Shutdown averted, bubble continues

Upcoming Week:

• Tuesday: We’ll get the latest updates on the labor market next week, starting with the August Job Openings and Labor Turnover Survey (JOLTS)

• Thursday: Payroll provider ADP will issue its National Employment Report for September, tracking growth in private sector payrolls

• Friday: A closely watched employment report for September will be released with economists expecting the economy to have added 163,000 jobs last month, slowing slightly from 187,000 in August

Notable Earnings:

• Tuesday: McCormick & Company (MKC), Cal-Maine Foods (CALM), and Novagold Resources (NG)

• Wednesday: RPM International (RPM), Acuity Brands (AYI), & Helen of Troy (HELE)

• Thursday: Constellation Brands (STZ), Lamb Weston Holdings (LW), ConAgra Brands (CAG), & Levi Strauss (LEVI)

• Blue Apron acquired: Wonder Group, the food-delivery startup led by former Walmart (WMT) executive Marc Lore, said it has struck a deal to acquire meal-kit company Blue Apron (APRN); stock surged 130% (Blue Apron)
  

• Shutdown avoided: In a stunning reversal, Speaker Kevin McCarthy pushed through a bill with Democratic votes to temporarily keep the government open (WSJ)
  

• SPARC: The SEC has approved Bill Ackman’s new financing vehicle, dubbed SPARC — a special purpose acquisition rights company – where investors will know what company the financing vehicle would be used to merge with before they have to pledge their investments; says he would combine with X (WSJ)
  

• Nike beats: Nike (NKE) topped Wall Street estimates for first-quarter profit as higher prices of its sneakers and apparel helped offset a hit from waning demand and persistent cost pressures (Reuters)
  

• China shows some signs of stability: China's factory activity expanded for the first time in six months in September, an official survey showed on Saturday, adding to a run of indicators suggesting the world's second-largest economy has begun to bottom out (Reuters)

• United Airlines would save $80 million a year if the average passenger weight falls by 10 pounds (Bloomberg)

• Historical maps probably helped cause World War I (Res Obscura)

• Explore the evolution of beer, from Stone Age sludge to craft brews (Washington Post)

• The tea on Gen Z (Redpoint Ventures)

• For the FDA, cold medicine that doesn’t work is just the tip of the iceberg (NYT)

• 11 assumptions about the future (Matt Smith)

• The Canadian government announces that all "online streaming services that offer podcasts" must formally register with the government to permit regulatory controls (CRTC)

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