Core Points - The U.S. federal government shutdown has exceeded 19 days, impacting various sectors [2] - The National Nuclear Security Administration, part of the Department of Energy, will begin furloughing approximately 1,400 employees starting on the 20th, marking the first such occurrence since the agency's establishment in 2000 [2] - Work related to nuclear weapons assembly will be affected, with facilities entering a safety shutdown mode [2] - If the shutdown continues, operations related to weapon manufacturing and special nuclear material enrichment may cease as early as the 28th [2]

Economic Indicators - The ICHI Composite Economic Index slightly declined this week but remains in the contraction zone, indicating stable economic fundamentals[1] - The Consumer Confidence Index has rebounded, returning to the expansion zone, driven by strong holiday consumption in accommodation, dining, transportation, and cultural tourism[1] - The Investment Confidence Index has slightly increased but is still in the contraction zone, with manufacturing investment supported by structural upgrades and technology innovation[1] Inflation and Prices - In September 2025, the CPI increased by 0.1% month-on-month, driven by seasonal price rises in fresh vegetables, eggs, and fruits, while service prices fell by 0.3% due to holiday effects[2] - Year-on-year, the CPI decreased by 0.3%, with a narrowing decline of 0.1 percentage points from the previous month, primarily due to a 4.4% drop in food prices[2] - The core CPI rose by 1.0% year-on-year, marking the first return to 1% in 19 months, indicating a continued recovery in domestic demand[2] Industrial Prices - The PPI remained flat month-on-month in September but decreased by 2.3% year-on-year, with the decline narrowing by 0.6 percentage points from the previous month[3] - Upstream industry prices stabilized, with notable improvements in coal processing (+3.8%) and black metal smelting (+0.2%) sectors[3] - The year-on-year decline in PPI was mitigated by the advancement of a unified national market and structural support from high-end and green manufacturing developments[3] Global Economic Context - The Federal Reserve is experiencing internal disagreements on the pace of interest rate cuts, with some officials advocating for gradual cuts while others suggest a more aggressive approach[7] - The U.S. government is facing a budget impasse, which could lead to a government shutdown, affecting federal operations and potentially dragging down Q4 economic performance[8]

Core Points - The FAA reported significant flight delays at major airports including Dallas, Chicago, and Newark due to air traffic controller shortages [1] - The government shutdown, now in its 19th day, has exacerbated the situation, with air traffic controllers working without pay and increasing absenteeism [1] - The Senate has failed to pass a temporary funding bill, leading to a depletion of operational funds for the federal government since October 1 [1] Summary by Category Government Shutdown - The U.S. government has been in a shutdown since October 1 due to a failure to agree on a temporary funding bill, primarily over healthcare-related spending issues [1] - The Senate has attempted to pass a funding bill multiple times, with the latest attempt on October 16 also failing [1] Air Traffic Control Impact - The shortage of air traffic controllers has led to increased flight delays across the country, with thousands of flights affected [1] - The absenteeism among air traffic controllers has risen as the shutdown continues, further straining the already limited workforce [1]

Core Points - The U.S. federal government shutdown has entered its second week, with significant implications for various programs [2] - The U.S. Department of Agriculture has announced that if the shutdown continues into November, it will cease funding for the Supplemental Nutrition Assistance Program (SNAP) [2] - Approximately 42 million people rely on SNAP, primarily low-income individuals, disabled persons, and the elderly, who use government-subsidized food vouchers to purchase food [2] - Beneficiaries have expressed concerns about the potential interruption of aid, with some indicating they may resort to extreme measures, such as selling plasma, to support their families [2] - There are calls for bipartisan cooperation in Congress to reach a budget agreement for the upcoming year, rather than continuing political maneuvering [2]

Group 1 - U.S. Defense Secretary Hegseth participated in a flight demonstration at Fallon Naval Air Station, flying in an F/A-18 "Super Hornet" [1][3] - Hegseth's actions were criticized as a waste of resources amid ongoing government shutdown issues in the U.S. [1][3] - The Defense Department promoted the event extensively on social media, referring to the aircraft as the "Top Gun jet" used by Tom Cruise in the movie [3] Group 2 - Critics, including a senior researcher from the Stimson Center, argued that Hegseth should focus on more pressing matters rather than participating in flight demonstrations [3] - Concerns were raised about the current situation in the Caribbean and the potential risks to U.S. military personnel [3]

Core Points - Large-scale protests erupted across the United States on the 18th, expressing dissatisfaction with the current government's policies on legislation, immigration, and healthcare [1] - The protests occurred during the third week of a federal government shutdown due to a budget impasse, affecting public services and federal employees [1] - The protests took place in all 50 states at over 2,600 locations, with expected participation reaching into the millions [1]

Core Points - The U.S. government shutdown has entered its third week due to the Senate's repeated failure to pass a temporary funding bill, affecting nearly a million families and key industries, while shaking market confidence [1][2][4]. Group 1: Economic Impact - The shutdown is estimated to cause economic losses of up to $15 billion per week, with systemic damage becoming increasingly evident [4][9]. - The transportation sector is particularly hard-hit, with over 13,000 air traffic controllers working without pay, leading to significant flight delays and cancellations [10][12]. - The real estate market faces uncertainty due to the interruption of the National Flood Insurance Program and the suspension of various loan approvals, potentially delaying or halting home transactions [12][13]. Group 2: Federal Employees' Struggles - Approximately 700,000 to 750,000 federal employees are on forced leave, while many essential workers are required to work without pay, leading to financial strain and increased anxiety among families [6][7]. - To cope with income disruptions, many federal employees are seeking side jobs, with some taking on multiple roles to make ends meet [7][8]. Group 3: Political Stalemate - The ongoing political deadlock is characterized by extreme polarization, with both parties unwilling to compromise, making a resolution unlikely in the short term [14][15]. - Experts predict that this shutdown could become the longest in U.S. history, as both parties engage in strategic maneuvers to influence voter sentiment ahead of upcoming elections [15][16].

Core Points - The U.S. federal government shutdown has entered its 17th day, leading to significant operational impacts on the federal court system [1] - Starting October 20, the federal court system will begin to reduce "non-essential functions" and place some employees on unpaid leave, marking the first large-scale employee furlough in nearly 30 years due to a government shutdown [1] Summary by Sections - **Federal Court Operations** - Approximately 33,000 employees in the federal judicial system will face unpaid leave, while others will be required to work without pay [1] - The funding necessary to maintain court operations has been exhausted as of October 17 [1] - **Judicial Compensation** - According to the U.S. Constitution, judges' salaries cannot be reduced, so courts will remain open, and judges, including Supreme Court justices, will continue to receive their salaries [1] - Jury compensation will also be temporarily maintained during this period [1] - **Court Administration** - The Administrative Office of the U.S. Courts has indicated that efforts have been made to extend normal operations, but a new phase of shutdown will begin on October 20 [1] - Core personnel, such as trial judges and clerks, will continue to fulfill their constitutional duties, ensuring timely processing of criminal cases [1] - The last payroll for these personnel will be processed by October 24 [1]

Market Overview - US stock market experienced a significant rise, with the VIX fear index steadily declining, indicating improved market sentiment [1][2] - The Dow Jones Industrial Average rose by 238.37 points (0.52%) to close at 46,190.61 points, while the Nasdaq increased by 117.43 points (0.52%) to 22,679.97 points, and the S&P 500 gained 34.94 points (0.53%) to reach 6,664.01 points [3] Banking Sector - Bank stocks rebounded after a decline, as traders believed that recent bad credit events were isolated incidents rather than indicative of a broader crisis [4][5] - Zion Bank saw a significant increase of 5.8%, while the Cboe Volatility Index (VIX) decreased, suggesting reduced market anxiety [6] Boeing and Aviation Industry - Boeing received regulatory approval to increase the production of its 737 Max aircraft to 42 units per month, with ongoing oversight from the FAA to ensure safety [7][8] - The aviation sector showed mixed performance, with Boeing's stock rising by 0.48% while other airlines like American Airlines and Delta Airlines experienced declines [8] Technology Sector - Major US technology stocks mostly saw gains, with Tesla rising over 2%, Apple nearly 2%, and other tech giants like Google and Microsoft also increasing [9][10] Oil Market - Oil prices saw a slight increase on Friday but fell nearly 3% over the week due to concerns about oversupply and geopolitical discussions between Trump and Putin [12][13] Trade Policy - President Trump announced a 25% tariff on imported medium and heavy trucks and parts, effective November 1, along with a 10% tariff on imported buses [14][15]

Core Points - The Trump administration is freezing approximately $11 billion in infrastructure project funding due to the ongoing government shutdown, primarily affecting Democratic-led cities [1] - The U.S. Army Corps of Engineers will halt construction on "low priority" projects in cities such as New York, San Francisco, Boston, and Baltimore [1] - This marks the second round of funding freezes during the shutdown, following previous suspensions of transportation and energy project funding [1] - Analysts suggest that this action is intended to pressure Democrats to resolve the government shutdown that began on October 1 [1]