Overview
- Airlines were told to cancel 4% of flights at 40 high-traffic airports on Friday because of air traffic controller short-staffing, with FlightAware counting more than 800 U.S. cancellations.
- The government shutdown reached its 36th day as the Transportation Department warned of mandatory schedule reductions at major airports if no deal is reached.
- October Challenger data showed 153,074 announced layoffs, a 175% jump from September and the highest October total since 2003.
- Fed Governor Austan Goolsbee said the central bank is uneasy about continuing rate cuts without official government inflation data.
- Stocks slid Thursday with the Nasdaq down nearly 2% intraday before futures steadied Friday, as earnings swings, a CarMax CEO change, and a reported Trump administration push to lower out-of-pocket prices for weight-loss drugs added to volatility.