Morning Business Report: USDA to require SNAP users to reapply as holiday travel weakens
The government shutdown is over, and economic reports will resume this week.
(LILAMAX)- The government shutdown is over, and economic reports will resume this week. Among the most anticipated releases are the delayed employment figures for September and October, as well as existing home sales. AI company NVIDIA, along with Walmart and Target, will also report earnings.
Agriculture Secretary Brooke Rollins says the Trump administration will require all SNAP recipients to reapply for benefits to prevent fraud. Recipients must demonstrate they still meet eligibility requirements. The USDA says more than 226,000 fraudulent benefit claims and more than 691,000 fraudulent transactions were approved.
Fewer Americans are expected to fly over Thanksgiving and Christmas as the long shutdown and economic concerns weigh on travel demand. Thanksgiving week bookings are down 3.3% from last year, according to Cirium, and Christmas travel is also running behind expectations.
Major indexes fell Monday as an intensifying selloff in bank and tech stocks dragged the market lower. Investors remain concerned about the possibility of no rate cuts in December, AI-related overspending, and broader economic headwinds.
Jeep, struggling with six consecutive years of declining U.S. sales, is launching the Jeep Recon this week — a Wrangler-inspired, all-electric SUV — part of its push for a turnaround.
Meanwhile, the Postal Service says prices will rise in 2026. First-class stamps will stay the same, but Priority Mail Express, Parcel Select, and USPS Ground Service rates will increase by about 6%.
