Stock Market Newsยท2025-10-03 19:08Government and Economic Impact - The U.S. government shutdown is set to extend into next week after the Senate failed to advance both Democratic and Republican funding bills, leaving approximately 750,000 federal workers furloughed [2][9] - The ongoing shutdown marks the third under President Trump's administration, stemming from a deadlock over healthcare provisions and spending cuts [2] Energy Sector - A significant fire at Chevron's El Segundo Refinery (CVX) in California has been contained, but analysts predict a potential 35 to 95 cent per gallon increase in California gasoline prices due to concerns over regional fuel supply [3][9] - The El Segundo refinery processes around 300,000 barrels of crude oil per day and is critical for supplying Southern California's motor vehicle and jet fuels [3] Corporate Developments - 3M (MMM) is reportedly exploring a multibillion-dollar carve-out of its industrials arm, indicating a strategic review within the company [5][9] - Meta (META) and Pembina Pipeline Corp. are nearing an agreement to develop a massive AI data center in Alberta, Canada, supporting Alberta's goal to attract $100 billion in AI data center infrastructure over the next five years [5][9] International Affairs - The International Atomic Energy Agency (IAEA) is engaged in discussions with Russia and Ukraine to restore off-site power to the Zaporizhzhia Nuclear Power Plant (ZNPP), which has been relying on emergency generators for over a week [4][9]