✋ Trump says it's a shutdown

Good morning investors! Stocks closed higher as investors moved past worries of a potential U.S. government shutdown and logged an unusually strong September.

Today we cover:

📊 Economy and News

The U.S. is on the brink of its 15th government shutdown since 1981, with President Trump warning Democrats of "irreversible" actions, such as cutting programs they support, if funding lapses at midnight.

The FAA plans to furlough 11,000 employees, though air traffic controllers will continue working without pay.

U.S. Customs and Border Protection tariff collections and FEMA disaster payments will persist. A $1.7 trillion budget dispute, part of the $7 trillion total government budget, is at the core of the standoff. Also, the U.S. dollar softened against most currencies except the yen.

Democrats push for extended health benefits, while Republicans insist on addressing this separately. A prolonged shutdown could disrupt Medicare reimbursements, public housing subsidies, and economic reports, with broader impacts depending on duration.

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📈 Stocks

S&P 500 6,688.46 (+0.41%)
DJIA 46,397.89 (+0.18%)
NASDAQ 22,660.01 (+0.30%)
BRENT CRUDE 68.63 (-0.78%)
* Prices as of Oct 1st, 12:20 AM UTC

Nike reported a surprise 1% revenue increase in its fiscal first quarter ending Aug. 31, defying expectations of a mid-single-digit decline. However, profits dropped 31%, reflecting ongoing efforts to clear excess inventory through discounting.

Wholesale revenue grew 7% to $6.8 billion, and North America sales rose 4% to $5.02 billion, exceeding analyst estimates. Direct sales fell 4% to $4.5 billion, and China saw a 9% revenue decline.

CEO Elliott Hill emphasized progress in wholesale, running, and North America but noted uneven recovery across sports, geographies, and channels. Nike is restructuring to focus on sports over lifestyle, cutting 1% of staff, and targeting female consumers through partnerships like NikeSKIMS, launched last week.

Finance chief Matt Friend cautioned that progress will be non-linear as the company navigates external headwinds.

💵 Personal Finance

The Wall Street Journal’s 2026 rankings highlight the top 10 U.S. colleges that deliver outstanding value, combining low net costs with significant boosts to graduates’ earning potential. Notably, seven of these institutions are part of the City University of New York (CUNY) network, with only one Ivy League school making the list.

Why These Colleges Stand Out

The Wall Street Journal’s rankings focus on two key metrics: the average net price (cost after financial aid and scholarships) and the value added to graduates’ salaries (the difference between median graduate earnings and median earnings of high school graduates in the same state). Baruch College, topping the list for the third consecutive year, exemplifies this balance with an average net price under $3,000 and a salary boost of nearly $50,000, enabling graduates to recoup their costs in just two months.

CUNY schools dominate the rankings due to their affordability and ability to drive social mobility. For instance, 47% of Baruch students from the bottom fifth of income earners nationwide rise to the top fifth as adults, according to a 2017 New York Times analysis. Location also plays a role—New York City’s access to high-paying industries gives CUNY graduates a competitive edge, though limited on-campus housing may require students to navigate the city’s high rental costs, averaging $5,600 per month.

While prestigious institutions like Princeton and Stanford offer substantial salary boosts, their higher net prices reflect a trade-off. As higher education expert Jeff Selingo notes, families are increasingly prioritizing affordability over prestige, opting for colleges that provide strong returns without breaking the bank.

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