Wall Street Breakfast Podcast: Senate Vote Triggers Shutdown

Government Shutdown - The U.S. government shutdown officially began after the Senate rejected a short-term spending measure, leading to the suspension of operations for non-essential agencies [2][3] - This marks the first government shutdown since 2018, with potential furloughs affecting approximately 750,000 federal workers daily and delaying key economic reports [3][4] - Historically, government shutdowns last about a week, and markets tend to recover, with the S&P 500 averaging a 13% gain in the year following a shutdown [4] Semiconductor Industry - Taiwan's Vice Premier stated that Taiwan will not agree to produce 50% of its semiconductors in the U.S., clarifying that this was a U.S. proposal and not a commitment from Taiwan [5] - Ongoing discussions regarding U.S. tariffs on Taiwanese goods have made some progress, with a current 20% levy in place [5] Nvidia - Nvidia's market capitalization reached $4.53 trillion, making it the first company to achieve this milestone, with shares closing at $186.58 after a 2.6% increase [6] - The company has seen significant growth, crossing $3 trillion in June 2024 and $4 trillion in July 2025, driven by surging demand for AI chips [6] - Year-to-date, Nvidia's shares have advanced by 39%, and it recently announced a $14.2 billion deal with CoreWeave for AI infrastructure services [7] Market Overview - The S&P 500 recorded its strongest Q3 performance since 2020, while other tech giants have varying market caps, with Apple at $3.78 trillion and Microsoft at $3.85 trillion [7] - The economic calendar includes significant reports and events, such as the ADP Employment Report and a speech by Richmond Federal Reserve Bank President Thomas Barkin [9]