U.S. stocks loved October’s jobs data, which President Donald Trump described as a “blowout.” They seemed to bolster the Fed’s case that the economy is in reasonable shape. But the global outlook is darkening. China sees little hope for a full trade deal with the U.S., and ports around the world are feeling the pain. Speaker of the House Nancy Pelosi (who said public hearings on Trump’s impeachment will begin this month) declared that the U.S. should align closer with the European Union. Meanwhile, Saudi Crown Prince Mohammed bin Salman finally gave the go-ahead for the initial public offering everyone has been waiting for.

What you’ll want to read this weekend

The Fed’s rate cut seems to be the last for a while, but not everyone is convinced. Did Jerome Powell manage a rare soft landing? One warning though: America’s middle class is hooked on a new kind of debt.

Boris Johnson is betting that voters in December’s U.K. election want to get Brexit over with. His main opposition wants to change the subject and his erstwhile pal Nigel Farage is playing hardball.

Twitter may have upped Facebook on moral grounds in announcing it stopped accepting political ads. But it wasn’t much of a business sacrifice, Shira Ovide writes in Bloomberg Opinion.

The economics editor for Bloomberg Businessweek broke eight bones and punctured his lung in a bike accident. In a nation with an expensive and aggressive medical system, he decided less is more.

Al Gore is opening a new front in the war on climate change. Meanwhile, the fire season rages on in Southern California, and Africa’s largest waterfall is running low.

What you’ll need to know next week

• Beto O’Rourke called it quits.
• Disney reports earnings. Watch for its pushback against Apple TV+.
• Bloomberg holds its annual Year Ahead Summit.
• Roger Stone, the self-described Republican “trickster,” goes on trial.
• The Bank of England is set to announce a gloomy set of forecasts.

What you’ll want to see in Bloomberg Graphics

Tesla Leaves One Hell and Lands in Another

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