Economy update delayed as tariff rebate decision heads to Supreme Court

The government was expected to release updated economic growth figures today, but that report remains delayed following the recent government shutdown.

(LILAMAX)- The government was expected to release updated economic growth figures today, but that report remains delayed following the recent government shutdown. The summer growth data was originally scheduled for October 30th, and officials say they are still working to get reporting timelines back on track, though no new release date has been announced.

Meanwhile, $2,000 tariff rebates could depend on an upcoming Supreme Court ruling. Commerce Secretary Howard Lutnick says if the Court determines the tariffs were illegal, the U.S. will be required to refund payments — but the money would go back to the countries that paid them, not to American consumers.

On Wall Street, stocks surged on growing expectations of a possible interest rate cut in December and renewed enthusiasm around artificial intelligence. The Nasdaq recorded its strongest performance since May.

The U.S. government also plans to investigate airlines suspected of failing to comply with flight reduction requirements during the shutdown. Transportation officials say formal letters of investigation will be sent to certain carriers, though they have not been publicly identified. The FAA had ordered reduced flight schedules near the end of the shutdown to maintain air safety.

As the holiday season approaches, many Americans are debating the right time to put up their Christmas trees. Balsam Hill, a major artificial tree retailer, says tradition varies — but most households prefer decorating between late November and the first week of December, often starting the weekend after Thanksgiving.