Morning Brief
Government shutdown begins, gold surges, Nike and Buffett deals
This episode isn’t summarized yet
Create a free account and summarize it. In a few minutes you’ll have the key takeaways and a section-by-section summary.
Show notes
The US government has officially shut down after lawmakers failed to reach a funding deal, furloughing 750,000 workers and risking delays to jobs and inflation data critical for the Fed’s next moves. Markets opened Q4 lower, with futures and the dollar slipping while gold rallies toward $3,900 an ounce. ADP private payrolls fell 32,000, deepening concerns about a weakening labor market as investors now price in an October Fed rate cut with near certainty. Nike (NKE) rose after beating Q1 estimates but warned tariffs could cost $1.5B this year. Occidental Petroleum (OXY) gained after reports that Warren Buffett’s Berkshire Hathaway (BRK-B) is in talks to buy its petrochemical unit for $10B. Lithium Americas (LAC) jumped after the Department of Energy confirmed plans to take a 5% equity stake in the company and its Nevada mining project to boost domestic supply chains.
Takeaways:
US government shutdown begins, delaying jobs and inflation data
Gold nears $3,900 on safe-haven demand; Fed cut bets rise
Nike beats earnings but warns $1.5B tariff hit this year
Buffett’s Berkshire eyes $10B Occidental deal; DOE takes stake in Lithium Americas
Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves.
Thoughts? Questions? Fan mail? Please email us at [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices