Good morning.

Today:

  • Unemployment is the highest it’s been since 2021

  • Elon Musk is first person with a net worth of $600 billion

  • Nasdaq is filing for 23-hour-a-day trading

The wealth gap between retail and the upper echelon of the wealthy feels rigged, but we aren’t powerless. Buying stocks and reading the signs of the times are how we fight our own battles.

Let’s dig in.

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📰 Market Headlines

Markets slipped on Monday as tech stocks extended their slide ahead of Tuesday’s jobs report.

The November jobs report is in, and it’s a bit confusing. There were 14,000 more jobs added than expected, which is a good thing, but then the unemployment rate is actually higher than expected. In fact, it’s 4.6%, the highest it’s been since 2021. Also, average hourly earnings were lower than expected, both on the MoM and YoY time frames (see table below).

  • What this means: The labor market is clearly cooling, which is what the Federal Reserve wants. We’re curious if the Fed will look at lowering rates yet again in January after this, though. Given that the Fed has already cut rates three times in 2025, and this report shows the most critical metric (wage inflation) is slowing rapidly, this data could strongly support the path for further rate cuts in early 2026.

Metric

Consensus Estimate

November Actual

Difference

Nonfarm Payrolls (Jobs Added)

+50,000

+64,000

+14,000 (Beat)

Unemployment Rate

4.5%

4.6%

+0.1% (Miss)

Avg. Hourly Earnings (MoM)

+0.3%

+0.1%

-0.2% (Miss)

Avg. Hourly Earnings (YoY)

+3.6%

+3.5%

-0.1% (Miss)

Nasdaq filed with the SEC on Monday to roll out round-the-clock trading starting in late 2026. The exchange plans to expand from 16 to 23 hours of trading five days a week, with a day session running from 4 a.m. to 8 p.m. and a night session from 9 p.m. to 4 a.m. Total foreign holdings of US equities reached $17 trillion last year, driving demand for extended access.

Ford retreats from EVs dramatically, taking a massive $19.5 billion writedown and killing several electric models. The company will stop making the F-150 Lightning in its electric vehicle form and scrap the next-generation T3 truck, pivoting instead to gas and hybrid models. About $8.5 billion of the charge relates to cancelled EV models, with Ford citing President Trump's policies yanking federal EV support after the $7,500 tax credit expired.

Elon Musk became the first person worth $600 billion yesterday according to Forbes, boosted by SpaceX preparing to go public at an $800 billion valuation. Right after that, he became the first person with a $675 billion net worth, pushed higher by his 42% SpaceX stake. Tesla shares also jumped nearly 4% Monday after Musk said the company was testing robotaxis without safety monitors.

AltIndex sent a bullish Reddit alert for Costco (COST) yesterday (below). The stock is currently rated a “buy” on the platform; see the full Costco stock overview here.

😱 Fear & Greed Index

🪙 Crypto

🚨Trending on Reddit

  • Google trends as users debate its role in the new US Tech Force initiative, its potential in AI and data collection, and whether Alphabet is undervalued or overpriced, with a mix of bullish and skeptical sentiment.

  • Microsoft trends as Redditors critique its AI tool Copilot compared to ChatGPT and Gemini, along with general disappointment in recent projects, including Edge.

🤫 Insider Trading

Stock

Who bought/sold

Details

Total

Clearfield Inc ($CLFD)

Chairman of the Board

Bought 10,000 shares @ $30.06

$300,600

UIPath Inc ($PATH)

CEO & Chairman

Sold 45,000 shares @ $17.30

$778,437

❓Market Trivia Corner

Which job did Nvidia CEO Jensen Huang NOT have before founding Nvidia?

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🎤️ What you said last time

The answer was 50! Never too late to start investing.

🚚️ Market Movers

  • AT&T scrapped its diversity programs just before the FCC approved its billion-dollar deal to acquire spectrum licenses from UScellular.

  • More job cuts:

    • General Motors plans to permanently lay off 1,145 workers at its Detroit Factory Zero plant, just after raising its 2025 profit forecast to as high as $13 billion.

    • Consulting giant McKinsey will cut thousands of jobs over two years, targeting 10% of its non-client-facing staff amid flat revenue.

🎪 Crowdfunding Showcase

TLH Reckoning is breaking barriers in women’s soccer by creating Tallahassee’s first pre-professional club and academy, giving female athletes a real pathway from youth to pro, where none existed. Founded by Dr. Ashlee Fontes, a proven pioneer with decades of experience in building elite programs, the team has already launched USLW and WPSL squads, made playoffs, sent players to the pros, and earned recognition from the city, including an official TLH Reckoning Day.

With a fan-owned, player-centered model and strategic alliances like Gotham FC, TLH Reckoning is doubling its pre-pro growth while aiming for full pro status, a stadium, and a residential academy. Backed by visionary leadership and a mission-driven approach to equity in women’s sports, the club is raising $63K of its $6.5 million pre-money valuation.

🧠 The Missing (Market) Links

  • Analysts warned the megaplex era was over, with cinema attendance still stuck at just 64% of pre-pandemic levels.

  • Treasury yields dipped on Monday as investors braced for key inflation and jobs data later this week.

  • Euro area industrial production jumped 0.8% in October, with Ireland's output surging a massive 4.0% in a single month.

📜 Quote of the Day

📢 We want to hear from you.

We love hearing from you, and we deeply appreciate your feedback.

That’s all for today. Did we miss anything? Smash the reply button to let me know.

Cheers,
Brandon & Blake of Invested Inc

The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable.

Stocks & Income, AltIndex, Finance Wrapped, The Chain, and Future Funders are all owned by Invested, Inc.

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