Economic Data Release - US September non-farm payroll data release was delayed due to the US government shutdown [1] - The US Bureau of Labor Statistics suspended all operations and economic data releases during the government shutdown [1]

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld, taking you through to that closing bell with a global summit pass simulcast Carol Massar and Tim Stenovec joining us from the radio booth. Welcome to our audiences across all of our bloomberg platforms and Carol Massar everyone, well, almost everyone.You know who you are, but it is green across the screen today. Once again, Carol, with all most of the major indices at record highs. Yeah, absolutely ...

Healthcare Policy & Drug Pricing - Pfizer commits to offering all prescription medications to Medicaid at most favored nation's prices, aiming to significantly reduce Medicaid costs [1] - Pfizer will participate in trumprx.gov, offering discounted treatments for patients not using insurance, but its benefit for insured individuals is questionable [2] - Concerns arise whether trumprx.gov offers something new compared to existing programs like Cost Plus Drugs or direct-to-consumer offerings from pharmaceutical companies [4] - The voluntary nature of the program raises doubts about compliance from other pharmaceutical companies and its long-term viability [5] Vaccine & Public Health - An official is criticized for downplaying the role of vaccines in reducing infectious diseases, particularly polio and rubella [6][7][8] - Experts warn about potential resurgence of eradicated diseases due to misinformation and undermining of vaccine importance [10] - The vast majority of people think vaccines are useful and necessary [12] Government Shutdown Impact on Healthcare - Expiration of Affordable Care Act (ACA) subsidies due to the shutdown could affect 4 million families, potentially doubling their premiums and impacting access to affordable healthcare [13] - Telehealth and in-home care visits, reliant on government funding, are affected by the shutdown [14] - Medicare and Medicaid payment delays to hospitals are expected, potentially leading to staff furloughs and delays in care [15]

Market Overview & Economic Commentary - S&P 500 rose 10% during the 2018 shutdown, suggesting temporary government shutdowns have limited impact on market [2] - Market focus shifting to Q2/Q3 earnings and the AI trade [3] - Anticipation of rate cuts on October 29th and potentially December 10th is expected to fuel market exuberance [4] - Current market conditions are compared to the late 1990s internet bubble, with potential for irrational exuberance [5][6] - Rate cuts may not be necessary given GDP growth of 3% and persistent inflation [10] - The Fed's stance on inflation being "transitory" is questioned, especially with strong GDP growth [10][11] AI Sector Analysis - The AI space is currently perceived as having widespread potential, but is expected to consolidate to a few major players [6] - Circular investments and inflated valuations in AI are reminiscent of the late 1990s tech bubble [7][8] Monetary Policy & Fed Actions - The necessity of rate cuts is questioned, considering current economic indicators [9][10] - The Fed's potential rate cuts are viewed as sweeteners rather than necessities to prevent economic buckling [8] - The Fed's current approach is compared to its "transitory" inflation stance in 2021, despite evidence to the contrary [9][11]

Joining us right now is Gabriella Santos. She is chief market strategist for the Americas at JP Morgan Asset Management. And uh Gabriella, why don't we just start with yesterday's new highs despite the government shutdown. We know that government shutdowns often don't uh affect the markets.In fact, you tend to see the markets trade up. Um but what what is happening. Is this a case where we're looking at this thinking this will be resolved quickly.Thinking it doesn't matter. what you're seeing from spending ...

🇺🇸 UPDATE: Polymarket users predict a 34% chance the US government shutdown will end by Oct. 15 or later. https://t.co/fiM2YwkBzE ...

But let's begin here. The markets and your money higher to begin the month. Happy October, by the way.So, what are some of the key issues to watch as we just kind of slide into the fourth quarter. Kate Morris is here. She is City Wealth's chief investment officer.Kate, it's great to have you on set. We're starting the fourth quarter. Markets have been hot this year.Don't seem to care about a looming government shutdown. Why not. >> Well, because it doesn't tend to last very long, right.We've had like 15 gov ...

We can do things during the shutdown that are irreversible that are bad for them and irreversible by them like cutting vast numbers of people out, cutting things that they like, cutting programs that they like. They're taking a risk by having a shutdown because because of the shutdown, we can do things medically and other ways including benefits. We can cut large numbers of people out. We don't want to do that. But we don't want fraud, waste, and abuse. But they want to have illegal aliens come into our cou ...

Core Insights - Employment in the U.S. private sector declined by 32,000 jobs in September, indicating a faster-than-expected cooling of the job market [2][5] - This decline is the largest since March 2023 and is significantly below the Dow Jones consensus of an increase of 45,000 jobs [2][3] Employment Trends - Job losses were widespread across various industries, with notable declines in leisure and hospitality (19,000 jobs), professional and business services (13,000), transportation and utilities (7,000), and construction (5,000) [3] - Education and health services added 33,000 jobs, but overall job losses overshadowed this gain [3] Data Integrity Concerns - ADP reported a higher-than-normal number of missing or redacted values in the data set received from the Bureau of Labor Statistics, which affected the granularity of the benchmark calculations [4] - The preliminary estimate from the QCEW suggested a record decline of 911,000 jobs over the 12 months ending in March [4] Federal Reserve Implications - The ADP report may be the last jobs data available to the Federal Reserve before its next meeting on October 28, with expectations of the unemployment rate remaining at 4.3% [5] - The Fed has indicated a weakening labor market, with rising unemployment and inflation above the 2% target influencing recent interest rate cuts [6] Consumer Sentiment - Consumer confidence regarding job availability has declined, with only 26.9% of consumers finding jobs to be "plentiful," the lowest since February 2021 [6] - There has been a significant drop in Americans' views of their current financial situation, marking the largest monthly decline since data collection began in 2022 [6]

Government shutdown = @DOGE final mission success. ...