GREAT AGAIN: Stocks Surge on New Jobs Report, Lowest Unemployment in a Generation: “The U.S. adding a robust 263,000 new hires in April while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday. Nonfarm payroll growth beat Wall Street expectations of 190,000 and a 3.8% jobless rate, according to Dow Jones estimates.”

Paul Krugman on Election Night: “If the question is when markets will recover, a first-pass answer is never.”

UPDATE:

ANOTHER UPDATE: From the comments: “Democrats better get moving — they only have a little more than a year to tank the economy.”