Nvidia's day of deals, the Fed decision, Boeing earnings and more in Morning Squawk

In a crucial day for investors, Nvidia captured headlines by securing partnerships with several prominent companies during its recent technology conference. CEO Jensen Huang also announced significant advancements in domestic production, marking a pivotal moment for the chip industry. Today, all eyes will be on the Federal Reserve as it prepares to unveil its next interest rate decision at 2 p.m. ET. Current expectations suggest a nearly certain reduction of 25 basis points, with Fed funds futures indicating a striking 99.9% probability of this cut. However, investors are keen to hear whether any officials dissent and what insights Fed Chair Jerome Powell may offer during the press conference regarding future monetary policies. The October Fed Survey conducted by CNBC revealed concerns about the central bank's economic assessments, particularly in light of data being withheld due to the ongoing government shutdown. On another front, OpenAI has officially transitioned into a nonprofit organization, now known as the OpenAI Foundation. This new entity holds a controlling interest valued at approximately $130 billion in OpenAI’s for-profit division, identified as OpenAI Group PBC. Notably, Microsoft has significantly invested in this for-profit arm, with stakes amounting to $135 billion, which represents about 27% of the company on a diluted basis. Microsoft is also set to release its earnings report today, coinciding with announcements from other major tech firms like Alphabet and Meta. Meanwhile, the federal government shutdown has now reached its one-month mark, intensifying pressures in Washington. A coalition of over two dozen states has filed a lawsuit against the Trump administration to protect benefits associated with the Supplemental Nutrition Assistance Program (SNAP), which is under threat of discontinuation this weekend as stated by the Agriculture Department. Additionally, air traffic controller union representatives reported that many members are seeking secondary employment to cope with the financial strain of working without pay during the shutdown. In corporate news, Boeing's shares dipped slightly in premarket trading following the release of its third-quarter earnings report. While the aerospace giant achieved positive cash flow for the first time since 2023, it also recorded a staggering $4.9 billion charge related to delays in its 777X aircraft project. CEO Kelly Ortberg, who took over the company in 2024, acknowledged the ongoing challenges in development but noted encouraging signs of recovery in their operations.