Markets remain steady as Musk targets Netflix and Taylor Swift drops new album in Morning Squawk update

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ago 27 days

Markets remain steady as Musk targets Netflix and Taylor Swift drops new album in Morning Squawk update

Attractive Markets Defy Government Shutdown; Investors Remain Optimistic

As the United States enters the third day of a government shutdown, investors are closely monitoring developments on Capitol Hill. Surprisingly, the political impasse has not deterred the stock market, with major indexes reaching record highs. President Donald Trump has indicated that the shutdown provides a unique opportunity to cut Democratic priorities. Although the typical jobs report from the Bureau of Labor Statistics is unavailable due to the shutdown, economists are examining alternative data to gauge the labor market’s health. The primary indexes, along with the Russell 2000 index, are poised for a positive week despite ongoing political turbulence. In related news, USA Rare Earth shares rose sharply after CEO Barbara Humpton confirmed discussions with the Trump administration.

Elon Musk Criticizes Netflix Over Content

Tesla and SpaceX CEO Elon Musk has publicly criticized Netflix, asking his social media followers to cancel subscriptions for the well-being of children. Musk’s concerns are reportedly linked to conservative backlash against Netflix’s animated show “Dead End: Paranormal Park,” which features a transgender character. The show’s cancellation in 2023 has not quelled the controversy, leading to a 4% decline in Netflix’s shares this week. Netflix has yet to comment on Musk’s remarks.

PerplexityAI Expands Access to AI-Powered Web Browser

PerplexityAI is broadening the availability of its AI-driven web browser, Comet, amid growing competition with rivals such as Google and OpenAI. The company announced that Comet will be freely accessible to users worldwide, expanding beyond its initial offering to Perplexity Max subscribers who paid $200 monthly since July. Perplexity CEO Aravind Srinivas is set to discuss the development on Emegypt’s “Squawk Box.”

Job Market Challenges for College Graduates

New data suggests that a bachelor’s degree may no longer guarantee a white-collar career, posing challenges for recent graduates. A labor research organization warns this trend is transforming the U.S. into “no country for young grads.” This shift may also affect economic metrics used by policymakers to evaluate the labor market. College graduates are facing unexpected career challenges, leading to a very different start to their professional lives than anticipated.

Vinyl Records Escape Tariffs Amid Taylor Swift Album Release

Taylor Swift fans planning a visit to Target to purchase the vinyl edition of her latest album can do so without worrying about increased prices due to tariffs. Vinyl records, CDs, and cassette tapes remain untouched by levies, benefiting from a Cold War-era exemption known as the Berman Amendment to the International Emergency Economic Powers Act. Billboard projects that sales of Swift’s new album, “The Life of a Showgirl,” could surpass 1 million copies in its first week, a significant exemption for her fan base.