Trump's new China threat, bank earnings, Boeing deliveries and more in Morning Squawk

As the trading day kicks off, investors are faced with significant developments affecting the market landscape. Recently, President Donald Trump hinted at a potential embargo on cooking oil imports from China, a reaction to Beijing's refusal to purchase U.S. soybeans. This escalating tension between the U.S. and China has contributed to erratic stock market fluctuations in recent days. In a more optimistic turn, Bank of America reported a remarkable surge in investment banking revenue for the third quarter, exceeding earnings expectations and driving their stock up over 5% in premarket trading. Morgan Stanley also surpassed Wall Street's forecasts, leading to a premarket rise of more than 3% in their shares. Following JPMorgan Chase’s earnings announcement, CEO Jamie Dimon expressed concerns about increasing auto market bankruptcies, attributing them to overly lenient lending standards. On the macroeconomic front, Federal Reserve Chair Jerome Powell suggested that the central bank might soon halt its reduction of bond holdings. Amid ongoing government shutdowns, Trump's administration continues to face criticism, particularly as nearly 1,450 federal employees at the Treasury Department received notices of layoffs. This includes the entire staff of the bipartisan-supported Community Development Financial Institutions Fund, further complicating bipartisan initiatives. As the shutdown stretches into its third week, air traffic controllers at various airports have taken action, distributing flyers urging the public to pressure Congress to reopen the government. Some airports have even opted not to air a video from Homeland Security Secretary Kristi Noem, which blames Democrats for the stalemate. In corporate news, Boeing is on track for its best annual plane delivery count since 2018, having delivered 55 aircraft in September, bringing the total to 440 for the first nine months of 2025. The company has stabilized its production following previous crises and aims to ramp up the output of its high-demand 737 Max planes. Furthermore, Boeing secured approval from EU regulators for its $4.7 billion acquisition of Spirit AeroSystems, contingent on the sale of certain Spirit businesses to address competition concerns. In a noteworthy legal development, the Justice Department has seized approximately $15 billion in bitcoin from the wallets of Chen Zhi, who is accused of orchestrating a large-scale cryptocurrency fraud operation in Cambodia. Zhi, currently at large, faces charges of wire fraud conspiracy and money laundering, marking one of the largest forfeiture actions undertaken by the DOJ. Survey data from JPMorgan reveals stark contrasts in economic perceptions among Americans across different income levels, underscoring the varied experiences with the current economic climate. This edition was edited by Josephine Rozzelle, with contributions from a team of CNBC reporters.