Bloomberg Money Minute: Auto Loan Delinquencies, Government Shutdown, and Bob Ross Art Auction

Auto Loan Delinquencies Rise

• ⚠️ The share of subprime borrowers at least 60 days past due on car loans has reached nearly 7%, the highest in over 30 years.
• 📉 This trend is attributed to high costs, inflation, and a weakening job market, with fears that prime borrowers may also start falling behind.

Government Shutdown Nears End

• 🚫 Hundreds of thousands of federal employees are working without pay, and many more have been furloughed due to the ongoing shutdown.
• 🏛️ A stopgap bill is expected to pass the House, potentially reopening the government as soon as tonight.

Market Update

• 📈 Stocks are mostly higher on Wall Street, with the Dow Jones Industrial Average building on its all-time high, up three-quarters of a percent.
• 📉 The Nasdaq is down a third of a percent due to weakness in the tech sector, while the S&P 500 is flat.

Bob Ross Paintings Auction

• 🎨 Three paintings by the late TV artist Bob Ross were sold at auction in Los Angeles for $600,000.
• 📺 The proceeds from the auction will benefit public television stations.