Marketplace Morning Report

On today’s show, economist Julia Coronado, president of MacroPolicy Perspectives, explains which metrics she’s using to guide her thinking about the election: individual campaign contributions. Right now, it’s favoring Democrats. We’ll hear more. Plus, we’ll draw a line between the election and this morning’s bond market. And later: a tax jackpot for savers ages 60 to 63 and an estimate of the costs for damages caused by flooding in Spain.

From the BBC World Service: More than 200 people were killed in the floods in Valencia, Spain — the worst in the country for decades. Now, authorities are facing the massive task of reconstructing key roads and tunnels that have been left in ruins. We’ll hear some of the “incalculable” economic impacts. Then, added sugars in packaged baby foods in the Philippines are raising flags for nutritional health experts.

Yes, tomorrow is Election Day, the outcomes of which have the potential to move markets. But don’t forget: We have a Federal Reserve meeting this week too. On Thursday, the central bank will announce a decision on interest rates. We’ll preview what to expect. Then, is it just us or are Black Friday deals starting earlier this year? And we’ll also head to rural Wyoming to hear about the tangible impact of news consolidation.

Today’s jobs report featured a shockingly small number of new hires with just around 12,000 jobs added. However, as FHN Financial’s Christopher Low explains, these dismal figures have more to do with recent extreme weather events and the ongoing strike at Boeing. Plus, we look at why a tax provision expanding the amount of money very rich people are allowed to pass on after death is expiring — and why most people shouldn’t be concerned about it. And, the BBC’s Mariko Oi highlights the global success of Hello Kitty on the beloved character’s 50th anniversary.

It hasn’t been a normal housing market for years now, but it’s been especially uncertain in the past few months. We delve into how interest rate cuts, mortgage rate fluctuations, and the election are all making conditions for buying a home a bit hard to read for most people. Plus, a preview of today’s highly anticipated jobs report which might reflect recent headlines more than it does the overall health of the economy. And, why prices at the pump are poised to dip below $3 on average nationwide despite global trends that would suggest otherwise.

From the BBC World Service: A ban on Google’s flagship Pixel smartphone in Indonesia comes because the company failed to meet requirements for certain smartphones sold domestically to contain at least 40% of parts manufactured locally. Plus, Hello Kitty turns 50, and the landmark birthday also marks an uptick in the fortunes of Sanrio, the company behind the character.

This morning, the central bank’s preferred measure of inflation — the personal consumption expenditures price index, or PCE — came out and clocked in at 2.1% annually in September. With fuel and energy prices stripped out, the index was up 2.7%. What should we make of these figures? Then, if former President Donald Trump is re-elected, he’s promising steep tariffs on goods entering the U.S. We’ll explore the knock-on effects.

For some, spooky season means buying truckloads of candy or dusting off that 12-foot plastic skeleton in the basement. For others though, it’s time to get to work. This Halloween, we’ll check in with Star Romano, a stage production manager at the Queen Mary’s Dark Harbor in Long Beach, California, to hear more about the scare economy. Take a listen … if you dare. Also: unpacking Big Tech’s earnings and spending on AI.

From the BBC World Service: In the United Kingdom, the government has unveiled its first budget since the Labour Party got back in power, its first in 14 years. The measures amount to a $50 billion tax hike to fund public services, with a big focus on taxing businesses and high earners. We’ll hear more. Plus, Donald Trump is proposing tariffs of up to 20% for all goods entering the U.S. What sort of impact would that have?

The private payroll company ADP reported that a lot more people than expected were added to its payrolls this month. True, the more closely watched data on hiring and unemployment is not due from the government until Friday. But this is new evidence that the American jobs machine is still putting people to work. We dig in. Plus, a look at Google’s strong earnings and the continually daunting car market.

Philadelphia’s district attorney sued billionaire Elon Musk earlier this week over a controversial $1 million-a-day giveaway to registered voters, alleging that it is an “unlawful lottery.” Musk is conducting this through his pro-Donald Trump political action committee, called America PAC. On today’s program: a look at where Elon Musk and his super PAC’s “sweepstakes” fit into campaign finance rules. But first, what are experts anticipating from September’s PCE inflation report?

From the BBC World Service: First, it’s the “worst of times” camp. While Germany’s economy grew unexpectedly, German-based car company Volkswagen announced major layoffs and plant closures. We’ll discuss some of the reasons and the fallout. Then, it’s the “best of times” for Spain’s economy, which exceeded expectations with 0.8% growth. We’ll walk through the reasons why, and hear why these macroeconomic gains might not be felt by everyday Spaniards.

The online trading platform Robinhood has started allowing its customers to bet on who will the the election. While its not the first to do so, it is among the first in the U.S. to jump into a new kind of financial instrument called “event contracts.” But it’s not without controversy. We’ll explain. Plus, home price increases appear to be slowing, and companies aim to make some green off of matcha’s popularity.

The New York Stock Exchange has announced plans to extend after-hours trading. Pending regulators’ approval, its electronic platform could be accessible 22 hours a day Monday through Friday, as it looks to compete with online trading platforms like Robinhood. Then: some profanity-laden remarks from JPMorgan Chase CEO Jamie Dimon over federal regulation. Plus, data shows the U.S. economy is king of the hill, top of the heap, a No. 1. Why doesn’t it always feel that way?

From the BBC World Service: In the Eastern European country of Georgia, thousands of people have been protesting outside of parliament in Tbilisi, saying the ruling Georgian Dream party stole the country’s election over the weekend. Now, there will be a partial recount. We’ll also unpack some major restructuring at HSBC. Plus, as mega-corporations cash in on matcha’s popularity, are some green tea sellers putting quantity before quality?

With election day just about a week away, the economy and its overall health are on the ballot in all but name. We check in with Julia Coronado, founder of MacroPolicy Perspectives, about how the labor market is looking amid shocks like hurricanes that have wracked the South. Plus, a glimpse at why childcare costs are so high across the country. And, the BBC’s Lisa Louis reports on a massive project that promises to link the Baltic countries of Lithuania, Latvia, and Estonia by rail.

Movie studies have always been associated with Hollywood and sunny Southern California, but high costs have driven many companies eastward to states like New York and Georgia in recent years in search of lower costs for filming. A look at the Golden State’s recent moves, including a tax credit just passed in an attempt to revive the state’s marquee industry. Plus, why Texas’s abortion restrictions risk causing a marked decrease in OB-GYNs willing to work in the state. And, we chat with Sara Taylor, president of the consulting firm deepSee, about incivility in the workplace in a time of tense election-year politics.

From the BBC World Service: The Japanese yen sunk to a three-month low as investors reacted to the loss of a parliamentary majority for Japan’s ruling coalition in weekend elections. A look at how investors are thinking of the shock results, including speculation that the political uncertainty would slow interest rate rises. New research by the World Meteorological Organisation says concentrations of greenhouse gases in the atmosphere are accumulating faster than at any time in human history. The Baltic countries of Estonia, Latvia, and Lithuania are building what they call the project of a century: Rail Baltica, which will aim to connect the region by high-speed rail.

Bettors think they’ve already figured out the presidential election winner, with many odds sites predicting a slim victory for former President Trump less than two weeks away from Voting Day. But according to FHN Financial’s Christopher Low, there are plenty of reasons to be skeptical of any predictions in such a tight election, including betting markets’ own recent track record. Plus, we take a trip to a factory in Texas that’s giving a second life to batteries used in EVs. And, one Scottish manufacturer is reusing onion skins in their packaging to reduce plastic waste.

Employees are overwhelmingly in favor of upskilling in areas we call “human skills”, which include things like leadership, communication, and adaptability, according to a recent survey. However, more than one in three workers say their jobs offer little to no opportunity to improve these skill sets. We look at what’s behind the gap. Plus, airline customers may find themselves bracing for higher ticket prices as companies report high demand for seats and less supply. And, we hear from one of the winners of this year’s Nobel Prize in Economics about why China’s economic model has succeeded thus far — and why it might face challenges in the future.