Weekly Market Brief: Musk's trillion-dollar ambition, Expedia, GTA VI, and government shutdown

Market Overview - The week experienced significant market fluctuations, with major indices pushed into the red due to debates over data centers and excessive tech stock valuations [1] - The S&P 500 declined by 1.6%, the Nasdaq Composite fell by 3%, the Dow Jones Industrial Average decreased by 1.2%, and the Russell 2000 was down by 1.9% over the week [7] Gold and Volatility - Gold prices soared, closing above $4000, contributing to a modest gain of 0.3% for the week [2] - The Vix CBOE Volatility Index closed at 19, indicating a 9% increase this week, suggesting relative calm despite market volatility [2] Housing Market Insights - The housing market showed mixed signals, with a decline in house sales but an increase in median prices in 77% of metro areas [3] - Economic uncertainty is leading to a shift in population and jobs towards the southern regions of the U.S., despite rising job cuts [4] Labor Market Trends - Job cuts in the U.S. reached 153,074 in October, marking a 175% increase from the previous year and a 183% increase from the month prior [4] - Major companies such as Amazon, UPS, General Motors, and Target have conducted layoffs, reflecting a broader trend in the labor market [5] Airline Industry Adjustments - Airlines are cutting flights by 10% at 40 airports to manage reduced personnel and alleviate pressure on air traffic controllers [6]