Marketplace Morning Report
Weekdays during Morning Edition (6:51am and 8:51am)
Marketplace Morning Report is the morning sister program from the award-winning staff of Marketplace. Bringing you the morning business news "for the rest of us" in the time it takes you to drink your first cup of joe, MMR is a great way to start your day.
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In a word: uncertainty. Retail chains like Target are pulling back on hiring temporary workers ahead of this year’s holiday shopping season as tariffs take their toll, consumer sentiment slumps, and little government data leaves them with little guidance. We’ll hear more. But first: there’s a lot riding on Nvidia results, and investors are split on predictions for the Fed’s next rate decision.
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Some 24 million people buy health insurance through the Affordable Care Act marketplace. But subsidies and tax credits that have made these plans more affordable for the past few years are expiring, and the cost of health insurance is likely going to double, on average, for those losing subsidies. How do you plan for that? Plus, a Cloudflare outage took down sites yesterday, and tensions between China and Japan escalated.
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From the BBC World Service: The chief executive of the South Korean firm Hyundai said that the White House phoned him personally to apologize for an immigration raid at a massive battery factory in Georgia in September. More than 300 South Korean workers were detained and later sent back to South Korea, stoking tensions between the two nations. Plus, China has imposed a ban on all imports of Japanese seafood amid a growing dispute between Asia's two biggest economies
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The U.S. Department of Agriculture is starting a second round of aid — about $16 billion — for farmers affected by natural disasters. The aid is aimed at growers of fruits, vegetables, and tree nuts. As for aid from President Donald Trump's tariffs? The government's still busy crunching the numbers. Plus, we'll discuss what direction the U.S. economy is headed and hear how AI can help companies soften the blow from tariffs.
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New York City mayor-elect Zohran Mamdani swept the election on a campaign all about affordability. One pillar of that platform was the idea of city-owned grocery stores. The thinking: Prices at these city-owned stores would be lower because they’d operate in city-owned spaces, so they wouldn’t have to pay rent or property taxes. Other cities have tried this. How'd the experiment go? But first: the world's largest official creditor and rising utility costs.
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From the BBC World Service: The artificial intelligence revolution is firmly underway, with tech giants investing billions in research and battling to secure key assets. It's led to a surging stock market, but also panic about the potential impact on jobs and society. Google is one of the companies investing heavily in the new technology. Today, we check in with CEO Sundar Pichai. Plus, the U.K. plans to ban the resale of event tickets for profit.
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After President Donald Trump and Chinese leader Xi Jinping met in South Korea late last month, some tariffs have been suspended or lowered, and China said it will restart purchases of U.S. soybeans and other agricultural goods. To hear about the mood among Chinese buyers and U.S. exporters, Marketplace's Jennifer Park recently attended a trade show in Shanghai. But first: an ethics violation by a former Fed and the impacts of delayed government data.
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Tomorrow's when we’re supposed to learn more about how imports and exports have been faring from the Bureau of Labor Statistics, though the 43-day government shutdown may still delay that data release. What might those numbers be able to tell us (whenever they do come out) about some of the impacts of the president’s tariffs? Plus, China has a glut of EVs, and that oversupply is starting to spill over into the rest of the world.
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From the BBC World Service: As COP30 in Brazil enters its second week, one of the key agreements protecting the Amazon rainforest is under threat from powerful Brazilian agri-business interests. Currently, a pact bans the sale of soy beans — Brazil’s largest agricultural export — grown on Amazon land deforested after 2008. Then, shares in Japanese retail and travel-related companies fell after China urged citizens not to visit the country over remarks made by Japan's prime minister about Taiwan.
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Even though we haven’t gotten recent economic data because of the government shutdown, there’s still plenty of speculation that the next Fed meeting will be a contentious one. We hear from Diane Swonk, chief economist at KPMG, about how the slowing job market and creeping inflation may force the guardians of interest rates into uncomfortable compromises. Plus, a look at why the Trump administration is lowering some tariffs on imported food items from Latin America. And, a chat with McKinsey’s Michael Chui about how companies are utilizing AI and what that means for the workforce.