Tonight, Nashville and Chicago are the late breaking airports dealing with delays due to a shortage of controllers. The FAA warning that Philadelphia, Indianapolis, Albuquerque, Dallas, Houston, and Boston could also be affected. All fueling concern that what happened in Burbank could soon spread.Everything in the tower is closed. You have to call the 800 line. With no controllers in the tower, pilots had to call San Diego controllers as delays quickly grew.I wouldn't want to come to work if I'm not getting ...

Welcome back to Market on Close. I'm Sam Bartis on the floor of the New York Stock Exchange and I'm pleased to say I am joined by Peter Tutman who is the senior floor broker at Trademass. Thank you so much for joining me.Peter, what did you make of the day. I mean, we can still claim that it was a record, but it just didn't end like one. >> You know what.Look, I mean, a little bit of red on the screen. You know, look, we've had maybe four days that have been the slightest bit of a shallow selloff, if you'd ...

The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Fed pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates https://t.co/xPPgqPoqrW ...

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Market Trends & Auction Expectations - The market anticipates all auctions to perform well, with a tendency for the street to push yields higher [1] - Current long bond rates present buying opportunities [2] Government Shutdown Impact - Historically, government shutdowns have had minimal impact on markets, averaging 3 to 30 days in duration, as any effects are temporary and borrowed from the future [3] - The speaker believes being in the dark on economic numbers is delaying the inevitable, which is the Fed has to cut rates more [4] Corporate Bond Spreads & Investment Strategy - Corporate bond spreads are currently historically tight, implying high prices [4] - The speaker suggests that investors are likely to lose money in the corporate bond market, regardless of quality, over the next year [6] - The speaker recommends focusing on the highest quality corporate bonds to maintain value, or considering mortgage-backed securities or treasuries as alternatives [6] Mortgage-Backed Securities (MBS) - Low coupon mortgages created during COVID, with rates at 2% to 2.5%, are now at low dollar prices, around $80 [7] - These mortgages are experiencing either no negative convexity or positive convexity due to prepayments, a unique situation [8] Economic Concerns & Rate Cuts - Despite AI and capex spending, the speaker expresses concerns about the overall economy, citing weakness in housing, commercial real estate, wage growth, and employment [9][11] - The speaker believes the Fed is cutting rates because the economy needs it, not as an insurance measure [11] Stock Market Illusion - The speaker views the strong stock market as an illusion, anticipating a realization that AI investments may not yield expected returns [13][14]

Welcome back to Market on Close. I'm Marley Kaitton here in Chicago alongside Sam Bodis at the New York Stock Exchange. We'll close out this Monday with some final thoughts on the session.For me, all eyes are on Tesla for an announcement and a potential market move tomorrow. The electric car maker posted two teaser videos to X today showing the headlights of an unidentifiable vehicle. And then the date 107, which is tomorrow.Rumors are swirling that this could signal the release of a new vehicle. Perhaps th ...

The fourth quarter has kicked off, with plenty of potential catalysts to push the markets in either direction. Amplify ETFs CEO Christian Magoon and Blackrock’s U.S. head of equity ETFs Jay Jacobs sit down with CNBC’s Seema Mody to discuss how investors are managing the government shutdown, uncertainty surrounding the Federal Reserve, geopolitical factors and other volatility. ...

[Music] Concerns are mounting over the US labor market after August jobs report revealed stark weakness with non-farm payrolls rising by just 22,000 far below the anticipated 75,000 and the unemployment rate remaining at 4.3% unchanged from the previous month. This tepid growth could mean a potential stall, raising fears of a recessionary pressures signaled by cooling hiring and rising layoffs, which hit their highest level since 2020. Investors were eyeing September's data for signs of a rebound or a deepe ...

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Economic Overview - The government shutdown has created a lack of official data, leaving the Federal Reserve uncertain about the labor market and economy [1] - Despite this uncertainty, financial markets, particularly the S&P 500, have reached multiple record highs [1] Labor Market Insights - The September ADP employment report indicates a softening labor market, with a loss of 32,000 jobs in September, following a loss of 3,000 in August [4] - This marks the first occurrence of back-to-back job losses in the private sector since the pandemic's initial aftermath in 2020 [4] - The leisure and hospitality sector was notably affected, losing 19,000 jobs, which accounted for over 50% of the total job loss [5] - Job openings increased slightly in August to 7.227 million, surpassing expectations, but the job openings-to-unemployed-workers ratio remains below 1.0 for the second consecutive month [6][7] - Other labor metrics, including hire and quit rates, are trending downward, with the hire rate at its lowest since April 2020 [8] Consumer Confidence - The Conference Board Consumer Confidence Index fell for the second month in a row, dropping 3.2 points to 94.2, below the forecast of 96.0 [9] - This decline reflects worsening views on current job availability and business conditions, although there is some optimism regarding future income [10] Market Performance - The S&P 500 achieved a six-day winning streak, closing the week with a 1.1% gain, while the SPDR S&P 500 ETF Trust also rose by 1.1% [11] - The 10-year Treasury yield ended the week at 4.13%, and the 2-year note finished at 3.58% [11] Federal Reserve Outlook - The CME FedWatch Tool indicates a 95% likelihood of a 25 basis point rate cut at the next Federal Reserve meeting, with additional cuts anticipated in December and 2026 [12] Upcoming Economic Data - The upcoming week will feature key indicators such as trade balance figures and weekly unemployment claims, with the September BLS employment report pending due to the government shutdown [13]