And right now we are 2 minutes away from the end of the trading day. Romaine Bostick here with Katie Greipel taking you through to that closing bell with a global simulcast. We're joined now by Carol Massar, Tim Stenovec in the radio booth.Welcome to our audiences across all of our bloomberg platforms. Carol Massar This is the second day in a row we've seen massive outperformance by the Dow Jones Industrial Averages. This will be the most we ever talk about the Dow Jones Industrial Average in days.Well, yes ...

Political Analysis of Government Shutdown - The Democratic leadership responded to their base's anger towards the Trump administration by engaging in a fight, exemplified by the longest government shutdown in history [1] - The shutdown caused significant disruption in government services, impacting ordinary people [2] - Democrats manipulated the politics of the shutdown, while Republicans played the game on a board where defeat was inevitable [4] - Policy-wise, the Democrats seemingly caved, but politically, it was a zero-sum game where Republicans structured the situation to their disadvantage [5][6] - Republicans faced political damage as people experienced astronomical increases in Obamacare premiums, disproportionately concentrated in red states [7] Trump Administration's Actions and Optics - The Trump administration's rhetoric and actions regarding SNAP funding for 42 million Americans appeared "mustache twirlingly evil," leading to court challenges and negative optics [9][10] - Despite potential negative impacts, the hardcore MAGA voter base remains strongly supportive of President Trump [11] - Many people who depend on government support do not believe they do, highlighting a disconnect in understanding [12][13] - Elections are not won by the MAGA base alone; independent voters are crucial, and the shutdown likely looked bad to them [14] Future Political Landscape - The narrative will likely focus on the fact that 40-day shutdowns only happen under Trump [15] - The continuing resolution extends only through mid-January, suggesting the possibility of another shutdown [16] - The Trump administration chose to maximize the inconvenience of the shutdown, indicating a different political strategy [18]

Market Trends & Economic Outlook - The Dow Jones Industrial Average reached a record high, driven by United Health Care and Nike [5] - Treasury yields are slightly lower, with the 10-year yield at 406% and the 2-year at 350% [6] - Gold is rallying, up about 2% at $4,208 per ounce, while oil is slipping, with WTI crude down more than 4% and Brent crude off nearly 4% due to oversupply concerns [6] - The U S economy is described as "just okay" and "squishy," with recession considered remote [10] - Consumer spending is concentrated in the top quintiles of earners, and businesses are in "pause mode" regarding hiring [14] - The economy is increasingly dependent on affluent consumers, artificial intelligence field investment, and asset price gains [15] - Deregulation is anticipated, particularly in financial services [18] Company Performance & Strategy - Vista Energy aims to reach $28 billion in 2028, producing 180,000 barrels of oil per day [37] - Vista Energy exports around 60% of its production today, aiming for 75% in 2028 [43] - Cava experienced a slight step down in spend in the District, Maryland, and Virginia markets due to the government shutdown [55] - Cava intends to continue increasing restaurant openings with at least 16% growth in restaurants in 2026, opening at least 68 to 70 restaurants in 2025 [63] - Inspire Medical Systems sees GLP-1 drugs as an opportunity, as weight loss can make some patients eligible for their device [94] - Inspire Medical Systems is covered by all insurance companies, with over 300 million covered lives in the United States [111] Industry Specifics - OPEC says global oil supply will match demand next year, shifting from earlier projections of a supply deficit [7] - Argentina's shale industry could benefit from deregulation and access to capital markets [38][39] - Tariffs had about a 20 basis point impact on Cava's food, beverage, and packaging costs in the quarter, expected to continue into 2026 [70] - Delta Airlines expects a return to normal during the Thanksgiving holiday after mandated flight cuts [116]

Obviously, uh you are one of five people that the secretary of treasury has on a short list to be the next chairman of the Fed. Um why would you want to be chairman of the Fed right now. You get to work with the president every day and he's not criticizing you at all.Uh no, um are you sure you want that job. And for me, I think that being director of the National Economic Council is my dream job. And if the president asks me to be Fed chair, then I'll of course I'll do it.Uh, but if I've not fed here, don't ...

Demand Forecast - IEA revises its oil demand forecast, projecting a 13% increase by 2050 instead of a plateau [1] - Global oil demand is expected to rise from 100 million barrels per day to 113 million barrels per day by 2050 [2] - Oil prices are projected to hover near $90 per barrel by 2035 [2] Market Implications - The report suggests that fossil fuels still have significant potential [2] - The revised demand scenario indicates a more challenging path to net zero emissions by mid-century [2] - The report serves as a reminder that oil remains relevant in the transition to net zero [3]

We believe the long national nightmare will be over tonight. It was completely and utterly foolish and pointless in the end. As we said all along, I I just want to apologize to any Americans who are out there who still have flight cancellations or delays today.I want to apologize to the many American families who were made to go hungry over the last several weeks. Our troops and other federal employees who are wondering where their next paycheck would come from. We're very optimistic about uh the vote tally ...

Government Shutdown Impact - Federal workers across the country missed paychecks due to the shutdown [1] - Millions of SNAP recipients faced food stability issues [1] Political Dynamics - Senate capitulation and House Republicans/White House actions contributed to the situation [1] - The White House attempted to sue for the ability to deny people access to food [1] Overall Assessment - The current situation is described as "reality" [2]

There's a wide expectation that the Federal Reserve Board might lower again in December. Do you have a view on whether the Fed does lower. It should be 25 basis points or 50 basis points as the President.Or do you have a view on what might be better for the economy. Well, I first want to say that I have high regard for Jay Powell. I've known him for a long time, has had economic conversations with him many, many times during the last administration in this time, too.And, you know, I think at times he and I ...

A lot of Democrats are pretty unhappy about the way this has gone in the Senate. And you're not terribly happy with the way Senator Chuck Schumer has handled things now that the bill is coming into your chamber. Are you a no vote.I'm a no vote because I don't believe we can sit idly by like while 20 million Americans face astronomical spikes in their health care. We have a moral responsibility to make sure people have food assistance, to make sure they have health care. And we're not meeting that moment.But ...

Yeah. And look in that party it's 10:30 p. m.was 9 p. m. , but that party goes to 4 a.m. But look, we've talked about it. There's going to be the deejay is going to stop playing music.Sometimes there could be glass on the dance floor. Maybe cops come to the party, but the party is going to form. These are just white knuckle moments.What I view is this tech bull market is two more years ahead of it in terms of a supercycle of CapEx. Dan, I know you travel, you spend a lot of your time traveling around the wo ...