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Greetings N2K reader!

The theme of this week's world famous News Haiku™ competition is that the FBI’s NBA betting probe has put sports betting firms in the spotlight. Rather than, you know…basketball. Which is a bit of a shame. Email me your entry by Thursday at noon for a chance to be voted on by your Cheddar peers!

Now let’s talk about the news you need to know!

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Is a U.S.-China trade deal near? Maybe!

• Striking Boeing defense workers turn down latest c …

• Flights to LAX halted over lack of air traffic con …

• ‘Chainsaw Man’ anime film topples Springsteen biop …

• Wall Street rallies toward more records as gold’s …

What’s the stock market up to, eh?

$SPX ( ▼ 0.21% ) $DJI ( ▼ 0.1% ) $NDX ( ▲ 0.21% )

Companies mentioned in today’s newsletter

$BA ( ▼ 4.7% )  $KDP ( ▼ 6.0% )  $RNA ( ▼ 0.17% )  $NVS ( ▼ 1.38% )  

Is a U.S.-China trade deal near? Maybe!

The United States and China appear to be narrowing the gap toward a trade agreement, fueling global optimism as President Donald Trump and Chinese leader Xi Jinping prepare for a critical meeting in South Korea. I’m sure there’s nothing that could go wrong from here on out and markets are reflecting my optimism, so check your 401(k).

Officials from both nations have expressed confidence, highlighting progress that could mitigate economic tensions gripping the world's largest economies.

China's top trade negotiator, Li Chenggang, announced that the two sides had reached a "preliminary consensus," while U.S. Treasury Secretary Scott Bessent described the discussions as creating “a very successful framework.”

Trump remains positive, stating that both sides want to make a deal. He suggested Xi could even visit Washington or his lavish Florida property, Mar-a-Lago, in the near future. Bessent added that the threat of higher tariffs on Chinese goods was now "effectively off the table," another step toward easing tensions.

Trump emphasized the significant economic stakes involved: “It’s very important that we cooperate as partners to ensure smooth and secure supply chains,” he said. Which all sounds rather reasonable, doesn’t it?

Song of the day: Ile, ‘Un Amor De La Calle’

Ah, the pain of being betrayed in love. iLe's cover of "Un Amor de la Calle" is a popular and well-received tribute to the classic bolero song by Hector Lavoe. It’s stripped-down, gritty, and feminist. It’s sultry and empowering. It’s the essence of heartbreak. It’s Tuesday morning. What the hell else are you gonna do?

Striking Boeing defense workers turn down latest contract offer

The strike by Boeing $BA ( ▼ 4.7% ) defense workers in the Midwest shows no sign of slowing down after union members rejected the aerospace giant’s latest contract offer on Sunday. Around 3,200 machinists at plants in Mascoutah, Illinois, and the Missouri cities of St. Louis and St. Charles remain steadfast in their demands for improved wages and retirement benefits. The strike, in its third month, poses challenges for Boeing’s Defense, Space & Security division, which represents over a third of the company’s revenue.

Union leaders criticized Boeing’s approach, saying the rejected offer had “no meaningful improvements” to workers’ retirement benefits or pay increases for tenured employees. “Boeing claimed they listened to their employees – the result of today’s vote proves they have not,” said Brian “Bryan“ Bryant, president of the International Association of Machinists and Aerospace Workers. Despite the closeness of the vote (51% to 49%), union representatives maintained that their solidarity is strong.

My sense is that it’s not that strong, based on the numbers.

Boeing expressed disappointment with the vote and emphasized its contingency plan, stating that many workers (49% of them, it seems) “understand the value” of the offer and want to return to work. As negotiations over wages and benefits remain tense, Boeing will need to address worker concerns while mitigating impacts on its operations and upcoming third-quarter earnings report.

Today on the ‘gram: Trick or treat?

Post of the day: Speaking of low wages

Quote of the Day

Flights to LAX halted over lack of air traffic controllers

Los Angeles International Airport experienced temporary flight halts on Sunday due to staffing shortages. The FAA reported similar staffing-related delays at other major airports, including Chicago O'Hare, Newark Liberty, and Ronald Reagan Washington National Airport. The situation highlights the ongoing strain caused by the federal government shutdown, leaving air traffic controllers working without pay.

U.S. Transportation Secretary Sean Duffy warned travelers of impending disruptions. During an appearance on Fox News’ Sunday Morning Futures, he revealed that more controllers were calling in sick under mounting financial pressure. “Just yesterday, … we had 22 staffing triggers. That’s one of the highest that we have seen in the system since the shutdown began. And that’s a sign that the controllers are wearing thin,” Duffy said.

The FAA issued a temporary ground stop at LAX from 11:42 a.m. to 1:30 p.m. Eastern time. Fortunately, delays at LAX didn’t cascade into widespread disruptions, with FlightAware data showing Dallas airports saw worse delays due to weather and equipment failures.

As staffing shortages continue affecting airports nationwide, travelers should brace for more disruptions. What are your Thanksgiving plans, by the way?

Should you check your 401(k) today?

👍️ 

Yes, indeed.

‘Chainsaw Man’ anime film topples Springsteen biopic at the box office

Anime continues to make its mark in Hollywood, as “Chainsaw Man — The Movie” took the top spot at the North American box office this weekend. The film, based on the popular manga series by Tatsuki Fujimoto, raked in $17.25 million in its debut, taking the lead over “Black Phone 2,” which sounds like it was written by a computer, and the Bruce Springsteen biopic, “Deliver Me From Nowhere,” its title an appeal that clearly went unanswered. What, was the title “Nobody Watch This” already taken?

“Chainsaw Man” combines elements of a love story with the gory thrill of a demon-slaying adventure. Audience enthusiasm was evident, with the movie earning an A on Cinemascore and demonstrating the growing popularity of anime in theaters. Less than two months ago, “Demon Slayer: Kimetsu no Yaiba – Infinity Castle” broke records with a $70 million debut.

On the flipside, “Deliver Me From Nowhere,” starring that guy from “The Bear” who looks like Willy Wonka as Bruce Springsteen, earned $9.1 million while receiving a B+ on Cinemascore. The film explores Springsteen’s struggles during the creation of his famed “Nebraska” album in 1982. I mean, really?! I can’t think of a single other topic that would bring people, especially younger ones, into movie theaters.

I’m curious whether you’re more interested to see the Springsteen or the manga movie, personally, and have asked the exact question in today’s poll. BORN IN THE USA! Or JAPAN! JAPAN! BORN IN JAPAN! You choose.

Wall Street rallies toward more records as gold’s price slumps again

Wall Street began the week with a strong showing, continuing its record-breaking rally. By Monday afternoon, the S&P 500 had risen 1%, pushing past its previous all-time high set on Friday. The growth comes amid hopes for easing tensions between the United States and China. But the rally has also been fueled by several factors, including low interest rates, robust corporate profit growth, and optimistic trade outlooks. Keurig Dr Pepper $KDP ( ▼ 6.0% ) rose 7.2% after meeting profit expectations, bolstered by higher prices for its K-Cup products. Avidity Biosciences $RNA ( ▼ 0.17% ) surged 42.3% following Novartis’ $NVS ( ▼ 1.38% )  $12 billion acquisition announcement. It’s too bad their witty stock ticker symbol will soon be retired.

Globally, markets followed Wall Street’s lead, with significant gains seen in Asia and Europe. Meanwhile, gold prices dipped back toward $4,000 per ounce after nearly reaching $4,400 last week. Still, this does mean my plan to destroy Fort Knox to drive prices up comes back into play, Mr. Bond.

Poll of the day: Cartoons or Springsteen?

Poll of the day result: COLA or not COLA

We asked: “Is a 2.8% increase in Social Security payments adequate to cover the increase in your cost of living?”

You answered:

🟩🟩🟩🟩🟩🟩 Are you joking? This is a joke, right? (580)

 🟨⬜️⬜️⬜️⬜️⬜️ Sure, I'll take an extra $56 a month. It will just about cover my HBO Max subscription. (87) 667 Votes

via @beehiiv polls

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