In This Story
Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
The U.S. economy added just 12,000 jobs in October. A lot of that was because of strikes, hurricanes, and other economic shocks.
Boeing (BA-0.35%) machinists will vote on yet another contract. Maybe the fourth time, and with it a 38% raise offer, will be the charm.
United Airlines (UAL-2.23%) flew high in October. The carrier’s shares ascended by 40% during the month.
Amazon’s (AMZN+2.46%) Alexa is having a hard time learning AI. The e-commerce giant will have to “rearchitect the brain,” of its smart voice service to get it on board.
Michael Bloomberg says he voted for Kamala Harris “without hesitation.” The financial services billionaire called Donald Trump’s tenure “a shameful episode.”
AI’s price tag looms larger than ever
America’s biggest tech companies — Microsoft (MSFT+2.73%), Amazon, Apple (AAPL+1.95%), etc. — have all invested heavily in a business pivot to AI. They’re hoping to install themselves in the future of a transformational new tool, but Wall Street is wondering how long those bets will take to pay off.
Though there have been a number of predictions that AI will be an essential part of the working world to come, working towards a spot as a go-to provider of the technology is a multi-billion-dollar endeavor in the future. Part of the pitch tech leaders are making now has become less about what will happen and more about how all the money being spent to get there isn’t going to waste.
Will markets have enough patience to look the other way with Silicon Valley’s AI spending? Quartz’s Jackie Snow gives a lay of the land.
Trump Media jumps, gets dumped
Trump Media, the parent company of Donald Trump’s Truth Social platform, had a weird October. At one point, its stock was up by triple digits; in the last few days before the presidential election it gave back half of those gains.
Some analysts think that Trump Media is an “affinity” stock for the Republican nominee. Its volatility might reflect growing uncertainty about how well Trump will fare when all the ballots have been cast.
Will a poor election result for Trump send the company to zero? Quartz’s Rocio Fabbro runs down the stock’s October surprise.
THIS WEEK AT QUARTZ
Look for stories about:
🗳️ What to watch in the markets during Election Week (by Vinamrata Chaturvedi)
🧐 The stakes of the election for Elon Musk (by William Gavin)
🛞 The best tires for your car right now (by Ben Kesslen)
🎄 Ski towns that would make for the most luxurious Christmas (by Madeline Fitzgerald)
💳 The worst credit cards you can get right now (by Ben Kesslen)
SURPRISING DISCOVERIES
Billboard was not always a magazine about the music industry. It used to be about literal billboards. (paywall)
The fashion industry is turning marathons into runways. For the first time, the New York City Marathon had a beauty sponsor. (paywall)
For the first time ever, Jaguar has no new cars for sale in the U.K. The famed British automaker will keep to selling used cars until its next model comes out in 2026.
NFL team owners are not sticking to sports. Members of the exclusive club have collectively increased their political spending for this election by sevenfold compared to 2020. (paywall)
Here’s yet another reason not to read the comments. Russian disinformation campaigns are alleged to be using comment sections to spread baseless conspiracy theories. (paywall)
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Our best wishes on a safe start to the day. Send any news, comments, used Jaguars, and budgeting tips for AI infrastructure development to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Audrey McNamara.