00:00Job creation surges in October. I'm Jim Ryan, ABC News. The economy last month churned out
00:05165,000 new positions, about 100,000 more than analyst predictions, with a solid performance
00:11from health care, business services, warehousing, and transportation. The unemployment rate in
00:17October was 4.1%, slightly below the September reading. Well, the wild swings on the stock
00:22market. Amazing numbers as far as hiring. Pete, where do I even begin? He joins us now. That was
00:28quite the swing in the stock market. I feel like when he's talking about the weather and the
00:33movement of the weather. For sure. For sure. How do you explain it? Because it was huge the day after
00:39the election, and then it went tanked the next day. Data centers are part of the deal. What's your
00:44kind of analysis of it? Yeah, it is an incredible thing. And obviously, the midterms were what
00:49everybody was expecting. Well, I shouldn't say what they were expecting, but was going to be
00:53something that was going to be a factor. And the fireworks are there, but the removal of the
00:58election uncertainty that everybody had, that was one of the reasons we had such a great move to
01:03the upside. The Dow was up at all-time highs, 1,600 points, and that was, you know, just absolutely
01:08amazing. And we were looking at the price of oil. It's gone from 101 to 86 in a very short
01:13period of
01:13time. Now it's back up into the 90s again, the low 90s. So those are some of the things that
01:19I think
01:19are sort of the backdrop of everything that we were looking at there. But, you know, volatility had
01:23dropped down, you know, as I said, the WTI is in the 88s, and it got ourselves into a pretty
01:29good
01:30position. But boy, I'll tell you what, after all of the great things that we saw on Wednesday,
01:35I've never seen anything quite like what we were watching on Thursday, with the Dow down 1,800,
01:40NASDAQ down 1,400. And there's a lot of different reasons behind all of that. I think that AI is
01:46certainly something that everybody's been talking about. We continue to talk about that. And,
01:50you know, that means chip stocks. Well, if you're going to start selling some of those because of
01:54the concerns that you've got about what's going on and the slowdown maybe of AI based upon some of
01:59the elections, that's some of what we are looking at right now. The jobs numbers were great this
02:04morning and better than expected for October. Yeah, that was, I don't even know any longer if
02:10that's going to be something I'd call shocking, but it certainly was a big number, much bigger than
02:16expected. So things are sort of moving along pretty well, I would say. I think we're sitting
02:22in a pretty good spot. And I think that there's going to be surprises in the future again, because
02:28I think there's a lot more strength out there than a lot of people are talking about.
