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Major restructuring: Verizon (VZ) will undertake its largest round of layoffs next week, as its new CEO aggressively cuts costs and works to reverse customer losses.

On the Hill: This is one of the changes that President Trump would like to see made to Obamacare. Separately, the newly signed federal funding package will outlaw hemp THC products.

Next stop, Mars: Jeff Bezos' Blue Origin (BORGN) launched NASA's landmark Mars mission with its New Glenn rocket, and successfully recovered its booster for the first time.

Easing prices The Trump administration plans to remove tariffs on certain goods from four Latin American countries that are not produced in the U.S. The planned tariff relief aims to address high food prices and reduce grocery bills for consumers at home.

The details: The White House announced agreements with Ecuador, Argentina, Guatemala and El Salvador to deepen bilateral trade and investment. The four countries agreed to address a range of non-tariff barriers for U.S. goods and businesses. Notably, Argentina opened its market to live cattle from the U.S. and committed to allow market access for U.S. poultry within a year. "The deals will help U.S. farmers, ranchers, fishermen, small businesses, and manufacturers to increase U.S. exports to and expand business opportunities with these trading partners," the White House declared.

In return, bananas, coffee, beef, cocoa, and certain textile products imported from these countries will be exempt from tariffs, a senior U.S. official told reporters. U.S. tariff rates on other imports from these nations remain the same - 15% for Ecuador; and 10% for Argentina, Guatemala and El Salvador. The deals are expected to be signed within roughly two weeks. The White House expects U.S. retailers and wholesalers to pass on any benefits to American consumers.

Bigger picture: "Heightened political concerns about U.S. consumers' inflation perceptions seem to be leading a drive to reduce the tariffs U.S. importers pay on food products," said Paul Donovan, UBS' chief economist. "U.S. consumers' belief that they pay for tariffs is likely to be reinforced by this stance." According to CPI data, banana prices rose about 8% on average from January to September, while coffee got 15% more expensive. U.S. beef prices hit record levels due to long-term droughts, high feed costs, smaller herds, and strong beef demand. (3 comments)

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What else is happening...

Comcast, Netflix (NFLX) prepare bids for Warner Bros. (WBD).

Bitcoin (BTC-USD) drops below $100K as market selloff intensifies.

Fed's Kashkari did not back last rate cut, undecided on December.

October jobs report won't have unemployment rate, Hassett says.

Ackman to host livestream to discuss Fannie, Freddie proposal.

Robinhood (HOOD), Gopuff partner for new cash-delivery service.

Anavex (AVXL) tanks after Martin Shkreli says it's his next short.

Gilead (GILD) hits late-stage trial win for new one-pill HIV therapy.

Tariffs, not the Grinch, might steal Christmas: Trees to get costlier.

A slice of history: Yum! (YUM) puts Pizza Hut on the sales block.

Today's Markets

In Asia, Japan -1.8%. Hong Kong -1.9%. China -1%. India +0.1%. In Europe, at midday, London -1.9%. Paris -1.5%. Frankfurt -1.6%. Futures at 7:00, Dow -0.6%. S&P -0.8%. Nasdaq -1.2%. Crude +2% to $59.86. Gold -1% to $4,153.10. Bitcoin -6.6% to $96,123. Ten-year Treasury Yield unchanged at 4.13%.

On The Calendar

Companies reporting today include Quantum Computing (QUBT) and Bit Digital (BTBT).