Shutdown Continues with Senate Vote Expected; US-China Trade "Breakthrough"

On today's podcast: 1) The Senate is expected to hold another vote today on a stopgap spending bill to reopen the government into mid-November. It comes as President Trump threatens to slash jobs. The US government shutdown adds uncertainty for investors seeking signals on the Federal Reserve's monetary-easing path. It will delay Friday's government payroll report, making investors reliant on private data for clues about the economic outlook. 2) Treasury Secretary Scott Bessent predicted a “pretty big breakthrough” in the next round of trade talks with China. China has stopped buying US soybeans, with Beijing using the import ban as a bargaining chip in trade talks with the US. The US and China are set to hold talks before the scheduled November 10 expiration of a truce on the highest tariff levels from earlier this year. 3) Boeing's 777X is slated to fly commercially for the first time in early 2027, a fresh setback to the US planemaker. The delay could result in potentially billions of dollars in accounting charges, with analysts estimating the non-cash accounting charge could run from $2.5 billion to as much as $4 billion. Boeing executives are set to discuss the extent and cost of the latest schedule slip for the jet when Boeing reports earnings on Oct. 29. See omnystudio.com/listener for privacy information.