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   A glittering debate
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   Plus: October’s data blackout.
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               Monday, November 10, 2025
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               Artem Priakhin/SOPA Images/LightRocket
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               Good morning, Quartz readers! It’s Shannon Carroll with the Daily Brief. Today, investors can’t pick between gold and Bitcoin, Washington can’t find its jobs report, Nvidia can’t find China, and Saudi Arabia found a YouTuber to build a theme park.
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              <span style="font-size:18px;color:#168DD9">
               HERE'S WHAT YOU NEED TO KNOW
               <span class="ql-cursor">
                
               </span>
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             </h2>
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             <div>
              <strong style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
               Grounded by politics.
              </strong>
              <span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
               Flight cancellations quadrupled Friday morning after the FAA began reducing capacity at 40 airports as a result of the shutdown, with Cirium estimating 1,800 flights could be affected
              </span>
              <a data-linktext="as the cuts expand." data-linktype="Normal" style="font-size:16px;color:#168DD9;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
               as the cuts expand.
              </a>
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             <div>
              <strong style="background-color:#FFFFFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;color:#000000;font-size:16px">
               Nvidia’s China forecast remains zero.
              </strong>
              <span style="background-color:#FFFFFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;color:#000000;font-size:16px">
               Jensen Huang reiterated that export rules and Beijing’s stance have erased the company’s business and that any reopening would be a bonus,
              </span>
              <a data-linktext="not a base case." data-linktype="Normal" style="color:#168DD9;text-decoration:none;background-color:#FFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;font-size:16px;" target="_blank">
               not a base case.
              </a>
              <span style="color:#000000;background-color:#FFFFFF;font-family:Helvetica 
Neue,Helvetica,Arial,sans-serif;font-size:16px">
               
              </span>
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              <strong style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
               Tesla gave Musk his $1 trillion yes.
              </strong>
              <span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
               After shareholders locked in his record pay package, he vowed flying cars by 2026, self-driving features that allow texting, humanoid robots “by the million,” and a Tesla chip fab
              </span>
              <a data-linktext="to power it all." data-linktype="Normal" style="font-size:16px;color:#168DD9;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
               to power it all.
              </a>
              <span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
               
              </span>
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20px;line-height:1.5;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:12px;color:#000000;mso-line-height-rule:exactly">
             <div>
              <strong style="background-color:#FFFFFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;color:#000000;font-size:16px">
               America’s homespun weather guide is retiring.
              </strong>
              <span style="background-color:#FFFFFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;color:#000000;font-size:16px">
               The Farmers’ Almanac, first published in 1818, will stop printing after 2026, ending a run 
that outlasted 49 presidents and most
              </span>
              <a data-linktext="modern forecasting tools." data-linktype="Normal" style="background-color:#FFF;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;color:#168DD9;font-size:16px;text-decoration:none;" target="_blank">
               modern forecasting tools.
              </a>
             </div>
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                  SPONSORED
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                 <h2 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:20px;color:#000;">
                  <span style="color:#000000;font-size:24px">
                   Innovation Doesn’t Wait for Full Price
                   <span class="ql-cursor">
                    
                   </span>
                  </span>
                 </h2>
                </td>
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               <tr style="padding-top:10px;padding-bottom:10px">
                <td class="td100" colspan="6" style="padding:10px 20px;line-height:1.5;width:100%;background-color:#F0F0F0;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:12px;color:#000000;mso-line-height-rule:exactly">
                 <div>
                  <span style="font-size:16px;font-family:Arial,Helvetica,sans-serif;color:#000000;background-color:rgba(0,0,0,0)">
                   This Black Friday, the smartest creators aren’t buying gadgets — they’re upgrading their workshops. With 
ELEGOO’s Centauri Carbon and Saturn 4 Ultra 16K printers up to 53% off, you can bring industrial-grade precision to your desk for less than you’d think. The tools that define the next era of design are on sale now — but not for long.
                   <span class="ql-cursor">
                    
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                            <td align="center" bgcolor="#168DD9" style="text-align:center;vertical-align:middle;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-family:Arial,Helvetica,sans-serif;font-size:12px;color:#000000" valign="middle">
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                                <td align="center" bgcolor="#168DD9" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-family:Arial,Helvetica,sans-serif;font-size:12px;color:#000000">
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                                  Claim Your Edge
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                                 <!--[if mso]><a href="https://www.ne16.com/t/9777379/222404108/8291867/2/1009235/?f5d63f87=UXVhcnR6JTIwRGFpbHklMjBCcmllZg&x=108c6970" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; 
border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 18px; font-weight: bold; border: none; display: block; ">Claim Your Edge</a><![endif]-->
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               DIGITAL ALCHEMY
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              <span style="font-size: 16px">
               Wall Street is feeling jumpy again. As stocks limp toward the end of the year and the Fed keeps investors guessing, investors are grabbing onto anything that looks like shelter. Gold is flirting with $4,000 an ounce — a level that makes even central bankers sweat — while Bitcoin just passed $100,000 before 
pulling back. Now, the question is: When things fall apart, should you reach for gold or for Bitcoin? The oldest hedge and the newest one are auditioning for the same role. Both are hot, and both say more about investor anxiety than investor conviction.
              </span>
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              <br/>
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             <div>
              <span style="font-size: 16px">
               The two hedges are moving in opposite directions, a reminder that “safe haven” can mean wildly different things depending on your Wi-Fi connection. Gold’s glint is classic insurance: low correlation, low drama, and no login screen. 
Bitcoin’s appeal is scarcity with swagger, but it still trades like a tech stock. Wall Street, meanwhile, is losing its cool. A Charles Schwab survey found 67% of traders now call the market overvalued and more than half expect stagflation within 18 months. Everyone is bullish, but no one is calm about it.
              </span>
             </div>
             <div>
              <br/>
             </div>
             <div>
              <span style="font-size: 16px">
               For now, the fear trade favors tradition. Gold ETFs pulled in $17 billion in September and another $8.7 billion in October, their best streak in years. Bitcoin funds saw $200 
million in Halloween outflows as traders banked summer gains. “Gold is benefiting from fear,” said Blueprint Finance CEO Nicholas Roberts-Huntley, “while Bitcoin’s just catching its breath.” History says crypto bounces back once gold peaks — but for the moment, the market’s mood ring is made of metal.
              </span>
              <a data-linktext="Quartz’s Brian O’Connell has more on how investors are hedging their hedges." data-linktype="Normal" style="font-size:16px;color:#168DD9;text-decoration:none;" target="_blank">
               Quartz’s Brian O’Connell has more on how investors are hedging their hedges.
              </a>
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               COUNTING ON FAITH
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             <div>
              <span style="font-size: 16px">
               For the second time in as many months, the U.S. woke up on jobs Friday with nothing to argue about. The October jobs report, one that would have captured a crucial month in the labor market, may simply never exist. No
charts, no trendlines, no spin — just the sound of an economy running without its narrator. The Bureau of Labor Statistics is still dark after 38 days of shutdown, its 2,000 staffers furloughed, its spreadsheets trapped in September. A data-driven nation has, for the moment, misplaced its data.
              </span>
             </div>
             <div>
              <br/>
             </div>
             <div>
              <span style="font-size: 16px">
               Private firms are trying to fake the pulse. Payroll processor ADP estimated that employers added 42,000 jobs in October, while Challenger, Gray &amp; Christmas clocked the heaviest corporate 
layoffs since 2003 (more than 153,000 layoffs) — Amazon, Target, Delta, pick your poison. But without the BLS to bless the math, all that analysis feels like a karaoke version of the real thing. Economists can guess, model, and interpolate, but they can’t recover what was never recorded. Wall Street is reading lips while the microphone is unplugged and trying to build GDP from gossip.
              </span>
             </div>
             <div>
              <br/>
             </div>
             <div>
              <span style="font-size: 16px">
               Congress, meanwhile, remains locked in its own math problem. Democrats have rejected 15 short-term 
Republican funding bills that don’t extend Affordable Care Act subsidies, while the FAA has begun cutting flights at more than 40 airports as unpaid air-traffic controllers thin out. White House economic adviser Kevin Hassett admitted the administration has halved its growth forecast to 2% for the quarter, calling the damage “far worse than we expected.” A month into the shutdown, the government isn’t just missing data — it’s missing perspective. And that may prove harder to measure.
              </span>
              <a data-linktext="Quartz’s Joseph Zeballos-Roig has more on the month that Washington forgot to count." data-linktype="Normal" style="font-size:16px;color:#168DD9;text-decoration:none;" target="_blank">
               Quartz’s Joseph Zeballos-Roig has more on the month that Washington forgot to count.
              </a>
             </div>
            </td>
           </tr>
           <tr style="padding-top:10px;padding-bottom:10px">
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                  SPONSORED
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                 <a aria-label="Linked image" style="color:#168DD9;" target="_blank">
                  <img class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Feditor.ne16.com%252Fquartz-prod%252F110725-inventory.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlZGl0b3IubmUxNiIsInRpbWUiOjE3NjI3NzI3MDMuMTc4MDgyNX0:1vIPhn:8hH_fB_JAn4oyke901AlJfcR40S0px0JJhXt_mlK44A" style="width:600px;max-height:400px;vertical-align:middle;border:0;" width="600"/>
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                  <span style="font-size:24px;color:#000000">
                   Black Friday for the Visionary
Few
                   <span class="ql-cursor">
                    
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                 </h2>
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               <tr style="padding-top:10px;padding-bottom:10px">
                <td class="td100" colspan="6" style="padding:10px 20px;line-height:1.5;width:100%;background-color:#F0F0F0;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:12px;color:#000000;mso-line-height-rule:exactly">
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                  <span style="background-color:rgba(0,0,0,0);color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:16px">
                   ELEGOO’s Black Friday event isn’t just another sale — it’s an invitation to lead the next wave of 
innovation. From rapid prototyping to production-ready precision, these 3D printers turn bold ideas into real-world results. The leaders shaping the future are already printing it — are you?
                   <span class="ql-cursor">
                    
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                                  Shop the Future
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                                 <!--[if mso]><a href="https://www.ne16.com/t/9777379/222404108/8291867/3/1009235/?f5d63f87=UXVhcnR6JTIwRGFpbHklMjBCcmllZg&x=c8cc05c4" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; 
border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 18px; font-weight: bold; border: none; display: block; ">Shop the Future</a><![endif]-->
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