Axios

The average price of new vehicles is now more than $20,000 above that of used rides, marking an all-time high, according to data released today by car research site Edmunds.

State of play: Used vehicle prices have been falling at a faster pace than new vehicle prices as inventories normalize following pandemic disruption.

• Used vehicle prices are down from their high in the second quarter of 2022, a time when inventories were at rock bottom and used vehicles were briefly increasing in value.

Pennsylvania's state House has passed legislation that would give cryptocurrency an unambiguous green light in the Keystone State, if the Senate concurs.

Why it matters: It's the latest of several states to pass measures that protect the right of its residents to hold cryptocurrency and transact in it.

Context: The legislation passed out of the state's House Commerce Committee on Oct. 9.

• In that same meeting, Rep. Scott Conklin (D), the committee chair, ran two pieces of legislation on cryptocurrency, one bill from each party. Both passed out of committee, but the Democratic-sponsored bill has gone no further, so far.

At the end of 2022, Budapest unveiled a very nice statue in honor of Bitcoin's pseudonymous creator, Satoshi Nakamoto.

💭 Our thought bubble: It was cool.

• But this statue is for sure cooler. Definitely click through so you can see the moving image. It's crucial.

The new tribute to the orange coin's creator is in Lugano, Switzerland, and the artist is longtime Bitcoiner Valentina Picozzi.

Worth your time: More on how Picozzi got into Bitcoin.

Which statue grabs you more, Picozzi's or the one Greenpeace had made?

On Wednesday, the British government will roll out a much-anticipated budget plan. Policymakers in the U.S. and around the world may want to pay extra close attention to how things go.

Why it matters: The U.K. wants to make investments that will jumpstart its stagnant economy. But the heavily indebted nation faces a starkly different backdrop from that of the last decade, with more ominous dynamics around debt levels, interest rates and how bond markets react to profligacy.

Industrial real estate is changing — and so are operators' expectations.

"For many years, industrial real estate customers didn't have high expectations of their landlords," says Sonya Huffman, chief administrative officer at Link Logistics.

Sierra, a builder of custom AI agents for enterprise customer service, raised $175 million led by Greenoaks Capital at a $4.5 billion valuation.

Why it matters: This is the poster child for most AI roads leading back to Google or OpenAI, as Sierra is co-founded by search giant vets Clay Bavor and Bret Taylor (who also chairs OpenAI's board).

Kamala Harris and Donald Trump each have asked voters to consider their economic records. To use the past as prologue.

• But it's impossible to do so impartially, because the COVID-19 pandemic created a stack of financial dominoes that disordered the data.

The Index of Consumer Sentiment has been meaningfully lower since the spring because of a change in survey methodology, finds a new analysis.

Why it matters: One of the most closely watched measures of consumer sentiment — aka the vibes — would seem a little less terrible if not for this change.

In a world where crucial resources — workers, electricity, housing and more — are in short supply, the globe is expected to have an abundance of at least one commodity: oil.

Why it matters: This new reality might keep a lid on consumer energy prices even as geopolitical strife intensifies. It could also wreak havoc on the longstanding economics that underpin oil production.

Robinhood Markets is jumping into election betting.

Why it matters: With over 23 million funded customers, the retail brokerage is offering up wagers on the U.S. presidential election to its massive U.S. network.

Boeing launched a roughly $19 billion share sale today.

The intrigue: The aerospace giant's stock lost around 2.8%, a fairly modest drop given the relative size of the offering (around $14 billion is expected to come from the sale of common shares).

• The company has shed over $63 billion in market value since mid-December — a 40% plunge — giving it a market cap today of $93 billion.

The big picture: The company is looking to shore up its balance sheet as it grapples with an ongoing worker strike that has grounded production of its best-selling planes.

JPMorgan fixed the glitch — and now it wants its money back.

Zoom in: The bank has begun suing customers it says stole thousands of dollars as part of a scheme popularized in a series of viral social media videos over the summer, CNBC reports.

• Catch up quick: The alleged scheme involved people writing large bogus checks, depositing them into Chase accounts, and then people quickly withdrawing enormous amounts of cash before the checks would bounce.

Driving the news: JPMorgan today filed three separate federal lawsuits aimed at getting back their money, per CNBC.

• Though the initial suits target cases involving the biggest dollar amounts, people familiar with the situation tell CNBC that it's likely just the start of a "wave of litigation" from the bank.

By the numbers: In one case filed in Houston, JPMorgan alleges that a masked man deposited a bad $335,000 check at an ATM and then a customer immediately withdrew over $290,000.

Donald Trump has said he wants to "terminate" spending on what he calls the Green New Deal, presumably referencing the Biden administration's signature Inflation Reduction Act, a major climate law.

Why it matters: Pulling back that money would require congressional action — not a given, as the IRA's popularity has grown — and it could result in lost jobs, unfinished factories, and a costly mess for many businesses and states that are counting on those funds.

Top Democrats are confident that a trio of economic reports this week will give them one final shot to convince voters that the economy is much better than they think it is.

Why it matters: Hope has replaced dread inside the Biden-Harris administration when it comes to official data drops.