The stock market is reacting to a new jobs report from September and Nvidia's latest earnings report. CBS News' Kelly O'Grady reports.

Wall Street

The U.S. Bureau of Labor Statistics released its first jobs report since the government shutdown, revealing that 119,000 jobs were added in September, surpassing expectations, although the unemployment rate edged up to 4.4%. This marks a notable improvement from August, when jobs were lost, but the report is based on September data, with October figures unavailable due to the shutdown.

Meanwhile, Nvidia reported record third-quarter revenue of $57 billion and raised its fourth-quarter estimate to $65 billion, driven by strong demand for AI chips. Despite initial market enthusiasm, concerns remain about a potential AI bubble, as investors weigh whether high valuations are justified by actual profits in the sector.

Stock market reacts to new jobs report data, Nvidia earnings

The first jobs report since the government shutdown is now out. The Bureau of Labor Statistics released the numbers today, and they seem to be better than expected. Employers across the nation added 119,000 jobs in September, but we should note, unemployment rose slightly. CBS News Money Watch correspondent Kelly O'Grady is live at the New York Stock Exchange for us today. Kelly, good to see you again. Let's just look at the report here, because I want to know what you made of it, what stood out to you, and also how that will affect the Federal Reserve once they figure out what to do come next month with the interest rate. Yeah, everyone wanting a lower interest rate is wondering that same thing. So what stood out to me, 4.4% unemployment, it ticked up. It's still within the healthy band, but that is the highest that we've seen since October 2021. So that tells you, we are ticking up there, that's something to watch. 119,000 jobs added, that was significantly more than expected. We were looking at 50,000. It's also a huge turnaround from August where we lost jobs. So that is good. I think where the concern though, is that this is a backward looking report. This is September, it's old data. We're not going to get October. And we also know from the Challenger report, the layoff report, October was the worst month for layoffs in quite some time. So anecdotally, we know that the labor market is weakening. What is the Fed going to do with this? They're going to look at September. They're going to look at the lack of data they have, and likely say, you know, we could wait and see in terms of that next interest rate cut. I was just looking at the odds right now. It's a coin flip. The market is pricing in a 56% chance of a cut. So it's kind of one or the other right now. Oh, all right, Kelly. So we actually talked about this yesterday, the possibility or the concern about an AI bubble, but then the CEO of Nvidia, he is shutting those concerns down after his company's strong quarterly earnings. What can you tell us about Nvidia's latest gains? So, I mean, record revenue in the third quarter, $57 billion. Then they upped their fourth quarter estimate to $65 billion. It was a great report. They said that the demand for their AI chips is off the charts. What does that tell you? AI spending is alive and well. That though is why there is concern about the bubble, because if those companies are spending, spending, spending, they're buying Nvidia chips, amazing for Nvidia, but if they're not making a profit, that's going to be a problem in terms of these really high valuations. That spending does not come to fruition. We saw a huge gain in the market when it opened this morning. I'm looking though, we're now in the red. It was actually almost a thousand point swing, right? Between 900 and a thousand. What that tells you is investors were excited about Nvidia, but there is still this concern of a bubble. They want to make sure that they're putting their money in really value plays versus getting caught up in that AI hype. Yeah, and Kelly, for those watching and thinking to themselves, okay, what are they talking about? AI bubble, what does that mean? And what could that look like? So the AI bubble, essentially go back to the.com where you had all of these companies, these startups, anyone that was doing anything online, you saw investors put so much money into those stocks because there was the hype, the excitement of what could be. But when you have hype with no real fundamentals, with no real profit, that's when you could see a bubble burst. And so you see these sky-high valuations in terms of a stock price or perhaps money raised by that company, but then it ends up going away because the company had hopes, had hope in this case AI, that it was going to really drive their company forward, but then they spent a bunch and then they just didn't turn a profit. So right now we're in that phase of all of these companies doing all these amazing things, hopefully, but then they need to figure out how to make money on that. All right, we shall wait and see. Kelly O'Grady at the New York Stock Exchange for us today. As always, thank you so much.

President Trump approved a 28-point plan to end the Russia-Ukraine war, a senior White House official confirms to CBS News. Ramy Inocencio has the latest.

Washington

Ukraine Invasion

Trump approved 28-point plan to end Russia-Ukraine war

There are reports that the U.S. and Russia have drafted a plan that would end the war in Ukraine, but it proposes that Kyiv give up territory and some weapons.

Kyiv

Ukraine expected to give up land, some arms under U.S. peace plan

All 267 people on board a South Korean passenger ferry that ran aground off the southwestern tip of the Korean peninsula on Wednesday (November 19) have been rescued, in an incident that revived memories of the major ferry disaster in 2014 in which 300 people died.

Mokpo-si

Ferry runs aground off South Korea, crew negligence suspected

On Wednesday, U.S. President Donald Trump signed the bill that forces the Justice Department to release the files from its investigation into the late sex offender Jeffrey Epstein. The bill was passed by the U.S. House and Senate on Tuesday.

Trump signs bill to release Epstein files

U.S. officials are now in Kyiv for the Trump administration's renewed push to end the Russia-Ukraine war. CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan has the details.

U.S. officials in Ukraine to push for renewed peace talks

Harvard University is opening a new inquiry into faculty connections with convicted sex offender Jeffrey Epstein. Cam Srivastava, college administration reporter for The Harvard Crimson, joins CBS News with more.

Cambridge

Harvard announces new probe into faculty ties to Jeffrey Epstein

U.S. President Donald Trump has authorized a plan for the CIA in Venezuela, according to a New York Times report. CBS News' Charlie D'Agata has more details.

Trump authorizes plans for CIA covert operation in Venezuela: report

An Israeli strike on the Ain al-Hilweh Palestinian refugee camp in southern Lebanon killed 13 people and wounded several others, the Lebanese Health Ministry said Wednesday. The Israeli military said it struck Hamas militants who it said were operating in a training compound there.

Beirut

Middle East Conflict

Israeli strike on Palestinian refugee camp in Lebanon kills 13

The Epstein files bill is expected to reach President Donald Trump's desk for his signature on Wednesday (November 19). CBS News' Taurean Small reports.

Trump set to sign bill to release Epstein files

Microsoft and Nvidia plan to invest a combined $15 billion into Anthropic. Bloomberg Intelligence's Mandeep Singh discusses why two of the biggest backers of OpenAI are putting money into its rival.

San Francisco

Microsoft, Nvidia to invest up to $15 billion in Anthropic

Hamas rejects the US-drafted UN resolution for a Gaza ceasefire and international stabilisation force.

New York

UN Security Council vote: Hamas rejects Gaza 'peace resolution'

President Trump welcomed Saudi Crown Prince Mohammed Bin Salman to the White House on Tuesday. The two leaders announced a boost in Saudi Arabia's planned investment in the U.S., from $600 billion to nearly $1 trillion.

Trump, MBS announce boost in Saudi investment to U.S.

President Donald Trump hosted Crown Prince Mohammed bin Salman at the White House on Tuesday, with the Saudi de facto ruler seeking to further rehabilitate his global image after the 2018 killing of U.S.-based journalist Jamal Khashoggi and deepen ties with Washington.

Trump hosts Saudi crown prince for pomp-filled, deal-making visit

The Senate, through the process of unanimous consent, agreed to send the bill to President Trump's desk for his signature without any amendments once it's received from the House.

Senate to send Epstein files bill to Trump's desk for signature

The House has approved a bill that would require the Justice Department to release files related to convicted sex offender Jeffrey Epstein. The bill, which received bipartisan support, now awaits consideration in the Senate.

House passes bill that would force release of Jeffrey Epstein files

Hopes for a strong G20 declaration on climate and debt relief are slim as South Africa readies to host the summit from Saturday (November 22). Global tensions and a boycott by the United States threaten to overshadow the gathering.

Johannesburg

South Africa readies for G20 despite U.S. boycott

At least one person is dead and three others were injured after an attack in the West Bank, Israeli forces said. Meanwhile, the United Nations Security Council backed the U.S. plan for Gaza. CBS News' Ramy Inocencio has the latest.

Jerusalem

Tensions escalate as U.N. Security Council backs Trump's plan for Gaza

U.S. President Donald Trump will host Saudi Crown Prince Mohammed bin Salman at the White House, his first visit since Washington Post journalist Jamal Khashoggi was killed in 2018. The crown prince has denied any involvement.

Saudi Crown Prince Mohammed bin Salman visiting White House

The sale of the fighter jets is one of several major deals between the two countries expected to be announced during the visit.

Trump says he will sell F-35 jets to Saudi Arabia

The U.K. government has proposed a major overhaul of its asylum rules, making it easier to deport people and quadruple the amount of time it takes to become a permanent resident.

London

U.K. introduces tougher laws for asylum seekers

In a blistering opinion, a federal judge in Virginia accused Justice Department prosecutor Lindsay Halligan of misconduct, saying there was a "disturbing pattern of profound investigative missteps."

Virginia

DOJ accused of 'profound investigative missteps' in Comey case

The United Nations Security Council has voted to adopt a U.S. resolution outlining President Trump's peace plan for post-war Gaza. CBS News senior foreign correspondent Holly Williams has the details.

U.N. Security Council adopts U.S. resolution on Gaza plan

The aircraft carrier USS Gerald Ford has arrived in the Caribbean, giving the United States the ability to strike inside Venezuela if President Trump gives the order. The U.S. has also sent thousands of troops to the region.

Trump 'won't rule out' sending troops to Venezuela amid rising tensions

President Trump now says Republicans should vote to release all of the files related to the federal investigation into convicted sex offender Jeffrey Epstein. CBS News' Olivia Rinaldi and Nikole Killion have the latest on what could happen next.

Trump's Epstein files reversal comes amid pressure from allies

Poland's Prime Minister Donald Tusk has called an explosion on a railway line “an unprecedented act of sabotage.” Donald Tusk did not say who he believed had carried out the attack, but a government minister said "foreign intelligence agencies" were responsible.

Warsaw

Railway line blast in Poland ‘unprecedented act of sabotage’

Ukrainian President Zelenskyy signed a landmark deal in Paris on Monday to buy 100 Rafale jets, drones, and air defense systems from France.

Paris

Ukraine signs deal with France for jets, air defense systems

The Federal Aviation Administration ended mandated cuts in domestic flights at 40 major U.S. airports, easing restrictions that had been imposed over air traffic control concerns during the federal shutdown.

FAA ends mandated cuts in domestic U.S. flights

Israeli Prime Minister Benjamin Netanyahu vowed to oppose any attempt to establish a Palestinian state, a day before the UN Security Council will vote on a U.S.-drafted resolution on Gaza that leaves the door open to Palestinian independence.

Tel Aviv-Yafo

Netanyahu insists there can be no Palestinian state ahead of UN vote

A Bangladesh court sentenced ousted Prime Minister Sheikh Hasina to death for crimes against humanity on Monday (November 17), concluding a months-long trial that found her guilty of ordering a deadly crackdown on a student-led uprising last year.

Dhaka

Bangladesh's ousted PM sentenced to death for protest crackdown

President Donald Trump now appears to support the release of all Jeffrey Epstein files as the House of Representatives readies for a vote on the matter. CBS News' Natalie Brand reports.

Breakdown