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Top Overnight News
The Senate passed legislation on Monday night (vote was 60-40) to end the nation’s longest government shutdown, after a critical splinter group of Democrats joined with Republicans and backed a spending package that omitted the chief concession their party had spent weeks demanding. The measure goes next to the House, which is expected to take it up no sooner than Wednesday. NYT
SoftBank has sold its entire stake in Nvidia for $5.8 billion, as the global tech investor shakes its pockets for cash to plow into its massive bet on OpenAI: WSJ
Obamacare subsidies face an uncertain future as Democrats scramble to find Republican support for an extension before they expire at the end of 2025. BBG
China plans to ease the flow of rare earths and other restricted materials to the U.S. by designing a system that will exclude companies with ties to the U.S. military while fast-tracking export approvals for other firms. WSJ
India’s top refiners haven’t placed any orders for Russian oil for next month, people familiar said, signaling that Western sanctions and trade talks with the US are having a major impact on buying patterns. BBG
Trump said the US is getting “pretty close” to a trade deal with India. BBG
The U.K.’s jobs market continued to creak in the third quarter, making it more likely that the Bank of England will cut borrowing costs in December after it narrowly chose to keep rates on hold last week. UK saw a 20bp M/M uptick in the unemployment rate to 5% (vs. 4.8% in Aug and ahead of the Street’s 4.9% forecast) while wage growth cooled. WSJ
US flight cuts are set to increase even as Congress works to end the shutdown. The FAA has ordered airlines to scale back national operations by 6% today, a number to rise to 10% from Friday. BBG
AI data centers draw political scrutiny as some accuse the infrastructure building boom of driving up electricity prices. WSJ
CoreWeave shares fell premarket (CRWV -10% premkt) after the company cut its forecast due to a data center delay. BBG
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