AI Fears Rattle Stocks as OpenAI Pledges to Cover Power Costs

Trump Weighs Renewed Iran Strikes as Oil Disruptions Persist

Bass Concedes to Socialist Raman in Los Angeles Mayor's Race

Cabinet Exit Reports Raise Pressure on Lame-Duck Senate

Netanyahu Rival Gains Majority Support to Lead Israel

AI Fears Rattle Stocks as OpenAI Pledges to Cover Power Costs

U.S. stocks tumbled Thursday, Nov. 5, as market reports linked the sell-off to concerns that Democratic gains in Congress and local opposition to data centers could slow artificial intelligence construction. The Dow fell 3.44%, the S&P 500 dropped about 4.4%, and the Nasdaq lost about 5.5%, leaving the technology-heavy index in correction territory, more than 10% below its October record. Stateline reported that 33 measures restricting data centers had passed or were leading after voters considered 41 measures across 10 states. OpenAI announced the same day that it would cover electricity and grid-infrastructure costs at future campuses it owns and operates, seeking to protect neighboring households from higher utility bills. The company also pledged to publish each site's water and electricity use, but its commitments are voluntary. The buildout's economic importance extends beyond stocks: a December 2025 Federal Reserve staff study projected that data-center investment would add about 0.4 percentage points to U.S. GDP growth in 2026, after subtracting imports and before adjusting for inflation.

CNBC / Yahoo Finance / Stateline / OpenAI / Federal Reserve

Trump Weighs Renewed Iran Strikes as Oil Disruptions Persist

President Donald Trump said Thursday, Nov. 5, that he would decide soon whether to resume major military operations against Iran after meeting with his national security advisers. Axios reported that he was weighing renewed strikes, continued economic pressure or a deal involving significant concessions to Tehran. U.S. Central Command was preparing for a possible resumption of major combat but had received no new order, a U.S. official told Axios. Fox News reported that Trump also said there were no immediate plans to strike Iran. The conflict, which began in late February, has disrupted oil shipments through the Strait of Hormuz. Renewed fighting could threaten American troops and further disrupt energy supplies, with consequences for gasoline prices and the global economy.

Axios / Fox News / Britannica

Bass Concedes to Socialist Raman in Los Angeles Mayor's Race

Los Angeles Mayor Karen Bass conceded to City Councilmember Nithya Raman on Thursday, Nov. 5, promising a smooth transition. Raman led in unofficial returns, with vote counting still underway. An urban planner elected to the council in 2020, Raman ran to Bass's left and was endorsed by the Democratic Socialists of America. Bass, the city's first Black female mayor, faced criticism over her response to the January 2025 Palisades fire and the continuing homelessness crisis. Raman is the first challenger to defeat a sitting Los Angeles mayor since Antonio Villaraigosa ousted James Hahn in 2005, MyNewsLA reported. Raman's victory follows fellow socialist Zohran Mamdani's election in New York last year, putting socialists in position to lead New York and Los Angeles, the two largest cities in the United States.

ABC7 / Fox 11 / MyNewsLA

Cabinet Exit Reports Raise Pressure on Lame-Duck Senate

Reports of possible Cabinet departures could leave President Donald Trump and Senate Republicans racing to confirm replacements before Democrats take control Jan. 3. CBS News, citing unnamed sources, reported that Trump was consulting advisers about replacing Defense Secretary Pete Hegseth; The Independent reported that up to five Cabinet members, including Secretary of State Marco Rubio, could leave. Trump told ABC News he intends to keep Hegseth, while Rubio told The New York Times he plans to serve through the end of Trump's term. Republicans have 58 days from Nov. 6, but the Senate's tentative calendar leaves just two days next week and four additional weeks in session. If several posts open at once, choosing and vetting nominees, conducting committee hearings and securing confirmation votes would create a heavy workload for that brief lame-duck session. A Supreme Court vacancy could add to the workload, but Justice Clarence Thomas, 78, has not announced an imminent retirement and Justice Samuel Alito, 76, has ruled out leaving during the lame-duck period.

CBS News / The Independent / ABC News / Reuters / AP / National Archives / U.S. Senate / Supreme Court

Netanyahu Rival Gains Majority Support to Lead Israel

Israeli President Isaac Herzog said Thursday, Nov. 5, that parties holding 67 of parliament's 120 seats had recommended former military chief Gadi Eisenkot to form the next government, compared with 46 for Prime Minister Benjamin Netanyahu. Herzog postponed assigning the mandate until Sunday, Nov. 8, saying disputes between and within political blocs left the prospects for a governing coalition uncertain. Eisenkot's recommendations include his 48-seat bloc and 19 seats held by Arab-led parties, whose support does not guarantee a coalition agreement. Whoever receives the mandate will have 28 days to form a government, with a possible 14-day extension. Netanyahu, Israel's longest-serving prime minister, has governed for all but about 18 months since 2009, including through the Gaza war that began in October 2023. Democrats' takeover of Congress in the U.S. midterms also raises questions about future American support for Israel, with several winning candidates opposing military aid to the country, Reuters reported.

Times of Israel / Ynet / Al Jazeera / Reuters

NOVEMBER 6, 1492: COLUMBUS’S CREW INTRODUCED TO TOBACCO

Christopher Columbus records in his journal that Arawak Indians introduced his crew to smoking tobacco, marking one of the first documented encounters between Europeans and the practice. When they returned to Spain, one crew member was jailed after frightened onlookers condemned the sight of smoke coming from his mouth and nose as the work of Satan.

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Sources

1. CNBC / Yahoo Finance / Stateline / OpenAI / Federal Reserve
2. Axios / Fox News / Britannica
3. ABC7 / Fox 11 / MyNewsLA
4. CBS News / The Independent / ABC News / Reuters / AP / National Archives / U.S. Senate schedule / U.S. Senate nominations / Supreme Court
5. Times of Israel / Ynet / Al Jazeera / Reuters