Global Markets Grapple with US Shutdown, Oil Slide, and Fed Independence Battle

Government and Economic Impact - The US federal government has entered its second day of a shutdown due to a political deadlock between congressional Democrats and Republicans, affecting federal services and leading to potential layoffs of hundreds of thousands of employees [3][7] - The Chicago Fed Labor Market Indicator for September showed a slight increase to 4.34%, indicating early labor market conditions, with the unemployment rate forecast remaining stable at 4.32% [11] Corporate Developments - Rivian Automotive, Inc. reported third-quarter deliveries of 13,201 vehicles, exceeding estimates, but narrowed its full-year 2025 delivery guidance to 41,500 to 43,500 vehicles, down from 40,000 to 46,000, causing pressure on its shares [5][7] - Kuwait Petroleum Corp. is in discussions with JPMorgan Chase & Co. for a potential pipeline deal valued at up to $7 billion, as part of a larger $65 billion investment plan to boost oil production capacity [10] Commodity Market Trends - Oil prices have declined for four consecutive days, driven by expectations of an OPEC+ supply boost, with Brent crude trading near $65 per barrel and West Texas Intermediate below $62 per barrel [6][7] Geopolitical Developments - A Russian ship was observed near a gas pipeline, highlighting ongoing regional tensions, while diplomatic negotiations are underway for a meeting between Brazil's President Lula da Silva and US President Donald Trump [12]