Marketplace Morning Report

<p>How wired into your brain are tech companies? Spotify offers us a clue. The streaming company runs its Spotify Wrapped marketing campaign every December, taking user data and AI to create a personalized year-in-review for every listener — and it's an incredibly effective marketing move that consumers want to be a part of. Also: a preview of the last Fed meeting of the year and a manufacturing CEO's thoughts on tariffs and factory activity.</p>

<p>China's purchase of 1 million tons of U.S. soybeans ends a trade war freeze. And while it's better than nothing, it's still far below typical November numbers. With no confirmation of more big shipments, and cheaper suppliers like Brazil and Argentina ready to fill in, how are U.S. farmers reacting? Plus: What to expect in September's jobs report, how the rise of gambling might change political media, and why tech giants are issuing debt to fuel expansion.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>The White House’s $100,000 fee on new H-1B visa applications is adding extra pressure to health care systems in rural and low-income areas. Historically, the visa has been a critical pipeline for skilled health workers in hard-to-staff settings. Affected hospitals are already feeling the added strain. Also in this episode: A bitcoin downturn won’t just hurt crypto bros, Panera announces an overhaul amid floundering fast-casual sales, and the EV market soldiers on, despite sunsetted tax subsidies and emissions regulations.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>A few big box retailers report earnings soon, including Target, Walmart and Lowe’s. That could give some clarity on the state of the American consumer as we head into the holiday shopping season. Though of course Nvidia, the top-performing tech firm on Wall Street, will be the most exciting earnings call of the week. We’ll explain what all the hype’s about. Also in this episode: the NAR predicts homes sales will jump 14% next year and a former coal mining town pivots to nuclear.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>The latest in President Donald Trump’s trade war waffling? Tariff exemptions aimed at lowering Americans’ grocery bills. Affected products could include supermarket staples, like coffee and bananas from Ecuador, Argentina, El Salvador and Guatemala. In this episode, how long it could take for shoppers and businesses to see lower prices. Plus: Work permit rollbacks fuel a janitorial workforce crunch in Texas, moviegoers shell out for IMAX screenings, and we check in with a Pennsylvania customs broker.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>With the government shutdown officially over, the Bureau of Labor Statistics is back at work after a 43-day hiatus. But all that missed data can’t be recreated — and catching up while understaffed will be difficult. In this episode: What reports will BLS prioritize and what’ll be left behind? Plus: Solar projects rush to finish before a tax credit deadline, Disney stops reporting its streaming subscriber numbers, and businesses strategize for a world without pennies.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>Consumers may have revved up their spending in October, but spending more doesn’t mean getting more — prices are also up this holiday season. In this episode, why most shoppers feel like they're doing less with more. Plus: Auto loan delinquencies rise, mortgage applications heat up during an often-chilly season, and Kai explains the price-earnings ratio of the S&amp;P 500, which is at a decades-high.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>Business owners aren’t too optimistic about the labor market, according to an NFIB survey. About a third are struggling to fill an open position, and around a quarter said labor quality was their most pressing issue. In this episode, we scrape together a picture of today’s labor market, sans government data. Plus: Cities issue bonds at a record pace, we explain the consequences of Trump’s proposal to back 50-year mortgages and one report shows real wage growth has slowed to 2%.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>Despite expectations surrounding President Donald Trump’s tariffs, inflation doesn’t seem to be speeding up — though it’s hard to say for sure without all that reliable federal data. You can thank cooling services inflation (where most consumer spending goes) and a softer labor market, which has reduced some companies’ ability to raise prices. Also in this episode: Corporate earnings look bright and sunny, Visa and Mastercard reach an agreement with merchants over credit card fees, and retailers revive physical holiday catalogs.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>The value of the U.S. dollar has been on the rise after months of decline. Political turmoil abroad has hurt other currencies, while easing rates and resilience at home have helped stabilize the dollar. However, investors are still cautious. Also in this episode: the Bureau of Labor Statistics’ “birth-death” model suggests the economy may be weakening, silver prices surpass a 45-year record, and Delta posts solid Q3 results by catering to the upper class.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>Know how the government shutdown put the kibosh on federal data distribution, like last week’s cancelled September jobs report? Well experts haven’t just had a tough week of interpreting this economy — they’ve had a tough year. In this episode, the Trump administration’s policies have uniquely muddied traditional economic forecasting. Plus: Adjustable-rate mortgages grow in popularity, the food and beverage industry adapts to GLP-1 proliferation, and an American furniture manufacturer discusses Trump’s tariffs.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>The federal government shutdown drags on this week, leaving a labor data vacuum. Private firms are hoping to fill the gap with their own data sets — some are even offering ‘em for free. Unfortunately, that private data is narrower and less comprehensive than typical BLS reports. Also in this episode: The popularity of all-cash home sales, the unique risks and boons AI presents for Indian Country, and the vital role of equipment auctions for small contractors.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>

<p>OpenAI announced it will invest big time in chipmaker AMD, potentially in exchange for a stake in the firm. As AI investment has ramped up, similar deals have become common. Do these partnerships signal a strengthening sector? Or are they a symptom of an AI bubble headed toward a burst? Also in this episode: Regional banks merge under Trump appointees’ relaxed regulatory rule, retailers are optimistic about the upcoming holiday shopping season, and Houston’s housing market experiences knock-on effects of deportation duress.</p><br/><p><em>Every story has an economic angle. Want some in your inbox? </em><em><a href="https://www.marketplace.org/newsletters">Subscribe</a></em><em> to our daily or weekly newsletter.</em></p><br/><p><em>Marketplace is more than a radio show. Check out our original reporting and financial literacy content at </em><em><a href="https://www.marketplace.org/">marketplace.org</a></em><em> — and consider </em><em><a href="https://www.marketplace.org/make-a-smart-investment">making an investment</a></em><em> in our future.</em></p>