Top Overnight News American companies are once again beating profit expectations, but this time around they aren’t banking on blockbuster consumer spending to make it happen. Instead, the latest batch of quarterly earnings are getting a lift from managers who are squeezing out costs, boosting productivity and turning to new technologies. WSJ Treasury Secretary Scott Bessent is planning to start a blitz of interviews on Friday in search of a candidate to be the next chair of the Federal Reserve, according to people familiar with the matter. The interview process would continue next week. There are 11 contenders, including Kevin Hassett, Kevin Warsh, and Fed governors Christopher Waller and Michelle Bowman. WSJ US admin officials reportedly want to fund federal agencies until the first quarter of 2026: "This would avoid repeated shutdown deadline dramas. Yet it also opens the door to a year-long continuing resolution”: Punchbowl Holiday spending by US consumers is set to tumble 5.3% Y/Y, the steepest decline since the pandemic. RTRS FTC commissioner Rebecca Kelly Slaughter reinstated to her role by an appeals court decision after being fired by Trump, a decision that could have implications for the White House’s Fed fight. NYT The September rise in long-end yields is partly driven by heavy corporate issuance, Pimco said. Natixis warned that a rate cut amid high inflation risks steepening the curve. BBG Xi Jinping showcased China’s military and diplomatic clout at a parade with Russia’s Vladimir Putin and North Korea’s Kim Jong Un — their first joint public appearance. Xi vowed to build a “world-class military” to ensure China stands “self-reliant and strong.” BBG China’s services activity expanded at the fastest pace in over a year in August, a private survey showed, driven by increased tourism. BBG Australia’s GDP growth advanced 0.6% in the second quarter, beating forecasts and bolstering the case for the RBA to hold rates. BBG Alphabet shares jumped premarket after a judge ruled Google can retain control of Chrome though it must share some search data with rivals. Apple also rose as it will continue receiving more than 20 billion a year for default search rights. GOOGL +6.48% premkt, AAPL +3.4% premkt. BBG(zerohedge)