Government data showed that G.D.P. rose at a 2 percent rate in the first quarter, better than initially reported.
Category: Commerce Department
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White House Reportedly Weighs New A.I. Export Limits
Shares in the semiconductor giants Nvidia and AMD fell on a report that the Biden Administration is weighing new restrictions on A.I.-related exports.
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China’s Cloud Computing Firms Raise Concern for U.S.
The Biden administration is exploring whether it can mount a campaign against Chinese tech giants like Alibaba and Huawei, potentially fueling tensions with Beijing.
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Saudi Arabia Cuts Oil Production to Boost Prices
Brent crude rose on Monday after the world’s biggest oil producer announced it would be the lone OPEC Plus member to cut production next month.
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Consumer Spending Rose More Than Expected in April
New data on spending and income suggest that the economy remains robust despite the Federal Reserve’s interest rate increases.
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Investors See Hope for a Debt Limit Deal
Stock and bond trading suggest that investors see an imminent deal to raise the debt limit and prevent the federal government from defaulting.
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JPMorgan’s Succession Plans for Jamie Dimon May Weigh on Investors
Revelations about rivals’ plans may prompt the bank’s shareholders to ask about who will replace Jamie Dimon at an annual investor gathering on Monday.