In labor news, several major U.S. companies have announced layoffs affecting tens of thousands of workers. Amazon said it would eliminate about 14,000 corporate jobs, with Reuters reporting that number could more than double, as artificial intelligence tools increasingly replace white-collar workers. Meanwhile, Target announced plans to cut 1,800 corporate jobs, General Motors said it’s cutting over 3,300 electric vehicle jobs, and Paramount began laying off 2,000 workers following the media conglomerate’s merger with Skydance. Meanwhile, shipping giant UPS said it had eliminated some 48,000 jobs this year. Last week, the Federal Reserve lowered interest rates for the second consecutive meeting, as Fed Chair Jerome Powell warned of a weakening labor market. The Fed’s decision came in the absence of key data on inflation and employment due to the government shutdown.