Shutdown repercussions, OpenAI’s shopping chatbot, Coach coffee shops and more in Morning Squawk

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Here are five key things investors need to know to start the trading day:

Democrats and Republicans have until midnight to agree on a funding deal and avoid a federal shutdown, but it’s not looking promising. After a meeting yesterday between President Donald Trump and top lawmakers, Vice President JD Vance said the U.S. is “headed to a shutdown,” dashing hopes for an 11th-hour agreement. A shutdown could have significant implications for economic data closely monitored by economists, investors and policymakers.

Here’s the rundown:

• The Labor Department said it would not release Friday’s key jobs report — as well as Thursday’s weekly jobless claims stats and other expected economic data — if the government is shut down.
• Data collection activities would also be suspended during the shutdown, which could delay future releases.
• Not having these numbers would be curveball for the Federal Reserve, which has said it is increasingly focused on the health of the labor market.
• House Speaker Mike Johnson, House Minority Leader Hakeem Jeffries and Senate Majority Leader John Thune will all join CNBC’s “Squawk Box” in the next hour. Click here to watch CNBC live.
• Despite shutdown-related concerns, the stock market rose in yesterday’s session, setting Wall Street up for a strong September. Follow live market updates here.

OpenAI unveiled Instant Checkout yesterday, which allows users to buy products through its ChatGPT chatbot. The program will initially work for single-item purchases from U.S. sellers on Etsy, whose shares surged nearly 16% yesterday following the announcement. OpenAI said it’s also working to bring the feature to more than one million Shopify merchants, such as Skims and Glossier.

Meanwhile, Amazon-backed startup Anthropic announced its latest artificial intelligence model called Claude Sonnet 4.5. Jared Kaplan, Anthropic co-founder and chief science officer, told CNBC’s Ashley Capoot that the model is “more of a colleague” and “fun to work with.”

Wealthfront is the latest fintech company trying to get a piece of the public market. The company publicly filed for an IPO yesterday, following in the footsteps of Chime and Klarna. The company, which is known for its robo-advisor automated investing, plans to list on Nasdaq under the ticker symbol “WLTH.”

While we’re on the topic of finance and tech, don’t miss this feature on JPMorgan Chase’s push to become the first megabank fully powered by AI. Derek Waldron, the bank’s chief data analytics officer, told CNBC’s Hugh Son that the financial institution is being “fundamentally rewired” for the AI era.

Following launch events from Apple and Meta in recent weeks, it’s now Amazon’s time to flaunt its new products.

Earlier this year, CEO Andy Jassy said a “brand new lineup of devices” compatible with Alexa+ would be coming this fall. Event invites offered clues for what could be in store, showing what looked like an Echo smart speaker, Fire TV, Ring doorbell button and Kindle.

Amazon’s event is expected to start at 10 a.m. ET. Here’s everything you need to know before it begins.

Coach is getting into the coffee business. Yes, that Coach.

The Tapestry-owned handbag maker is opening coffee shops attached to some of its official stores, with the fourth location of The Coach Coffee Shop set to open on Friday. Coach said it plans to open 12 to 15 per year around the world.

Coach is taking a page out of the books of Ralph Lauren and RH, which have both opened restaurants. Coach CEO Todd Kahn also pointed to younger consumers’ love of experiences when explaining the move.