Top Overnight News US President Trump said there could be firings and project cuts if the shutdown continues, according to an interview. The Trump administration is pursuing deals across up to 30 industries, involving dozens of companies deemed critical to national or economic security, according to more than a half dozen people familiar with the talks. In some cases, the administration is offering tariff relief in exchange for concessions, revenue guarantees, or taking equity stakes in troubled companies, among other types of help. RTRS The White House has compiled a list of agencies it plans to target for federal firings and is expected to announce it as soon as today. CNN US administration to enlist powerful businesses and labor groups to push Democrats to end shutdown, reports: Axios. Government report flags security risks from China’s DeepSeek models, though they remain behind American counterparts: Axios. The US banking system’s reserves, a key factor in the Federal Reserve’s decision to keep shrinking its balance sheet, tumbled for the eighth straight week to a new mark below 3 trillion. Bank reserves fell by about 20.1 billion to 2.98 trillion in the week through Oct. 1, according to Fed data released on Thursday. That’s the lowest level since January. RTRS Google will locate a new data centre in West Memphis, Arkansas, with a multi-billion USD investment: Reuters. Hedge funds are gearing up for Japan’s LDP leadership election tomorrow, with some investors looking to take risk off the table, while others are looking to profit from possible yen strength. BBG Huawei Technologies Co. used advanced components from Asia’s largest technology firms (TSMC, Samsung, and SK Hynix) in at least some of its leading Ascend AI processors, a research firm discovered during teardowns, highlighting China’s reliance on foreign hardware as it works to boost domestic production of AI semiconductors. BBG The yen weakened after Kazuo Ueda failed to indicate whether the BOJ will raise rates this month. The unemployment rate rose to its highest in more than a year. BBG A senior Hamas official said the Palestinian militant group will respond to Donald Trump’s plan to end the war in Gaza “very soon.” BBG Applied Materials fell premarket (AMAT -3% in pre) after the firm warned of a 600 million sales hit in fiscal 2026 from the latest US curbs on China. BBG President Trump has projected unwavering confidence that he is winning the messaging war over the government shutdown. But behind the scenes, his team is increasingly concerned that the issue at the center of the debate will create political vulnerabilities for Republicans. Advisers are worried that the GOP will take the blame for allowing healthcare subsidies to expire, raising costs for millions of Americans ahead of next year’s midterm elections, according to administration officials. WSJ Fed's Williams (voter) does not comment on the outlook for monetary policy. Says, robust policy works to anchor inflation expectations(zerohedge)