The Latest Breaking News from Commerce Department

Record high prices boosted gasoline sales, but the extra cash needed to fill American tanks was pulled from discretionary spending in the world's biggest economy.

Stock futures edge lower with inflation in focus; Peak inflation debate may not be decided in complex CPI data; DocuSign shares crumble after Q2 earnings miss, muted outlook; AMD shares gain on robust near-term outlook for chip sector and Stitch Fix shares slump after Q3 loss, job cuts

Solar developers say an ongoing trade enforcement probe has stalled new projects.

The White House says a Commerce Department investigation of solar-energy components from China will continue, but stops tariffs for two years.

"While macroeconomic pressures on consumer spending increased during the quarter, our customers continued to shop," said CEO Jeff Gennette.

"At this point, we have not seen inflationary cost pressures adversely impact customer spending, which we believe is due to the higher income profile and resiliency of our customer base," said CFO Anne Bramman.

President Biden, on a trip to Tokyo, lays out an economic framework for the US and 12 other countries to counter China's influence.

President Joe Biden faced a dilemma on trade in Asia: He couldn’t just rejoin the Trans-Pacific Partnership that his predecessor had pulled the U.S. out of in 2017

"In terms of trade-down, the best proxy we would have, although every recession is different, would be 2008," said group president Michael Hartshorn.