The job market surged with 162,000 new hires in August—way above the 65,000 economists predicted—prompting a pleased President Trump to tweet about the surprise numbers. Inflation remains a headache, especially with gas prices climbing and wages lagging behind, squeezing household budgets. Job openings hit 7.27 million, layoffs dropped, but fewer people are quitting, hinting at less job-hopping confidence. Meanwhile, Nvidia’s $13 billion acquisition of Hugging Face signals a big bet on open-source AI amid rising security concerns. For homebuyers, mortgage rates hit a 12-month high at 6.71%, making housing more expensive and possibly deterring buyers. The stock market reacted to the strong jobs report, with some indexes dipping.
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