The U.S. economy grew at a 3.8% annual rate in the second quarter, its fastest pace since the third quarter of 2023 and above the long-term trend.
That marked a sharp rebound from the first quarter’s 0.5% contraction, when tariff fears curbed business activity. The acceleration contrasts with softer summer labor readings that signaled some cooling.
With days left in the fiscal year and no full-year funding or stopgap deal, the government could shut down at 12:01 a.m. Oct. 1, stalling services, furloughing workers and weighing on growth.
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Still, jobless claims late in the week came in far below expectations, suggesting layoffs remain limited and the labor market resilient despite Federal Reserve concerns.
Earnings
Accenture plc (NYSE: ACN) reported fourth-quarter revenue of $17.6 billion, topping expectations, with bookings rising 3% to $21.3 billion.
The company issued fiscal 2026 guidance in line with forecasts but announced another restructuring to fund AI-related investments.
Micron Technology, Inc. (NASDAQ: MU) reported fourth-quarter revenue of $11.32 billion, beating analyst estimates of $11.22 billion.
BlackBerry Limited (NYSE: BB) reported second-quarter earnings of $0.04 per share, which beat the analyst consensus estimate of $0.01.
Costco Wholesale Corporation (NASDAQ: COST) reported fourth-quarter revenue of $86.16 billion, beating analyst estimates of $86.12 billion.
Technology
Microsoft Corporation (NASDAQ: MSFT) suspended specific services used by an Israeli military unit, following a media investigation that uncovered the unit’s reported mass surveillance of Palestinian phone calls.
Meta Platforms (NASDAQ: META) is broadening access to its Llama AI models for key U.S. allies, aiming to enhance national security, operational efficiency, and mission-specific capabilities.
The European Commission approved a joint venture between Meta Platforms and Reliance Industries Limited of India, under the EU Merger Regulation.
In the wake of recent Federal Trade Commission (FTC) scrutiny, an internal document from Meta Platforms has surfaced, shedding light on the social media giant’s strategy for managing child exploitation through its AI chatbot.
Electronic Arts, Inc. (NASDAQ: EA) is close to finalizing a plan to go private in what could become the largest leveraged buyout ever.
Boeing Co. (NYSE: BA) has announced a strategic partnership with Palantir Technologies Inc. (NASDAQ: PLTR) to integrate the latter’s AI solutions platform across Boeing’s defense and space unit.
Alibaba Group (NYSE: BABA) is deepening its artificial intelligence ambitions by integrating Nvidia’s (NASDAQ: NVDA) suite of “physical AI” development tools into its cloud platform, a move that strengthens ties between two of the most influential players in global AI.
PayPal Holdings, Inc. (NASDAQ: PYPL) and alternative asset manager Blue Owl Capital Inc. (NYSE: OWL) announced a two-year agreement on Wednesday under which funds managed by Blue Owl will purchase approximately $7 billion of buy now, pay later (BNPL) receivables originated by PayPal in the U.S.
Intel Corporation (NASDAQ: INTC) CEO Lip-Bu Tan reached out to Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) as well. Intel has reached out to Apple, Inc. (NASDAQ: AAPL) and TSMC about potential collaborations.
Taiwan Semiconductor plans to break ground on a new 1.4-nanometer fabrication plant in Taichung next quarter.
Cipher Mining Inc. (NASDAQ: CIFR) secured a 10-year colocation agreement with Fluidstack valued at roughly $3 billion, positioning itself as a major player in high-performance computing data centers. The deal also brings in Alphabet Inc. (NASDAQ: GOOGL) as a financial backer, underscoring growing demand for AI-driven infrastructure.
Comcast Corporation (NASDAQ: CMCSA) announced on Friday that it is expanding the use of artificial intelligence in its broadband infrastructure to create what it calls the nation’s smartest network.
Artificial Intelligence
OpenAI CEO Sam Altman says that artificial intelligence (AI) is likely to replace 40% of work tasks “in the not very distant future.”
NVIDIA Corporation’s (NASDAQ: NVDA) recent investment in OpenAI has sparked investor concerns that the startup might buy Nvidia chips, creating a “circular” investment loop and raising questions about the move’s rationale and potential impact on Nvidia’s stock.
Automobile
Lucid Group, Inc (NASDAQ: LCID) tweeted that it delivered the first Uber Technologies (NYSE: UBER)-exclusive robotaxi engineering vehicle to Nuro for integration with the Nuro Driver.
Ford Motor Company (NYSE: F) has issued a recall for the F-250, F-350 and F-450 lines of its pickup trucks over a defect that can lead to steering issues.
Tesla, Inc. (NASDAQ: TSLA) has secured a patent that will reportedly be used in the production of the Elon Musk-led EV giant’s upcoming Cybercab.
Tesla’s sales in the Chinese market have continued their growth trajectory with the latest data released for the third week of September.
Pony AI Inc. (NASDAQ: PONY) received a permit from Dubai’s Roads and Transport Authority (RTA) to begin autonomous driving trials in the emirate, as the firm moves closer to a commercial launch in the Middle East.
Alphabet’s autonomous taxi service Waymo has introduced a fleet of Robotaxis targeting universities, businesses and private events as the self-driving race heats up.
Amazon.com, Inc.’s Zoox, has requested broader clearance from U.S. regulators to deploy robotaxis without traditional driving controls, signaling its push toward a commercial rollout.
Li Auto Inc. (NASDAQ: LI) officially launched the Li i6, a five-seat battery electric sport utility vehicle.
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