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AI Surge Lifts Markets as Investors Shrug Off U.S. Shutdown Fears

  U.S. stock futures climbed Thursday morning, buoyed by a wave of optimism surrounding artificial intelligence that overshadowed concerns about the ongoing government shutdown. The S&P 500 and Nasdaq 100 futures rose 0.3% and 0.5% respectively, with the S&P 500 closing above 6,700 for the first time ever. Driving the rally was OpenAI’s meteoric rise in valuation to $500 billion following a $6.6 billion employee share sale, making it the world’s most valuable startup and surpassing SpaceX. The company also inked major chip supply deals with Samsung and SK Hynix, sparking a global rally in semiconductor stocks. Despite the shutdown halting nonessential government functions and delaying key economic data like the September jobs report, investors remained focused on tech gains and potential Federal Reserve rate cuts. Weak private payroll data and signs of a softening labor market have further fueled expectations for monetary easing. While the Dow Jones futures remained flat...
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Federal Workforce Faces Uncertainty as White House Warns of Imminent Layoffs Amid Prolonged Shutdown

                                              White House says layoffs 'imminent' with no end to shutdown in sight.


As the U.S. government shutdown stretches into its second day with no resolution in sight, the White House has issued a stark warning: layoffs of federal workers are imminent. Press Secretary Karoline Leavitt announced Wednesday that the Office of Management and Budget is actively coordinating with agencies to identify where cuts can be made, signaling a shift from temporary furloughs to permanent job losses.

The shutdown, triggered by a failed Senate vote on a GOP-backed funding bill, has left hundreds of thousands of federal employees in limbo. Vice President JD Vance echoed the urgency, stating that extraordinary measures may be necessary to maintain essential services if the impasse continues.

Russell Vought, Director of the Office of Management and Budget and architect of Project 2025, reportedly told House Republicans that layoffs could begin within “one to two” days. While no specific departments have been named, previous rounds of cuts targeted probationary employees and newly hired staff.

The shutdown has already halted major infrastructure projects and prompted legal challenges from labor unions, who argue that mass firings go beyond the scope of traditional furloughs and may be illegal. With the Senate not scheduled to vote again until Friday, the prospect of a prolonged shutdown—and its economic fallout—looms large.


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