Marketplace Morning Report

All eyes on AI Nov 20, 2024

Nvidia, the company that produces chips used in AI, will report its earnings Wednesday after markets close. Susan Schmidt, portfolio manager at Exchange Capital Resources, explains why investors are paying such close attention. Also on the show today: a slightly weaker labor market for college graduates and a closer look at whether long-haul trucking is really facing a driver shortage.

Who will lead the Commerce Department? Nov 20, 2024

President-elect Donald Trump has picked Howard Lutnick to head up the Commerce Department. Lutnick is the CEO of investment bank Cantor Fitzgerald, co-chair of Trump’s transition team and has been instrumental in raising funds for Trump’s campaign. Plus, we speak with author Keith Ferrazzi about his new book, “Never Lead Alone, 10 Shifts from Leadership to Teamship,” and how organizations can and should adjust their mindset in this new era of post-pandemic work.

Baby powder maker taken to court Nov 20, 2024

From the BBC World Service: More than 1,900 people in the UK are taking legal action against the manufacturer of Johnson’s baby powder, claiming repeated use caused their cancers. Saudi Arabia’s multi-billion dollar Public Investment Fund — which is behind big projects in real estate, soccer and golf — is under fire for being used to bankroll vanity projects linked to human rights abuses. And a Russian software company has invited a seven-year-old coding prodigy to join its management team, when he’s old enough to take up paid employment.

The fight over US Steel enters a new round Nov 19, 2024

Nippon Steel is racing to finalize its deal to purchase U.S. Steel before President-elect Donald Trump takes office. But the Biden administration just threw a wrench in that plan, imposing higher tariffs on the Japanese company, despite Nippon’s promise not to import foreign-made steel into the U.S. Also: we discuss market reactions to rising Ukraine-Russia tensions and speak with Rosina Samadani, CEO of Oculogica, a medical device company that has developed a new method of diagnosing concussions.

Could Google really get broken up? Nov 19, 2024

The U.S. government has been fighting with Google for years, accusing it of holding an illegal monopoly. And in one of those antitrust cases, the government wants a harsh fix: a break up of the tech giant’s search business, more specifically, to split off its Chrome browser into a separate company. Plus, how international students play a key role in the finances of U.S. colleges and universities, and why loan applicants are facing a tougher approval process this year.

G20 countries say super-rich should pay more tax Nov 19, 2024

From the BBC World Service: The G20 group of nations has struck a new agreement to tax the ultra-rich in order to fund sustainable development projects. Plus, UK farmers are protesting in London over plans for a new estate tax on agricultural land worth more than $1.2 million. And how is the Egyptian economy faring with the Suez Canal still not back to full capacity following Houthi attacks?

Spirit Airlines will keep flying amid bankruptcy protection Nov 18, 2024

There’s news today Spirit Airlines has filed for protection from its creditors, after years of losses and a failed merger. But the airline promises tickets are still good and schedules remain unchanged. Also on the program, we continue our discussion of angel investors with Loretta McCarthy, co-CEO and managing partner of Golden Seeds Venture Fund, a network that connects investors with startups founded by women.

The risks of being an “angel” investor Nov 18, 2024

A new report finds women now make up nearly half of angel investors, a field once dominated by men. These investors fund early-stage startups in return for partial ownership. Today, we speak with Deb Kemper, managing partner at Golden Seeds Venture Fund, and a seasoned pro in this risky business of getting promising new ventures off the ground. But first, we’ll look at what’s driving consumer spending as the holiday season kicks off.

Brazil prepares to host the G20 summit Nov 18, 2024

From the BBC World Service: Set against a backdrop of political turmoil, it’s going to be a big ask for the leading rich and developing nations to sign up to any meaningful declarations. In India’s capital, Delhi, restrictions are being tightened on construction and vehicles — air quality has become so bad that a blanket of toxic smog is covering the city. And we visit Madagascar, off the coast of southern Africa, where we look at some solutions to wide-scale environmental damage.

Tricks of the Trade: A Markets Odyssey Nov 15, 2024

We call ourselves “Marketplace,” so part of our job is exploring how marketplaces work, in all their forms. Come with me as we visit five markets, all in the near-orbit of this program’s world headquarters in Los Angeles. None are financial markets in a formal sense, but all markets are financial markets in a way, right? My goal was to learn from the experts the right and the wrong moves in places where humans buy and sell face to face.

This is “Tricks of the Trade,” a Marketplace special. What we can learn from the pros at five marketplaces.

Dancing in the streets with bankers Nov 15, 2024

Stock, dollar and cryptocurrency buyers may have calmed down from their initial excitement over Donald Trump’s re-election. But bankers are still in a party mood, says JPMorgan Chase CEO Jamie Dimon. He made that comment yesterday at a global forum in Peru, where leaders of major economies have gathered. Also on the program: U.S. jobless claims hit a six-month low, and South Korea’s TV and film industry faces significant challenges.

How to shop farmers markets like a pro Nov 15, 2024

At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. For the final installment of our new “Tricks of the Trade” series, we learn how to hunt for the best fruit and vegetables at the Santa Monica farmers market. But first, how South Korean auto giant Hyundai is preparing for the Trump administration.

Chocolate makers are unhappy with delay in deforestation law Nov 15, 2024

From the BBC World Service: The European Parliament has voted to delay and water down a proposed ban on importing commodities like cocoa and soy linked to deforestation. But chocolate companies aren’t happy. Also: “Squid Game” Season 2 is on the way. But as fans await its release, Korea’s film and TV producers say their industry is facing a “serious crisis.” We visit the set to find out what’s at stake.

Trade partners evaluate options with Trump administration on the way Nov 14, 2024

Republicans will lead the House of Representatives, the Senate and the executive branch, giving President-elect Donald Trump considerable leeway to push through his tax, immigration and trade agendas. It also means the biggest U.S. trading partners need to adjust. “Marketplace Morning Report” host David Brancaccio spoke with The Economist’s editor-in-chief, Zanny Minton Beddoes, about what’s to come. Also on today’s program, an FBI raid on the home of Polymarket’s CEO and a new congestion pricing plan for New York City.

Dawn patrol at the fish market Nov 14, 2024

At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. For the fourth installment of our new “Tricks of the Trade” series, we wake up in the wee small hours to see what’s fresh at San Pedro Harbor’s fish markets. Plus, we’ll look at why the cost of driving is going up.

Will Peru’s new Chinese-built megaport change Pacific power dynamics? Nov 14, 2024

From the BBC World Service: The ribbon-cutting is taking place today at the Port of Chancay — a Chinese-built megaport on Peru’s Pacific coast, that could transform regional trade. But will those investments come with any geopolitical risks? Plus, we hear from the first recipients of climate change compensation.

October inflation numbers meet forecast Nov 13, 2024

According to the latest CPI numbers out on Wednesday, prices rose 0.2% in October and were 2.6% higher than they were a year ago. But wage growth continues to outpace inflation. As Americans are seeing a rise in disposable income, we’ll look at how it’s helping drive a significant improvement in consumer confidence and spending. Also on the show, we’ll explain the role federal income tax has traditionally played in the federal budget.

The glitz and glamor market Nov 13, 2024

At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. As part of our “Tricks of the Trade” series, we’re heading to five different markets in LA. Today, we’re visiting the LA jewelry and gemstone district. But first, we’ll look at a new entity the incoming Trump administration is calling the Department of Government Efficiency.

How climate change is hitting the wine industry Nov 13, 2024

From the BBC World Service: This year is on track to be the warmest on record according to the UN’s World Meteorological Organization and extreme weather is having a significant impact on the grapes grown for wine production. Plus, the electric vehicle maker Rivian has linked up with Germany’s Volkswagen. And can Bitcoin’s value continue to soar?

Climate change is front of mind for homebuyers Nov 12, 2024

According to new research from Zillow, nearly 90% of would-be homebuyers say it’s important to find a house with at least one “climate-resilient feature,” like a flood barrier, seismic retrofitting or a water catchment system. More listings are starting to highlight those features, too. But first: what a stronger dollar means for the U.S. economy and where bitcoin prices stand after the election.

A different kind of Wall Street is blooming Nov 12, 2024

At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. For the next installment of our new “Tricks of the Trade” series, we visit The Original Los Angeles Flower Market to learn from experts about the do’s and dont’s in the floral business. Plus, we hear about a consequential climate case from The Netherlands.

Shell wins appeal in landmark emissions case Nov 12, 2024

From the BBC World Service: Oil giant Shell has won a landmark case in the Dutch courts, overturning an earlier ruling requiring it to cut its carbon emissions by 45%. Plus, China shows off its latest military hardware at a major aviation show. And, were some Spanish businesses slow to realize the dangers of the country’s recent devastating floods?

Are you shopping veteran-owned businesses this holiday season? Nov 11, 2024

Veterans own about 5.4% of businesses in this country, generating more than $900 billion in revenue. Those who have served are pretty good at starting and running businesses, thanks to the skills they learned in the military. We’ll hear more. Plus, how U.S. fiscal policy will fare under a second Trump term and what a GOP-controlled Congress would mean for tax policy.

Marketplace goes to a marketplace Nov 11, 2024

At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. As part of our new “Tricks of the Trade” series, we’re heading to five different markets in LA. Today, we’re taught how to navigate The Rose Bowl Flea Market by a pro. But first, we’ll look at how president-elect Donald Trump’s fiscal policies could impact government finances.

Can Singles’ Day lift China’s economy? Nov 11, 2024

From the BBC World Service: China’s annual shopping bonanza offers attractive discounts to tempt shoppers to spend big, but will the price cutting work? Then, the latest COP international climate conference is getting underway and comes as projections suggest this year will be the hottest ever recorded. And later, facing population decline, Croatia’s government is trying to encourage people who’ve left the country to return home.

What tomorrow’s workforce was thinking when they cast their ballots Nov 08, 2024

Gen Z has come of age in a pandemic, lived through its first spike in inflation and was raised in the shadow of the Great Recession. Gen Zers also have 86% less purchasing power than than baby boomers did at their age. And the issue of affordability was on their minds when they headed to the polls. Also on today’s program, we’ll delve into immigration and the future of inflation.

Though voters are sour on the economy, the central bank isn’t Nov 08, 2024

The Federal Reserve cut its short-term interest rate by a quarter of a percentage point yesterday. At his briefing, Fed Chair Jerome Powell stayed away from politics, despite the freshness of the news of Donald Trump’s decisive victory. But many of Trump’s proposals could affect the central bank’s interest rate policy. We dig in. Plus, a look at Trump appointments and a view on how European investors are moving money.

China announces huge debt relief package Nov 08, 2024

From the BBC World Service: China has unveiled measures worth $1.4 trillion to tackle a mountain of local government debt, as Beijing steps up plans to support its slowing economy. Then, an increasing number of people in France are opting for a mixed lifestyle — part city job and part farming. Plus, the COP29 climate conference in Azerbaijan gets underway on Monday but has been overshadowed by a scandal over fossil fuel deals.

Betting markets knew something all those pollsters didn’t Nov 07, 2024

This was a breakout moment for companies taking bets on the election’s outcome. Betting markets got attention for their early predictions of a victory by former President Donald Trump, while traditional polls were showing a tossup. We’ll hear more. Plus, why the U.S. dollar may grow stronger, how Trump’s immigration policies could impact the labor market, and why a Fed rate cut today may not bring mortgage rate relief.

Trump wants to claw back unspent IRA funds. That might not be easy. Nov 07, 2024

Among the many promises President-elect Donald Trump laid out on the campaign trail: clawing back unspent money from the Inflation Reduction Act, which has poured billions into the clean energy sector. But much of those funds is destined for red states and red counties, and the politics of stopping the money will be tough. Also on the program: a look at how the economy factored into voting decisions with Karen Petrou.

Has Germany’s economy gone kaput? Nov 07, 2024

From the BBC World Service: Germany’s coalition government is falling apart after the chancellor unexpectedly sacked his finance minister yesterday. Elections are now expected early next year. Plus, some of Germany’s corporate giants are planning layoffs as profit margins are falling off. And this seems to be more of a longer-term economic slide rather than just a recession. Where does this uncertainty leave Europe’s largest economy?

What happens to Fed independence now? Nov 06, 2024

The Federal Reserve meets today and tomorrow to determine the future path of interest rates. The central bank is designed to do its work insulated from politicians, and its independence from political pressures is a cornerstone of monetary policy. But a second presidency of Donald Trump could bring that independence into question. We’ll hear more. We’ll also discuss the connections between Trump, interest rates and the deficit.

Money movements and another Trump presidency Nov 06, 2024

Donald Trump has won the race for the White House. What does that mean for financial markets? With Ben Kumar, head of equity strategy at Seven Investment Management, we’ll delve into stock movements, the market volatility and the potential impact of tariffs. We’ll also unpack the economic ripple effects of a Republican-controlled Senate and learn about the backgrounds of two potential economic leaders under Trump: investor John Paulson and billionaire Elon Musk.

Concern grows over weight loss drug dupes Nov 06, 2024

From the BBC World Service: The diabetes drug giant Novo Nordisk is reassuring investors with big sales numbers for its popular weight loss drug, Wegovy. But there are concerns over the production of unofficial copies of its drugs, which have been linked to hospitalizations and deaths. And in Nigeria, millions have been without electricity for more than a week following technical problems with the country’s power grid. We hear about the impact from businesses.

“Investors see the same polls that everyone else sees” Nov 05, 2024

Investors don’t have a hotline to our political future and are stuck in wait-and-see purgatory, just like the rest of us on this Election Day. We’ll try to parse some signals financial markets are giving. Plus, some striking Boeing employees will start returning to work as early as tomorrow. They voted to ratify a new contract and have ended the pickets. And later, holiday shopping supply chains are working like they’re supposed to this year.

How to watch for swings in markets as election returns come in Nov 05, 2024

Stocks index futures are pointing to modestly higher markets this Election Day morning. The 10-year interest rate is steady today but is the highest it’s been since late July. We’ll be keeping an eye on currency markets, too. Then, new companies are coming to the Dow Jones Industrial Average. And later, some of Hollywood’s biggest stars are coming to Broadway for limited runs. But how long does a show have to stay open to make money?

Trouble for Temu? Nov 05, 2024

From the BBC World Service: The European Union has launched a formal investigation into the Chinese e-commerce site Temu over concerns it may be allowing the sale of illegal goods. But first, British Columbia’s port employers have locked out workers there in response to strike action. That could potentially halt $575 million in daily trade. Plus, we’ll unpack the ripple effects of a car finance court ruling in the U.K.

A different data set to gauge what might happen on Election Day Nov 04, 2024

On today’s show, economist Julia Coronado, president of MacroPolicy Perspectives, explains which metrics she’s using to guide her thinking about the election: individual campaign contributions. Right now, it’s favoring Democrats. We’ll hear more. Plus, we’ll draw a line between the election and this morning’s bond market. And later: a tax jackpot for savers ages 60 to 63 and an estimate of the costs for damages caused by flooding in Spain.

Counting the costs of Spain’s devastating floods Nov 04, 2024

From the BBC World Service: More than 200 people were killed in the floods in Valencia, Spain — the worst in the country for decades. Now, authorities are facing the massive task of reconstructing key roads and tunnels that have been left in ruins. We’ll hear some of the “incalculable” economic impacts. Then, added sugars in packaged baby foods in the Philippines are raising flags for nutritional health experts.

The other major economic newsmaker of the week Nov 04, 2024

Yes, tomorrow is Election Day, the outcomes of which have the potential to move markets. But don’t forget: We have a Federal Reserve meeting this week too. On Thursday, the central bank will announce a decision on interest rates. We’ll preview what to expect. Then, is it just us or are Black Friday deals starting earlier this year? And we’ll also head to rural Wyoming to hear about the tangible impact of news consolidation.

A jobs report that doesn’t say much about the labor market Nov 01, 2024

Today’s jobs report featured a shockingly small number of new hires with just around 12,000 jobs added. However, as FHN Financial’s Christopher Low explains, these dismal figures have more to do with recent extreme weather events and the ongoing strike at Boeing. Plus, we look at why a tax provision expanding the amount of money very rich people are allowed to pass on after death is expiring — and why most people shouldn’t be concerned about it. And, the BBC’s Mariko Oi highlights the global success of Hello Kitty on the beloved character’s 50th anniversary.

What’s behind the uncertainty in the housing market? Nov 01, 2024

It hasn’t been a normal housing market for years now, but it’s been especially uncertain in the past few months. We delve into how interest rate cuts, mortgage rate fluctuations, and the election are all making conditions for buying a home a bit hard to read for most people. Plus, a preview of today’s highly anticipated jobs report which might reflect recent headlines more than it does the overall health of the economy. And, why prices at the pump are poised to dip below $3 on average nationwide despite global trends that would suggest otherwise.

Indonesia bans the sale of Google Pixel phones Nov 01, 2024

From the BBC World Service: A ban on Google’s flagship Pixel smartphone in Indonesia comes because the company failed to meet requirements for certain smartphones sold domestically to contain at least 40% of parts manufactured locally. Plus, Hello Kitty turns 50, and the landmark birthday also marks an uptick in the fortunes of Sanrio, the company behind the character.

The last reading on inflation before the election Oct 31, 2024

This morning, the central bank’s preferred measure of inflation — the personal consumption expenditures price index, or PCE — came out and clocked in at 2.1% annually in September. With fuel and energy prices stripped out, the index was up 2.7%. What should we make of these figures? Then, if former President Donald Trump is re-elected, he’s promising steep tariffs on goods entering the U.S. We’ll explore the knock-on effects.

All the work that goes into spooks, scares and haunts Oct 31, 2024

For some, spooky season means buying truckloads of candy or dusting off that 12-foot plastic skeleton in the basement. For others though, it’s time to get to work. This Halloween, we’ll check in with Star Romano, a stage production manager at the Queen Mary’s Dark Harbor in Long Beach, California, to hear more about the scare economy. Take a listen … if you dare. Also: unpacking Big Tech’s earnings and spending on AI.

The U.K.’s budget gets the IMF’s seal of approval Oct 31, 2024

From the BBC World Service: In the United Kingdom, the government has unveiled its first budget since the Labour Party got back in power, its first in 14 years. The measures amount to a $50 billion tax hike to fund public services, with a big focus on taxing businesses and high earners. We’ll hear more. Plus, Donald Trump is proposing tariffs of up to 20% for all goods entering the U.S. What sort of impact would that have?

A delightful surprise for those in the labor market Oct 30, 2024

The private payroll company ADP reported that a lot more people than expected were added to its payrolls this month. True, the more closely watched data on hiring and unemployment is not due from the government until Friday. But this is new evidence that the American jobs machine is still putting people to work. We dig in. Plus, a look at Google’s strong earnings and the continually daunting car market.

The legal gray area of an Elon Musk giveaway Oct 30, 2024

Philadelphia’s district attorney sued billionaire Elon Musk earlier this week over a controversial $1 million-a-day giveaway to registered voters, alleging that it is an “unlawful lottery.” Musk is conducting this through his pro-Donald Trump political action committee, called America PAC. On today’s program: a look at where Elon Musk and his super PAC’s “sweepstakes” fit into campaign finance rules. But first, what are experts anticipating from September’s PCE inflation report?

A tale of two European economies Oct 30, 2024

From the BBC World Service: First, it’s the “worst of times” camp. While Germany’s economy grew unexpectedly, German-based car company Volkswagen announced major layoffs and plant closures. We’ll discuss some of the reasons and the fallout. Then, it’s the “best of times” for Spain’s economy, which exceeded expectations with 0.8% growth. We’ll walk through the reasons why, and hear why these macroeconomic gains might not be felt by everyday Spaniards.

A novel investing tool or outright gambling? Oct 29, 2024

The online trading platform Robinhood has started allowing its customers to bet on who will the the election. While its not the first to do so, it is among the first in the U.S. to jump into a new kind of financial instrument called “event contracts.” But it’s not without controversy. We’ll explain. Plus, home price increases appear to be slowing, and companies aim to make some green off of matcha’s popularity.

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