Latest U.S. Department of Commerce News
Stock market today: Wall Street climbs as S&P 500 closes out fourth straight winning month
Stocks on Wall Street finished broadly higher Friday as the market closed out its fourth straight winning month with solid gains. A late-afternoon rally helped stocks bounce back from a midafternoon slide. The S&P 500 rose 1%, with about 76% of the stocks in the index notching...
Stock market today: Wall Street sees mixed results after late-day selling, drop for Nvidia
A late-afternoon slide by some Big Tech companies cut into Wall Street’s gains Thursday, leading to a mixed finish for U.S. stock indexes. The S&P 500 ended flat after giving up an earlier gain of nearly 1%. The benchmark index is about 1.3% away from its record set in July. ...
US economic growth for last quarter is revised up to a solid 3% annual rate
WASHINGTON (AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s...
This week: Consumer confidence; 2nd quarter GDP growth; consumer price inflation
A look at some of the key business events and economic indicators upcoming this week. Confidence boost The Conference Board issues its monthly index of U.S. consumer confidence Tuesday. Economists expect the August reading rose to 101.8. A reading of 90...
China will limit exports of antimony, a mineral used in products from batteries to weapons
BEIJING (AP) — China's Commerce Ministry announced Thursday that it will restrict exports of a mineral used in a wide range of products from batteries to weapons. Export controls will be placed on antimony starting Sept. 15 to safeguard China's security and interests and fulfill...
This Week: Consumer price index, retail sales, housing starts
A look at some of the key business events and economic indicators upcoming this week. TRACKING INFLATION The Labor Department releases Wednesday its monthly gauge of inflation at the consumer level. Economists predict the consumer price index rose 3% in...
White House says no need to restrict 'open-source' artificial intelligence — at least for now
The White House is coming out in favor of “open-source” artificial intelligence technology, arguing in a report Tuesday that there's no need right now for restrictions on companies making key components of their powerful AI systems widely available. “We recognize the...
This Week: Existing home sales, quarterly GDP estimate, consumer spending data
A look at some of the key business events and economic indicators upcoming this week HOUSING BAROMETER Economists project that the nation’s home sales slump deepened in June for the fourth straight month. The National Association of Realtors is...
Money from Washington's landmark climate law will help tribes face rising seas, climate change
SEATTLE (AP) — Tens of millions of dollars raised by a landmark climate law in Washington state will go to Native American tribes that are at risk from climate change and rising sea levels to help them move to higher ground, install solar panels, buy electric vehicles and restore wetlands, Gov....
Kaspersky will shutter US operations after software is banned by Commerce Department, citing risk
NEW YORK (AP) — Cybersecurity firm Kaspersky says it's shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company's software in the country. Kaspersky will “gradually wind down” its U.S. operations starting...
