Business & Markets — November 7, 2026

Long-term unemployment lengthens. October hiring beat expectations, but the average jobless worker’s unemployment spell exceeded 27 weeks — the longest duration outside the pandemic in a decade.

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AI and chip stocks rebound. Chip and AI shares gained Friday after a multi-day selloff erased trillions in market value and pushed the Nasdaq into correction territory. Analysts warn the relief may be temporary.

BBC World attributed part of the earlier selloff to investor concern that Democratic victories in the midterm elections could slow the pace of AI and data center development, a worry that had weighed heavily on technology shares. Buyers returned to the sector Friday, though the recovery followed losses deep enough to drag the Nasdaq into correction territory, and analysts cited by the outlet cautioned the bounce could prove short-lived.

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Tesla to end Cybertruck production. Elon Musk said Tesla will stop building the Cybertruck in 2027, retooling its Texas Gigafactory for the autonomous Cybercab after years of weak sales and recalls.

The decision marks the wind-down of one of Tesla’s most polarizing products, a stainless-steel pickup that drew heavy attention at launch but struggled commercially and was subject to repeated recalls. According to the AP, production will begin winding down next year as the company shifts capacity at Gigafactory Texas toward the Cybercab, a driverless vehicle that now anchors Tesla’s manufacturing plans at the site.

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