The survey’s so-called labor-market differential, which measures the gap between the percentage of consumers who say jobs as “plentiful” and the percentage who say jobs are “hard to get” rose to 9.4 in October from 8.7 in the prior month.

Economists say AI spending has kept the economy out of recession. When it slows, the effects could be widespread.

Evercore analyst Julian Emanuel has outlined a base-case scenario in which the S&P 500 reaches 7,750 in 2026, which implies nearly 13% upside from its current level of 6,875. But he says the stock market could do something extraordinary next year under the right conditions.

At Invest, an influential lineup of leaders across business, politics, and finance will convene to discuss what's next in markets, AI, crypto, and more.

Several major companies announced layoffs in recent days in a high-profile development that comes with major concerns about the strength of the labor market.

The Fed's market-driven policies have fueled S&P 500 growth and economic stability. Click here to find out what future changes may mean.