Group 1: Government Shutdown Overview - The US government has shut down for the first time in 7 years due to a failure to reach a spending agreement between Republicans and Democrats [1][6] - Democrats are demanding healthcare provisions, including the extension of Affordable Care Act subsidies and a reversal of Medicaid cuts [2] - The shutdown could lead to an economic data blackout, affecting key reports like weekly jobless claims and the September payrolls report [4][33] Group 2: Market Impact - Stock futures and the dollar are declining as traders assess the risks associated with the shutdown, while gold prices are surging, nearing $3,900 an ounce [3][26] - The ADP report indicated an unexpected decline of 32,000 jobs last month, raising expectations for a Federal Reserve rate cut [4][29] - Historically, government shutdowns have not resulted in major sell-offs in the stock market, but this shutdown may be different due to potential job furloughs turning into cuts [5][32] Group 3: Economic Effects - The Congressional Budget Office estimates that about 750,000 federal employees will be furloughed, costing $400 million per day in lost compensation [34] - Essential services will continue during the shutdown, including military and law enforcement, but some services may experience slowdowns [35][36] - The impact on federal benefits like Medicare and Social Security will be minimal, but SNAP benefits could be affected if the shutdown lasts more than 30 days [36][37] Group 4: Company-Specific Updates - Nike reported first-quarter earnings that exceeded estimates, but warned that progress may not be linear due to tariffs expected to cost $1.5 billion [38][39] - Berkshire Hathaway is in talks to acquire Occidental Petroleum's chemical business for around $10 billion, marking its largest deal since 2022 [39] - The US government plans to take a 5% equity stake in Lithium Americas to bolster domestic supply chains for critical minerals [41]

Joining us right now with her take on the markets on this last trading day of September and of the third quarter is Elise Azimba. She is the head of investment strategy at JP Morgan Wealth Management. And Elise, let's talk this through.We're looking at a really strong quarter. I think the S&P was up by better than 7% so far for the quarter. The NASDAQ up by better than 11%.Um, do you think that momentum continues. We do think the momentum is going to continue. I mean, when you think about the macro backdrop ...

Investment Recommendation - The Bonsson Group suggests investors allocate capital to dividend-paying stocks, anticipating benefits from a Federal Reserve rate-cutting cycle [1] - Mullison Company is highlighted as a pure-play investment bank expected to profit from future mergers and acquisitions [2] - Mullison Company's dividend yield is above 350 basis points (35%) [2] - Mullison Company's valuation is considered attractive despite trading at approximately 25 times forward earnings [2]