It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintaneda. Jim Kramer's back at Post 9. David Fabry at Post 9 of the New York Stock Exchange. Future is fairly stable. Investors processing a wave of consumer-related earnings today. The government shutdown really starting to bite into travel.

Challenger layoff data shows the biggest number of layoffs for any October in more than 20 years, 10-year 411.

Our roadmap begins with the government shutdown starting to hit the airlines in a very real way.

The FAA cutting flights by 10% at 40 major airports.

Plus, NVIDI's CEO, Jensen Wong, softening his remarks that China will win the AI race,

comparing China's pro-industry energy subsidies with what he described as excessive Western

regulation.

It's also a crucial moment for Elon Musk and Tesla shareholders today.

The vote on his trillion dollar pay package, at least what could be a trillion dollar pay package,

that will be revealed at the company's annual meeting a bit later.

Let's begin with the shutdown's impact on air travel this morning.

The Transportation Secretary and FAA officials announcing this 10% reduction in air traffic

at 40 of the nation's busiest airports.

They say the cuts, which would go into effect tomorrow, part of an effort to ease pressure on air traffic controllers,

who, of course, will miss another paycheck next week due to the shutdown.

Jim, if the shutdown goes to 50 days, you're starting to run into Thanksgiving.

Absolutely.

Remember, in February 6th of 2019, the government shutdown ended after only

10 air traffic controllers stayed home. Just 10. The flight delays were considered to be ridiculously

long, and the Congress people started complaining. So, David, I know this may be bold.

I'm listening. I'm listening. I got a lot going on.

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