Shutdown deadline, tariffs expand, Spotify CEO exits

US stocks edge lower on the final trading day of Q3, with the S&P 500 (^GSPC) heading for its best September since 2010. According to Washington watchers, investors brace for a potential government shutdown as talks stall in Congress, with odds now above 90%. A shutdown would delay key economic data, furlough hundreds of thousands of workers, and risk disrupting the Fed’s October meeting. President Trump announced new tariffs: 10% on lumber and timber, plus 25% on wood furniture, set to take effect on October 14. Sector-specific levies on pharmaceuticals and semitrucks are also in the pipeline. Spotify (SPOT) fell after CEO Daniel Ek said he would step down and move to chairman, while two longtime executives would take over as co-CEOs. ExxonMobil (XOM) is cutting 2,000 jobs, about 3% of its workforce, as part of a global restructuring. CoreWeave expanded its business beyond Microsoft with a $14.2B AI infrastructure deal with Meta (META). Takeaways: Government shutdown odds top 90%; key data, Fed decision at risk Trump tariffs expand to lumber, timber, and furniture imports Spotify CEO Daniel Ek steps down; co-CEOs appointed Exxon cuts 2,000 jobs; CoreWeave inks $14.2B deal with Meta 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