Good Afternoon. On November 12, 1936, the Bay Bridge opened so cars could cross from San Francisco to Oakland. Drivers could now cross the bay by road instead of taking a ferry.

—Rosie, Wyatt, Evan & Conor

In this edition

Supplied by StockTwits. ONEQ tracks the Nasdaq Composite; IEF holds U.S. Treasury bonds; GLD tracks gold. These three references are ETFs.

The read: U.S. stocks clawed back much of their early drop during Thursday’s trading. Nvidia pared its loss, while rival chip stocks rose. Oil prices and U.S. bond yields climbed. The bond market was open again after its Veterans Day break.

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Fewer homes are changing hands, but buying one isn’t getting cheap. U.S. sales of previously owned homes fell 5.5% in October from September, reaching their slowest annual pace since August 2010.

Yet the typical sale price was $416,700, slightly higher than a year earlier. That’s the middle price among homes sold, not a sign that every home became more costly.

The number of unsold homes rose to its highest level in nearly seven years. That gives buyers more properties to compare, rather than having to chase the first listing they see.

But more choice doesn’t solve the monthly payment. High loan rates still limit what many households can afford, even when they find a home they like.

Most October deals began with contracts signed in August or September. They don’t tell us how this week’s lower mortgage rates will affect completed purchases.

Buyers with cash or room in their budgets may have more scope to negotiate. Those who need a smaller monthly bill still face the same hurdle: the price and the loan cost together.

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💼 A small rise in layoff claims

More workers filed new claims for jobless benefits last week. The Labor Department put the total at 200,000 for the week ended November 7, up slightly from the prior week’s revised count. These claims offer a weekly check on layoffs.

The broader trend barely moved: the four-week average was unchanged. One rise doesn’t show a wave of job cuts. And this report counts benefit requests, so it doesn’t tell us how easy it is to land the next job.

🏡 A softer quarter for home staples

Spectrum Brands sells pet supplies, bug spray and small home appliances. Sales fell 2.8% from a year earlier in its fiscal fourth quarter, which ended September 30. The home-and-garden business had a tough quarter as poor weather and stores’ extra stock held back new orders.

Fewer orders from stores don’t always mean shoppers stopped buying. Retailers may first sell what’s already on their shelves. Spectrum expects little or modest sales growth in its new fiscal year, leaving it with limited room for a rebound in demand.

🏠 A little relief on home loans

The average rate on a new 30-year fixed mortgage fell to 7.11% this week, its fourth straight drop. Freddie Mac, which buys home loans from lenders, reported the decline on Thursday. A fixed rate keeps the loan’s interest rate steady over its term.

Lower rates can ease the payment on a new loan, but they don’t cut the home’s price. This is a weekly average for a set type of borrower and loan. Your credit, down payment and lender can change the rate you’re offered.

Yeti sold more gear, but it’s bracing for a tougher holiday season. The maker of coolers, insulated cups and outdoor bags expects cautious shoppers to hold back demand in the fourth quarter.

Its third-quarter sales rose 4% from a year earlier. Sales to stores grew, while sales straight to shoppers fell. Those are different routes to a customer, so a stronger total can hide a weak spot.

Yeti cut its full-year sales growth forecast. That forecast leaves out changes to money set aside for an old product recall. That makes it a different measure from the sales gain above.

The company has been expanding overseas, including its first brand stores in Japan and Korea. But its chief executive still expects pressure on demand in the key holiday quarter.

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Britain’s economy picked up speed in the third quarter. But the lift didn’t reach every industry: services grew while building work shrank.

Output rose 0.7% from July through September, after 0.5% growth in the prior quarter. These figures measure goods and services produced after allowing for price changes. They don’t mean everyone’s pay rose by the same amount.

Services that sell to other businesses drove much of the growth. Construction went the other way, a reminder that the national total can hide a weaker outlook for some jobs and firms.

The Office for National Statistics says this is an early count. More data may change the figures. For now, the split is clear: stronger services, less building work.

🚢 More money for moving the same cargo

Hapag-Lloyd moves goods around the world in shipping containers. In the third quarter, its average shipping rate rose 28% from a year earlier. It moved roughly the same amount of cargo. Higher rates helped cover rising costs, and the German firm raised its annual profit forecast. That doesn’t mean every store will pass those costs on to shoppers.

🇯🇵 Japan’s businesses face higher supply costs

Goods traded between Japanese businesses got pricier in October. The Bank of Japan’s measure of these prices rose 0.7% from September, led in part by fuel and chemicals. These are costs businesses face before goods reach shoppers. The report doesn’t measure checkout prices, so it can’t tell us how much of that rise households will pay.

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🥸 Dad Joke of the Day

Q: Why did the grape stop in the middle of the road?

A: Because it ran out of juice.

📖 Vocab Word of the Day · Loan Estimate

Loan Estimate: A lender’s form showing a mortgage’s estimated interest rate, monthly payment and closing costs. It helps borrowers compare the full cost of loan offers.

In a sentence: A lower rate on a Loan Estimate can come with higher fees.

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