Cybertruck production ending next year

Back in today's Dollars and Cents, the jobs report for October was released early this morning. It does show more jobs were added last month than economists predicted. Health care still leading the way for job growth, but some of the other areas seeing more jobs include manufacturing, warehouse jobs and transportation. American Savings Bank brought some aloha to the opening bell this morning. It is based in Honolulu, celebrating 100 years in business and its recent IPO. All right, as we take a live look at the numbers now, a little bit of a pop for the Dow Jones now. It started down a couple hundred points, now up a little bit. The S&P 500 up a full percentage point. The Nasdaq also recovering After huge losses yesterday and the Nasdaq's up almost 400 points as those tech stocks. pretty volatile right now. This morning, Elon Musk announced that Tesla will wind down production of its Cybertruck in Texas. Next year, Musk says the factory will be used to increase production of Tesla's CyberCab Robotaxi. Tesla reports sales for the Cybertruck have been disappointing. Changes in the balance of power in Washington, D.C. created a lot of volatility in the markets. A.I. stocks in particular dropped as Democrats have expressed the need for stricter regulation for A.I. companies, including data centers. This morning, we talked with a local financial advisor who said the blue wave will also likely help and support the clean energy and health care industries. He also says the tech industry is still a place to have some of your money. You need to have some exposure to AI and these tech companies. But at the same token, if you're over leveraged, it's been great for the past five years. But at some point, some of these companies will be flushed out, just like we saw back in the dot com. So some of the companies will continue to do well, and some of them may slow at the growth pace that we've seen over the past few years. He reiterated this is not the AI bubble popping. It is just a slower trajectory of growth. I'm Pam Cook. That's Look at Your Dollars and Cents, and we'll be right back.