election Day record of $3.80 under Biden

As voters head to the polls, they will be driving past a constant reminder of inflation and the Iran war: the most expensive Election Day gasoline on record.

Given the US average of $4.17, nominal gas prices are on track to shatter the prior Election Day record of $3.80 in 2022