Hey friends - hope you all have a fantastic Thanksgiving! Enjoy the time with family. Eat too much. Take a nap. Embrace it. I will be doing all of these things.

Scoops app users: We have taken the beta app offline for a short period for some major updates. Can’t wait to show you all what we’ve been working on! Reach out if you have any questions.

We’re going to switch up the content in this spotlight for a bit to make sure you all have the info you need to master your week.

🌎 The Big Picture

Still catching up on the wild ride of the past couple of weeks?

The market continued its rebound on Wednesday, providing four straight days of green after a lot of red. The main two drivers of the market this year have been the excitement around the potential for AI and the expectation that the Federal Reserve will continue easing up its restrictive economic policies and lower borrowing costs to stimulate business. For much of November, investors started to doubt whether the money pouring into AI was a profitable use of capital and whether the Fed would keep cutting rates with so much uncertainty around inflation and the data.

Over the past week, big tech giants like Nvidia and Google have calmed nerves about an AI bubble with innovative releases and big profits.

And recent economic data and comments from Fed members have inspired more confidence that the Fed will continue cutting interest rates at its next meeting.

Markets will be closed today for Thanksgiving, and then open again for a partial day on Friday to close the month.

Employers are hanging onto their workers, but they're not looking to hire much. Layoffs fell to a 7-month low last week. According to the Labor Department, initial unemployment claims decreased to 216,000 for the week ending November 22, a figure in line with pre-crisis averages for a healthy economy.

However, about 1.96 million people are claiming unemployment benefits for consecutive weeks, suggesting more people are having trouble finding new jobs after being laid off. The separate September jobs report, delayed due to the government shutdown, showed the unemployment rate hit a 31-month high in September. It has been taking job seekers a median of about 10 weeks to find new roles. For workers, this means job security remains relatively strong, but job seekers can expect longer search times. Business owners have the upper hand.

Home values are trending lower, giving more hope for potential home buyers. According to Zillow, more than half of all US homes have seen their estimated value drop compared to a year ago, a trend not seen since the aftermath of the 2012 housing crash. The devaluation is happening most sharply in Western and Southern cities like Denver, Austin, and Phoenix, with more than 85% of homes losing value there. Nationally, though, only 4.1% of homes are now worth less than the last time they sold.

Luckily, it's not translating to any real losses for homeowners. Most current owners have either no mortgage or have locked in a rate much cheaper than current borrowing costs. So, people don't face any pressure to sell, and even if they did, most people bought their homes long enough ago that they’re still up by roughly two-thirds compared to what they paid. Just 3.4% of new listings are below the previous sales price, showing that few owners are being forced to sell at a loss.

Homeowners remain in a relatively strong position to cash in on their profits, and potential buyers may soon see more affordable opportunities to get their first home.

Overall, the economy isn’t stellar (outside of AI), but it’s still chugging along. Get ready for big discounts this holiday season.

Get the full breakdown of all the trends affecting your home, wallet, and career in the new Weekend Scoop on the Scoops app!

🏭 The Companies Everyone’s Talking About

Dig into more scoops and vote on company approval ratings in the Scoops app!

❔ The Big Question of the Week

Challenge your perspectives and learn from the community voting on the Scoops app!