Good morning, you're tuned in to Markets Desk.
Jeff Bezos is calling the AI boom an industrial bubble, and when the man who built Amazon from a garage says proceed with caution, the market listens. Speaking on Fox News, Bezos acknowledged the difficulty of timing any technology cycle, framing it as a lesson in disciplined thinking over momentum chasing.
Shifting to the labor picture, the latest JOLTS data tells a story of a workforce in motion. Quits jumped sharply, job openings rose to fill those vacated seats, hires accelerated, and layoffs fell. That combination signals workers still feel confident enough to leave voluntarily, which keeps wage pressure alive and gives the Fed little reason to ease its posture quickly.
And on the political front, prediction markets are pricing in a Democratic sweep of both the House and Senate in today's midterm elections. Bettors have moved meaningfully in that direction ahead of polls closing. For investors, the reminder from strategists is straightforward and worth repeating: separate your political preferences from your portfolio decisions, because markets have a long history of confounding partisan assumptions in both directions.
That's the tape. Markets Desk, signing off the floor.
