Bloomberg Daybreak: US Edition

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Airlines across the US have started canceling flights scheduled for the coming days, as the longest government shutdown in history upends air travel and leaves thousands of passengers scrambling to firm up plans. With about 700 Friday flights already canceled by the four largest airlines, the world’s busiest aviation market has become a flashpoint in the long-simmering clash between Republicans and Democrats over federal funding as President Trump ramps up pressure to forge a deal. The Republican-led administration has said the reductions are necessary to keep flying safe amid staffing shortages brought on by the shutdown. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated. 2) Tesla Inc. shareholders approved a $1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader. More than 75% of the votes cast were in favor of the unprecedented pay plan, the company said Thursday at its annual meeting. The outcome caps a weekslong campaign by the electric vehicle maker’s board, its CEO and prominent retail investors to build support. The pay agreement clears a path for Musk, the world’s richest person, to become the first-ever trillionaire and expand his stake in Tesla to 25% or more over the next decade. To achieve the full payout, he’ll have to deliver on targets to significantly expand Tesla’s market value, revive its flagging car business and get the fledgling robotaxi and Optimus robotics efforts off the ground. 3) China’s exports unexpectedly contracted in October as global demand failed to offset the deepening slump in shipments to the US, dealing a blow to an economy already slowing amid sluggish consumer spending and investment at home. Exports fell for the first time in eight months, dropping 1.1% from a year earlier, according to official data released Friday. Shipments to all nations except the US rose 3.1%, not enough to compensate for the more than 25% decline to America. Chinese exports have been resilient until now, as other destinations made up for drops in shipments across the Pacific Ocean. Sales abroad had grown every month since February, when activity slowed because of the Lunar New Year holiday. See omnystudio.com/listener for privacy information.

On today's podcast: 1) The US will cut flight capacity by 10% at 40 high-volume markets across the country, though international routes will be spared, to alleviate pressure on air traffic controllers and the aviation system during what is now the longest government shutdown in history. The changes will start Friday, Transportation Secretary Sean Duffy said during a press briefing alongside the leader of the Federal Aviation Administration, Bryan Bedford. The agency plans to release the markets impacted on Thursday. The reductions are expected to be staggered, with US carriers informed Wednesday night that they should plan to cut flight volumes by 4% on Friday and 5% on Saturday, according to people familiar with the matter. 2) The US government shutdown has become the longest in history, and with no sign of a resolution soon its economic toll is deepening. Now in its 37th day, the shutdown has surpassed the previous record set in early 2019 during President Trump’s first term. Every week that passes costs the economy anywhere from $10 billion to $30 billion, based on analysts’ estimates, with several landing in the $15 billion range. Senate Democrats, bolstered by big election wins for their party Tuesday, are doubling down on demands for Republicans to negotiate extending Obamacare premium tax credits, or see the government shutdown drag on. 3) Zohran Mamdani clinched New York City’s mayoral race by campaigning against wealth inequality and promoting affordability. Now, he faces the challenge of delivering on the promises that got him elected while coming to the table with the city’s wealthiest residents, who have an outsized influence on the city’s politics, economy and revenue. At least one early Mamdani appointment shows that he is intent on taking a progressive approach toward business and economics. The mayor-elect has tapped former Federal Trade Commission chair Lina Khan to his transition team, a figure who raised the ire of corporations and dealmakers with her tough stances on antitrust cases. But Mamdani also said on Wednesday that he looks forward to meeting with JPMorgan Chase & Co.’s Jamie Dimon and other business leaders to discuss the city’s future, emphasizing the need for collaboration despite policy differences. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Democrats swept the three major local elections in the US on Tuesday by wider-than-expected margins, giving the beleaguered party a much-needed boost 10 months into President Donald Trump’s second term. In New York, voters elected 34-year-old Zohran Mamdani, a democratic socialist, as mayor after he deployed a social media-savvy campaign and joined up with two progressive icons, Vermont Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez. Mamdani — who will be New York’s first Muslim and South Asian mayor when he takes office Jan. 1 — campaigned on making the global business hub more affordable by using higher taxes on the wealthy to pay for free buses and city-run grocery stores, overcoming many voters’ concerns about his pro-Palestinian views. 2) Abigail Spanberger, a 46-year-old former CIA officer who left the House of Representatives after three terms in January, will be the first female governor in Virginia, a state that’s front-and-center in the battle over the government shutdown and efforts to trim the federal workforce. Likewise in New Jersey, Representative Mikie Sherrill, a former Navy helicopter pilot, won a race in which pocketbook concerns about utility bills, health care and schools were more central than culture war issues or government giveaways. About 6 in 10 voters in Virginia and New Jersey described themselves as “angry” or “dissatisfied” with the current state of the country, according to an exit poll conducted by the Associated Press, compared to just one-third who said they were “enthusiastic” or “satisfied.” Meanwhile, California voters passed a ballot measure that could flip as many as five congressional seats to Democrats from Republicans, handing Governor Gavin Newsom a major political victory in his fight against President Trump. 3) The fate of the majority of President Trump’s tariffs is in the hands of the US Supreme Court after lower courts ruled that they were issued illegally under an emergency law. The tariffs have remained in place to allow the Trump administration to appeal to the highest court, which is scheduled to hear arguments today. The Supreme Court case doesn’t touch upon the duties imposed on certain product categories using different legal foundations. For example, the Trump administration has put in place levies on steel, aluminum, automobiles, copper products and lumber by harnessing Section 232 of the 1962 Trade Expansion Act. Those tariffs depend on Commerce Department investigations that concluded that imports of such products pose a national security risk. See omnystudio.com/listener for privacy information.

Democrats swept the three major local elections in the US on Tuesday by wider-than-expected margins, giving the beleaguered party a much-needed boost 10 months into President Donald Trump’s second term. From New York’s City Hall to Virginia, where Democrats picked up a gubernatorial seat, and out to California, the victories will bolster morale in a party that’s been reeling after failing to win the White House, Senate and House of Representatives just a year ago. In New York, voters elected 34-year-old Zohran Mamdani, a democratic socialist, as mayor after he deployed a social media-savvy campaign and joined up with two progressive icons, Vermont Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez. For reaction and analysis, host Doug Krizner speaks with: - Jeanne Sheehan-Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor - Greg Giroux, Bloomberg Government senior reporter See omnystudio.com/listener for privacy information.

On today's podcast: 1) Zohran Mamdani’s lead heading into the New York City mayoral election has withstood a furious push from Republicans, establishment Democrats and a coalition of Wall Street dealmakers. Aspects of Mamdani’s campaign that some thought would doom his candidacy — his vociferous criticism of Israel’s actions in Gaza, his past calls to defund the police and his refusal to flee from the political label of socialist — haven’t turned off a plurality of New York voters, despite a torrent of campaign spending from some of the city’s wealthiest residents. Instead, the 34-year-old assemblyman’s campaign — with its focus on core economic concerns combined with an online charm offensive and occasional searing barb at his critics — is working well enough that some political observers see a model for future Democratic candidates and races. Nationally, Tuesday’s results could provide a muddled message for Democrats. 2) Governors’ races in Virginia and New Jersey and California’s redistricting ballot measure are among the elections on ballots Tuesday, providing a barometer of voter sentiment ahead of the 2026 midterm elections. While Mamdani’s progressive campaign has given him a lead in New York, the candidates leading the polls in governor’s races in New Jersey and Virginia — Representative Mikie Sherrill and former Representative Abigail Spanberger, respectively — come from the more centrist range of the Democratic spectrum. The race in New Jersey has tightened in the past few weeks between Democratic Representative Mikie Sherrill and Republican Jack Ciattarelli, as voters express dismay over high electricity bills and general affordability issues under the state’s current Democratic governor. Republicans would love to eke out a victory there — even as polls narrowly favor Sherrill — after President Donald Trump endorsed Ciattarelli and called him “100% (PLUS!)” on the MAGA agenda. In Virginia, Democratic Representative Abigail Spanberger looks likely to prevail over the Republican Lieutenant Governor Winsome Earle-Sears. The huge number of federal workers in Northern Virginia, frustrated by the government shutdown and the DOGE cuts, gave Spanberger a built-in constituency. And she’s made sure to talk about issues key to local voters — inflation, schools, health care — rather than solely going with an anti-Trump message. If Democrats lose one of these races, expect even more hand-wringing over the party’s tarnished national brand and its inability to capitalize on Trump’s unpopularity. 3) As the government shutdown enters its 34th day, lawmakers face mounting pressure to reach a resolution. Major US airports are facing staffing shortages leading to ground delays, the distribution of food assistance is up in the air, and more federal workers are missing paychecks as the shutdown is on track to become the longest in history. Senators are increasingly optimistic about finding a path to reopen the government, but any resolution will likely have to wait until after tomorrow’s off-year elections, which could sway either side to move depending on the results. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump sat down with CBS' 60 Minutes - as heard on Bloomberg Radio - for a long-ranging discussion on the government shutdown, tariffs, and border security. Trump says immigration raids “haven’t gone far enough” despite videos showing physical confrontations among federal agents, immigrants and protesters. Trump also said that he could use the Insurrection Act to use professional military, instead of the National Guard, to US cities “if I wanted to.” The president’s comments come after his administration expanded a federal program that deputizes local police to enforce immigration laws, signing up nearly 16,000 officers across 40 states as part of an effort to boost deportations, according to data reviewed by Bloomberg News. 2) President Trump said he would skip attending the Supreme Court hearing this week over the legality of his worldwide tariffs regime. The court is scheduled on Wednesday to hear Trump’s appeal of a lower court’s ruling that many of his “Liberation Day” tariffs exceeded the president’s emergency power to regulate imports. Trump had said he felt an “obligation” to watch in person as the Supreme Court weighed his power to impose tariffs. If he had attended, he would have been the first sitting president in US history to attend oral arguments at the high court. 3) The summit between Chinese President Xi Jinping and President Trump was a breakthrough in bilateral relationship where the Asian giant was treated as an “equal partner” of the US, according to David Daokui Li, a regular policy adviser to Beijing. Speaking to Bloomberg TV on Monday, Li described a sense of enthusiasm among his peers in Beijing following the leaders’ meeting in South Korea last week. The exchange led to a one-year trade truce, although it didn’t address core differences between the world’s two largest economies. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week See omnystudio.com/listener for privacy information.

On today's podcast: 1) The mood in US stock markets has been lifted again by strong earnings from Apple and Amazon to round up the week of mega-cap results. Futures for both the S&P 500 and Nasdaq 100 were higher after both indexes sunk on Thursday. Apple forecast a major surge in sales for the holiday season to provide assurance to investors that the iPhone remains a growth driver, while Amazon’s cloud division notched its best quarterly growth in almost three years. That’s smoothed out the setback in the big tech and AI narrative from the mixed reception to results from Meta Platforms, Microsoft and Alphabet. 2) Nvidia CEO Jensen Huang still hopes to sell chips from the company’s Blackwell lineup to customers in China, though he has no current plans to do so, he told reporters Friday. Blackwell is Nvidia’s latest generation of artificial intelligence semiconductors, figuring prominently as a potential bargaining chip in trade talks between the US and China. Licensing the sale of those products did not figure in the discussion between President Trump and his Chinese counterpart Xi Jinping this week, with the US leader saying Nvidia and the Chinese government will have to keep talking about the $5 trillion company’s access to the Asian nation’s market. 3) President Trump called on Senate Republicans to vote to get rid of the filibuster in the upper chamber, amid a government shutdown that has lasted nearly a month. Because of the filibuster rule in the US Senate, most legislation needs 60 votes to pass. While a majority of lawmakers could revise those rules, both parties have largely resisted doing so to preserve their ability to shape legislation when outside of the majority. During the recent funding showdown, Democrats have refused to support a Republican bill offering stopgap funding unless the GOP agrees to extend healthcare subsidies. See omnystudio.com/listener for privacy information.

Apple's fourth-quarter revenue edged past analysts’ estimates despite a surprise sales decline in China, where it’s been struggling to stage a comeback. Total sales rose 7.9% to $102.5 billion in the period, which ended Sept. 27, the company said in a statement Thursday. That slightly beat the $102.2 billion average estimate. The company benefited from stronger-than-expected services growth, helping offset the China slowdown. The Mac and wearables division also performed better than anticipated. Apple shares gained more than 3% in late trading after the results were released. They had been up 8.4% this year through the close. For more, Bloomberg Businessweek Daily spoke with Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners and Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech. See omnystudio.com/listener for privacy information.

Amazon's cloud unit posted the strongest growth rate in almost three years, reassuring investors concerned that the largest seller of rented computing power was losing ground to rivals. Amazon Web Services posted revenue of $33 billion, an increase of 20% from the prior year and the biggest year-over-year rise since the end of 2022. Analysts, on average, estimated 18% growth. The shares jumped about 10% in extended trading after closing at $222.86 on Thursday. The stock has lagged behind that of its industry peers this year, with investors worrying that the company has yet to benefit enough from its AI products. Microsoft Corp. and Alphabet Inc.’s Google have both generated faster growth in their cloud computing businesses than AWS. For reaction, Bloomberg Businessweek Daily spoke with Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal, Ed Ludlow, host of Bloomberg Tech Ed Ludlow, and Eric Clark, Chief Investment Officer at Accuvest Global Advisors. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump and Chinese President Xi Jinping agreed to extend a tariff truce, roll back export controls and reduce other trade barriers in a landmark summit on Thursday, potentially stabilizing relations between the world’s biggest economies after months of turmoil. In the first sitdown between leaders since Trump’s return to the White House, the pair agreed China would pause sweeping controls on rare-earth magnets in exchange for what Beijing said was a US agreement to roll back an expansion of restrictions on Chinese companies. The US will also halve fentanyl-related tariffs on Chinese goods, while Beijing resumes purchases of soybeans and other agricultural products. The US is also extending a pause on some of its so-called reciprocal tariffs on China “for an additional year,” the Commerce Ministry in Beijing said in a statement, adding that China “will properly resolve issues related to TikTok with the US side.” Trump said he would visit China next April, with Xi planning to head to the US afterward. Despite speculation that Trump might make additional concessions — including the US opening access to Nvidia Corp.’s most advanced Blackwell line or changing its policy toward Taiwan — the president indicated that those issues hadn’t been part of the discussions. Trump and Xi did discuss access to some of the chipmaker’s other products, however, with the US president saying he planned to speak with Nvidia CEO Jensen Huang. 2) The largest technology companies are betting on an AI future powered by gigantic complexes of data centers filled with humming servers. Now that the staggering cost of this push is coming into sharper focus, it’s testing nerves on Wall Street. Three bellwethers from different corners of the technology world – Alphabet Inc., Meta Platforms Inc. and Microsoft Corp. — together racked up some $78 billion in capital expenditures last quarter. That’s up 89% from a year earlier. Most of that cash was destined for data center construction and graphics processing units and other gear to fill them. Each increased their forecasts for future outlays. That was enough to rattle investors conditioned to expect enormous spending. 3) Treasuries fell the most in nearly five months after Federal Reserve Chair Jerome Powell cast doubt on a December interest-rate cut, even as a sagging labor market prompted policymakers to bring down borrowing costs Wednesday. While the central bank delivered a widely expected reduction in the benchmark lending rate to 3.75%-4%, Powell’s hawkish outlook ruffled the $30 trillion US bond market. At his afternoon press conference, Powell said a further reduction in rates at the December meeting “is not a foregone conclusion,” sending yields across tenors up by the most since June. See omnystudio.com/listener for privacy information.

Microsoft Corp. reported a steeper climb in spending than Wall Street expected, fueling anxieties about the high costs of providing AI infrastructure. First-quarter capital expenditures including leases, an indication of data center spending, came in at $34.9 billion, up from $24 billion in the preceding quarter, the company said Wednesday. Microsoft continues “to increase our investments in AI across both capital and talent to meet the massive opportunity ahead,” Chief Executive Officer Satya Nadella said in a statement. Total revenue increased 18% to $77.7 billion in the fiscal first quarter, while profit was $3.72 a share. Analysts on average estimated sales of $75.6 billion and per-share earnings of $3.68. The Azure cloud-computing unit posted a 39% revenue gain in the quarter when adjusting for currency fluctuations, beating the Wall Street estimate of 37%. Investor expectations for Microsoft were high heading into earnings, with all but one analyst tracked by Bloomberg rating the stock a buy. Meta Platforms said it expects total expenses to significantly increase in 2026, and will continue to invest at historic levels in artificial intelligence. The company also reported third-quarter net income of $2.71 billion, which included a one-time, non-cash income tax charge of $15.9 billion due to the implementation of the tax bill signed into law in July, Meta said in the statement. Without the accounting charge, Meta said net income would have increased 19% to $18.6 billion. Looking beyond the third-quarter, the company said it expects a “significant reduction” in US federal cash tax payments for 2025 and years to come due to the new law. Meta reported third-quarter sales of $51.2 billion, which beat analysts’ average estimate of $49.6 billion. For analysis of the tech earnings, Bloomberg Businessweek Daily spoke with Bloomberg Intelligence Senior Technology Analyst Anurag Rana and Ivan Feinseth, Research Director and Chief Investment Officer with Tigress Financial Partners. See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Treasuries extended losses after Federal Reserve Chair Jerome Powell said a December interest-rate cut was not set in stone, even after delivering a widely expected quarter-point reduction to prop up the labor market. The central bank reduced its benchmark lending rate to 3.75%-4% in its second straight cut — though two officials dissented. “A further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it,” Powell said in the opening comments of his press conference. In their post-meeting statement, Fed policymakers on Wednesday repeated their assessment that “job gains have slowed” and said “risks to employment rose in recent months.” See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump said the US has a “special bond” with South Korea as he addressed a meeting of corporate leaders at the Asia-Pacific Economic Cooperation summit on Wednesday in Gyeongju. Trump’s visit to the conference comes as he’s looking to work through a series of outstanding issues in his trade deal with South Korea, and prepares for a high-stakes meeting on Thursday with Chinese President Xi Jinping. Meanwhile, Trump said he expects to lower tariffs the US has imposed on Chinese goods over the fentanyl crisis and speak with China’s Xi Jinping about Nvidia Corp.’s flagship Blackwell artificial intelligence chip, as leaders of the world’s biggest economies seek to ease tensions in a meeting on Thursday. Nvidia shares rallied in premarket trading on Wednesday, putting the stock on track to breach $5 trillion in market capitalization, making the semiconductor giant the first public company in history to hit the milestone. 2) Hurricane Melissa made landfall in Cuba less than a day after it became the strongest recorded storm to strike Jamaica, where it left hundreds of thousands without power and forced hospitals to evacuate. Melissa crossed the coast in eastern Cuba as an “extremely dangerous” storm, the US National Hurricane Center said in a statement at about 3:10 a.m. Eastern Time on Wednesday. As much as 25 inches (63 centimeters) of rain and storm surges up to 12 feet (3.7 meters) above normal are expected. 3) Vice President JD Vance said Tuesday he expects the Trump administration to pay military personnel on Friday, even as the government shutdown shows no end in sight. The administration circumvented Congress and moved about $8 billion in research and development funds to cover the military’s payroll on Oct. 15. But Republicans have cautioned that they could not guarantee paychecks for troops if the shutdown persisted. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump hailed the US’s alliance with Japan, reaffirming ties with a longstanding partner and praising new Prime Minister Sanae Takaichi on her plans to ratchet up defense spending as the pair met in Tokyo. Trump also offered optimism that the two sides had overcome their trade disputes. The pair later signed documents on trade and critical minerals intended to formalize some elements of a trade deal brokered under Takaichi’s predecessor, which includes a nebulous pledge for Japan to fund $550 billion in US projects. But documents from the White House on Tuesday suggested that the agreements remained ill-defined. The trade document simply “noted with satisfaction swift and continued efforts by both countries, and confirmed their strong commitment to implementing” their trade deal. 2) Jamaican officials urged residents to brace for Hurricane Melissa as it tracked toward the island at Category 5 strength, packing intense rains and winds and threatening to cause widespread destruction. The storm’s winds are likely to cause “total structural failure,” the center said. That’s especially true for higher-elevation areas exposed to the brunt of the storm, where wind speeds could register as much as 30% stronger. If it maintains its strength, Melissa would be the first confirmed Category 5 storm — the highest on the Saffir-Simpson scale — to hit Jamaica. 3) The Federal Reserve is expected to deliver a second straight interest-rate cut this week to support a wobbly job market. Any push to extend the easing cycle past October, however, may face renewed opposition from a group of officials who remain anxious over inflation. While the Fed’s dovish faction is, for now, winning the debate and securing lower rates, their rival camp of policymakers worry the cutting will go too far. Fresh data on consumer prices released Friday showed underlying inflation in the US rose in September at its slowest pace in three months. While that reaffirms the Fed’s plan to cut rates next week, the overall flat-lining of progress on cooling prices doesn’t bolster arguments for multiple additional cuts. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets. After two days of talks in Malaysia wrapped up Sunday, a Chinese official said the two sides reached a preliminary consensus on topics including export controls, fentanyl and shipping levies. US Treasury Secretary Scott Bessent, speaking later in an interview with CBS News, said Trump’s threat of 100% tariffs on Chinese goods “is effectively off the table” and he expected the Asian nation to make “substantial” soybean purchases as well as offer a deferral on sweeping rare earth controls. 2) President Trump said he didn’t anticipate meeting with Canada “for a while” as he continued to stew over a TV advertisement by the province of Ontario that criticized his tariff regime. Trump in recent days has said he was increasing the tariff on goods from Canada by 10% over the ad, which features excerpts of former US President Ronald Reagan criticizing tariffs. Ontario Premier Doug Ford had said he would stop airing the ad after the weekend, but Trump has expressed frustration that the Canadian leader didn’t move to immediately pull the commercial, which has aired during US broadcasts of the World Series. 3) As the US government shutdown stumbles toward the one-month mark, the effects of the standoff between Republicans and Democrats are being felt further away from the Capitol, as flights back up and food aid dwindles. US Transportation Secretary Sean Duffy warned that travelers will face more flight delays and cancellations in the coming weeks as the continuing shutdown exacerbates the air-traffic controller staffing crunch. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump is aiming for a quick win in a pivotal Thursday meeting with Chinese counterpart Xi Jinping, even if the outcome falls short of the sweeping deal he’s teased on issues at the heart of the rivalry between the world’s two largest economies. Ahead of the sit-down, the US president said he wants to extend a pause on higher tariffs on Chinese goods in exchange for Xi resuming American soybean purchases, cracking down on fentanyl and backing off restrictions on rare-earth exports — all while maintaining some trade barriers he sees as essential. 2) President Trump said he would immediately halt all trade negotiations with Canada, citing a Canadian advertisement against his signature tariffs plan featuring the voice of former President Ronald Reagan. The ad in question comprises excerpts from an address Reagan gave in 1987 in which he defended the principles of free trade and slammed tariffs as an outdated idea that stifles innovation, drives up prices and hurts US workers. Funded by the government of Ontario, the ad seeks to sow doubt among Republican voters by using one of the party’s most iconic voices. 3) Senate Democrats blocked a Republican measure aimed at paying military troops and some federal workers during the US government shutdown in the latest sign the spending deadlock shows no sign of ending. The vote on Thursday to advance the bill failed on a 54 to 45 vote, with 60 votes needed. Democrats have blocked a temporary spending measure 12 times in the Senate since, arguing that they cannot support it without new healthcare spending attached. Despite the ongoing shutdown, the Bureau of Labor Statistics is set to release the long-delayed September CPI report on Friday at 8:30 a.m. Eastern time. See omnystudio.com/listener for privacy information.

Intel gave an upbeat revenue forecast after personal computer demand grew, boosting optimism about a comeback attempt by the embattled chipmaker. Fourth-quarter sales will be $12.8 billion to $13.8 billion, the company said in a statement Thursday. The midpoint of that range, $13.3 billion, was just below Wall Street’s $13.4 billion average estimate. But some analysts were still including revenue from a unit that Intel just spun off — money that wasn’t part of the company’s forecast. The shares gained about 3% in late trading after closing at $38.16. For instant reaction and analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with Jay Goldberg, Senior Analyst of Semiconductors & Electronics with Seaport Research Partners See omnystudio.com/listener for privacy information.