Morningstar, Inc. - October 2, 2025
How Will the Government Shutdown Affect the US Economy?
A look at how the shutdown could play out.
 Morning DigestOctober 2, 2025 Preston Caldwell A look at how the shutdown could play out. 
ADVERTISEMENT  Editor's Picks  US IPOs just had their best quarter in years. Jacob Robbins  Markets have tended to react to shutdowns as “mini-crisis” events. Dominic Pappalardo  The Fed cut rates and stocks kept climbing in the quarter, even amid risk factors like high valuations and economic uncertainty. Sarah Hansen  Successful thematic investing is about more than just following growth trends. Dan Lefkovitz Investing Insights Apple, Alphabet, Nvidia, and other tech names fueled the push to record highs, while consumer defensives posted losses. Bella Albrecht These top-rated funds from BlackRock make excellent buy-and-hold investments for the long term in 2025 and beyond. Tori Brovet Low valuations offer compelling upside for these international ETFs. Zachary Evens AppLovin and Corning rank among the best stocks in Q3 2025, while the worst include Gartner and Centene. Bella Albrecht These high-quality companies offer the best stocks to buy today. Margaret Giles More New Stock Analyst Reports Nike (NKE) overcame a 9% sales decline in Greater China (13% of total) to post 1% growth in its fiscal 2026 first quarter. Its gross margin fell 320 basis points to 42.2% due to higher markdowns and tariffs and led to an EBIT margin that declined to 7.7% from 10.9% despite a 1% cut in operating costs. Nike outpaced our estimate for a 5.5% sales decline as it continues to implement CEO Elliott Hill's "Win Now" plan. The firm is prioritizing its connections to sports, rebuilding relationships with wholesale partners, clearing overexposed lifestyle products, and innovation. New Fund Analyst Reports JPMorgan Large Cap Value’s (OLVAX) no-nonsense lead manager employs a classic value game plan to good effect and earns Above Average People and Process ratings. Morningstar has enhanced the way we assess alpha opportunity for funds, which is a key component in our ratings calculation. More of this strategy's Medalist ratings than usual may therefore change with this update even in the absence of changes to pillar ratings or fund costs. The Tools You Need to Invest Like an Analyst Stay connected:
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