Marketplace Morning Report

(U.S. Edition) The Senate has approved a $4 trillion budget, checking one of the boxes the GOP needs before it pushes a tax overhaul. We'll look at how this will help Republicans' tax efforts, and whether the budget provides anymore clues about the party's plans for tax reform. Afterwards, we'll discuss Walmart's courtship of Lord & Taylor, one of the country's oldest department stores, and then report on the emerging demand for "greener" aluminum.

(U.S. Edition) U.S. authorities are reportedly looking at connections some U.S. individuals may have to South Africa's Gupta family, which is currently embroiled in a series of scandals. We'll look at the family's background and their political influence. Afterwards, we'll discuss a new report that says the aging experience will be different for younger generations. One of these changes: growing inequality. Afterwards, we'll look back at a major event in our financial history, which happened 30 years ago today. On Black Monday, the stock market experienced the largest single-day ever.

(Global Edition) From the BBC World Service ... China's economic growth data came in better than expected today, just as the ruling Communist Party's once-every-five-years conference gets underway. But can the numbers be trusted? Afterwards — it's the 30th anniversary of Black Monday, the single-biggest daily decline in U.S. stock markets. The panic then rippled across the world, leading to double digit declines in places from Australia to Spain to Hong Kong. With global markets hitting fresh highs, have we learned any lessons from the intervening three decades? Then, the Hindu festival of Diwali celebrates the triumph of good over evil. But these days in India's polluted capital Delhi, it's also a battle between those who insist on celebrating with traditional fireworks, and those who just want clean air. We look at the winners and losers after the country's highest court banned the sale of fireworks in the capital.

(Markets Edition) In the third quarter, investors pulled $36 billion out of mutual and exchange-traded funds in the U.S. Diane Swonk, from DS Economics, stopped by to chat with us about the decrease in the number of Americans who own stocks, and the rising trend of people who are borrowing against their own 401(k)s. Afterwards, we'll discuss companies that the stock market loves despite their unimpressive or completely non-existent profits, like Uber and Netflix.

(Global Edition) From the BBC World Service ... Revitalizing the Chinese economy has been a key part of President Xi Jinping’s leadership, but some say those efforts have come up short. Can his promise of a “new era” in Chinese politics fire up the nation’s growth engine? Afterwards, we’ll discuss the rural and urban divide in Shanghai and why upward mobility is so difficult to achieve there. Then, we’ll take you to Australia where UK regulators hit Rio Tinto and two former executives with the biggest-ever fine, and explain what that could mean for one of the world’s largest mining companies.

(Markets Edition) The markets keep hitting new highs. Is this bullish sentiment or are actual profits pushing these stock prices? Susan Schmidt from Westwood Holdings Group stopped by to discuss earnings season, in which the big banks have reported better-than-expected earnings. Afterwards, we'll go back 30 years to revisit the markets when they weren't doing so well. On Oct. 19, 1987, the stock market suffered its biggest single-day drop in U.S. history, and it turns out that in 2017, our regulatory system and circuit breakers might not be enough to prevent a similar decline.

(U.S. Edition) President Xi Jinping delivered a big speech today to kick off China’s Communist Party Congress, which happens twice a decade. We'll look at the economic policies Jinping is expected to focus on during the event. Afterwards, we'll speak with author Diana Henriques about Black Monday, the stock market's biggest single-day drop in U.S. history. She shares some of the lessons that America still needs to learn from that event.

(Global Edition) From the BBC's World Service ... The partnership sees Airbus take a majority stake in Bombardier's C-Series jet and analysts say it could have huge implications for the industry. The planes can be assembled inside the U.S., potentially avoiding the crippling 300 percent import tariff the U.S. government wants to see imposed. The deal hasn't been welcomed by U.S. rival Boeing — they complain that the firms receive too much state support. In China, preparations are underway for the Communist Party Congress, which begins tomorrow. President Xi will set out his economic vision for the next five years. We take the mood of state-run media, who have published an editorial attacking Western democracy. And is cash really heading for the trash? We hear from Victoria Cleland, chief cashier of the Bank of England, who says last year British banknotes grew 10 percent in value.

(U.S. Edition) Canadian jet manufacturer Bombardier has been in an ongoing trade fight with America's Boeing. Well, now Bombardier is selling the majority stake of its C-series plane to the French company Airbus. We'll report on why the Canadian company went through with the deal and how it may be able to sidestep a high U.S. tariff as a result. Afterwards, we'll discuss whether Congress can help make consumer data safer, and then  look at Seattle's bid to become home to Amazon's second headquarters.

(Markets Edition) Earnings season is looking good so far. Wall Street banks Goldman Sachs and Morgan Stanley have reported better-than-expected earnings. David Kelly, chief global strategist for JP Morgan Funds, joined us to talk about some of the factors fueling their success. Next, we'll discuss the Senate's expected vote this week on a budget resolution whose outcome is hard to predict. And finally, we'll look at America's growing shift to electric homes.