Daily Rundown

November 7, 2025

Chart of the Day

Number of the Day

70 - Share of eligible Airbnb customers choosing the "Reserve Now, Pay Later" option, which was introduced in August

Quote of the Day

"I remain concerned about high inflation and believe policy should be leaning against it." - Cleveland Fed President Beth Hammack

Thursday's Highlights

Layoff announcements (October) totaled 153,074, up 175.3 percent year-over-year and the most in an October since 2003.

Airbnb hotel room nights (Q3) rose by 9.1 percent year-over-year, led by international markets. North America revenue was up 3.0 percent.

Quick Commentary

Layoff announcements aren't always great leading indicators -they were still trending downward at the outset of the 2007-09 recession, for example- but yesterday's numbers jibe with the other signs of late that the longstanding "low hire, low fire" environment is beginning to break a bit in the direction of an uptick in job losses. The economy continues to look resilient in several respects, but the overall risks are still tilted lower as long as the labor market is trending downward.

Today's Highlights

Consumer sentiment

Consumer credit

Household expectations

Daily Trivia

What CEO voluntarily slashed his base salary to $1 per year in the late 1970s, keeping it at that level until his company paid back more than $1 billion in bailout loans guaranteed by the U.S. government?

(Thursday's Question: What company introduced a five-note "audio trademark" in 1994 as part of its campaign to transition into a consumer-recognized brand? Answer: Intel)