Here are the AP's top business stories that have moved or are planned to move today. All times U.S. Eastern. For up-to-the minute information on AP's coverage, visit AP Newsroom's Coverage Plan.

AI chipmaker Nvidia is the first $5 trillion company

SUMMARY: Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier. The ravenous appetite for Nvidia's chips is the main reason that the company's stock price has increased so rapidly since early 2023. On Wednesday the shares touched $207.86 in early morning trading with 24.3 billion shares outstanding, putting its market cap at $5.05 trillion. Nvidia CEO Jensen Huang was heading to South Korea this week as leaders from major Pacific Rim economies, including the United States, China and Japan, are gathering for the annual Asia-Pacific Economic Cooperation summit.

WORDS: 498 - MOVED: 10/29/2025 7:39 a.m. EDT

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US stocks rise toward records as Wall Street waits for an announcement from the Federal Reserve

SUMMARY: U.S. stocks are hanging around their records as Wall Street waits to hear from the Federal Reserve about interest rates. The S&P 500 rose 0.3% Wednesday. The Dow Jones Industrial Average added 193 points, and the Nasdaq composite gained 0.7%. All three indexes are coming off all-time highs. Caterpillar helped lead the market after reporting a better profit for the summer than analysts expected. The bond market was also relatively still as the countdown ticked to the Fed's afternoon announcement. The focus will be on if it gives any hints about whether more cuts to interest rates will come later this year and next.

WORDS: 644 - MOVED: 10/29/2025 2:20 a.m. EDT

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CVS Health tops Q3 forecasts but absorbs hefty charge for struggling clinic business

SUMMARY: CVS Health rode double-digit sales growth from drugstores and its pharmacy benefits management business to a better-than-expected third quarter. The health care giant also hiked its 2025 forecast well above Wall Street estimates. But it booked a nearly $6-billion charge for scaling back its Oak Street Health clinic business. Overall, the company said Wednesday that it lost nearly $4 billion in the third quarter counting that charge. Total revenue grew almost 8% to $102.9 billion. Adjusted earnings came in at $1.60 per share. FactSet says analysts expect earnings of $1.37 per share on $98.81 billion in revenue.

WORDS: 222 - MOVED: 10/29/2025 8:12 a.m. EDT

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Uber plans to offer autonomous taxi rides in San Francisco starting next year

SUMMARY: Uber said Wednesday that the San Francisco Bay Area will be the first market for its specially built autonomous taxi, which is expected to launch in late 2026. The San Francisco-based ride-hailing company said in July it was developing a robotaxi with the electric car company Lucid and the self-driving technology company Nuro Inc. Uber said it plans to have 100 test vehicles on the road in the coming months. Within six years, Uber plans to deploy 20,000 or more Lucid-based autonomous taxis in multiple locations. The vehicles will be owned and operated by Uber and available to riders through the Uber app.

WORDS: 298 - MOVED: 10/29/2025 8:05 a.m. EDT

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Missing government data unlikely to sway Federal Reserve from rate-cut path

SUMMARY: The Federal Reserve is expected to cut its short-term rate Wednesday for the second time this year despite an increasingly cloudy view of the economy it is trying to influence. The data drought raises risks for the Fed because it is widely expected to keep cutting rates in an effort to shore up growth and hiring. Yet should job gains pick up soon, the Fed may not detect the change. And if hiring rebounds after weak job gains during the summer, further rate cuts may not be justified.

WORDS: 750 - MOVED: 10/28/2025 5:13 p.m. EDT

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Edmunds compares the new BMW X3 and Mercedes-Benz GLC

SUMMARY: Compact luxury crossovers have become the chariot of choice for those seeking an effective blend of utility and style in an efficient package that won't break the bank. The BMW X3 has been a longtime favorite in the segment, but it faces stiff competition from the likes of Mercedes-Benz and its GLC SUV. Edmunds' experts compare the two upscale sport-utility vehicles to determine which is the better buy.

WORDS: 870 - MOVED: 10/29/2025 6:20 a.m. EDT

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How to help those impacted by Hurricane Melissa

SUMMARY: Hurricane Melissa has made landfall in Jamaica as a Category 5 storm, tying for the strongest landfalling Atlantic hurricane in history. Relief organizations are mobilizing to help across the Caribbean. Experts recommend cash donations to trusted charities, as unsolicited goods can overwhelm systems. United Way of Jamaica, CORE, and Footprint Project are providing immediate relief and support. Airlink is transporting cargo for relief groups, while Direct Relief is delivering medical aid. Good360 is connecting surplus supplies with nonprofits, and the Center for Disaster Philanthropy focuses on long-term recovery. Donations are crucial to support these efforts.

WORDS: 746 - MOVED: 10/28/2025 9:06 p.m. EDT

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Trump administration moves to overrule state laws protecting credit reports from medical debt

SUMMARY: The Trump administration is moving to overrule state laws that protect consumers' credit reports from medical debt. The Consumer Financial Protection Bureau has drafted an interpretative rule related to the Fair Credit Reporting Act. This rule suggests that the FCRA should preempt state laws on debt reporting to credit bureaus like Experian, Equifax, and Trans Union. This repeals Biden-era regulations allowing states to implement their own credit reporting bans. More than a dozen states, including New York and Delaware, prohibit reporting medical debt on credit reports. The Kaiser Family Foundation estimates Americans owe roughly $220 billion in medical debt.

WORDS: 360 - MOVED: 10/28/2025 5:42 p.m. EDT

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MacKenzie Scott gives $60 million to the Center for Disaster Philanthropy

SUMMARY: MacKenzie Scott has donated $60 million to the Center for Disaster Philanthropy. The nonprofit announced the gift on Tuesday, calling it a transformative investment. This donation is one of Scott's largest to a nonprofit and the biggest the center has ever received. The funds will help communities better prepare for and recover from disasters. Scott, who gained her wealth through Amazon shares after her divorce from Jeff Bezos, has donated over $19 billion since 2019. Her donations often come without restrictions, allowing nonprofits to use the funds as needed.

WORDS: 800 - MOVED: 10/28/2025 5:52 p.m. EDT

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PayPal and UPS help lead US stocks to more records

SUMMARY: The U.S. stock market pushed further into record heights. The S&P 500 rose 0.2% Tuesday. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite gained 0.8%. All three indexes set an all-time high for the third straight day. Gains for UPS and PayPal following strong profit reports helped offset losses for Royal Caribbean and D.R. Horton. Moves were relatively modest in the bond market ahead of a few events that could shake things up. That includes Wednesday's decision on interest rates by the Federal Reserve. Gold's price continued to struggle following what's been a stellar year.

WORDS: 809 - MOVED: 10/28/2025 12:10 a.m. EDT

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OpenAI may move forward with new business structure, partnership with Microsoft, regulators say

SUMMARY: OpenAI said it has reorganized its ownership structure and converted its business into a public benefit corporation. Two crucial regulators, the California and Delaware attorneys general said they would not oppose the changes. The new structure could allow the ChatGPT maker to raise money and profit more easily from its AI technology while remaining under nonprofit control. On Tuesday, the company also announced a new agreement with Microsoft, giving the tech giant a roughly 27% stake in OpenAI's for-profit corporation. For over a year, OpenAI's proposed changes have drawn scrutiny from regulators and advocates concerned about AI's societal impacts.

WORDS: 1084 - MOVED: 10/28/2025 10:20 a.m. EDT

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Amazon cuts 14,000 corporate jobs as spending on artificial intelligence accelerates

SUMMARY: Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence. "The reductions we're sharing today are a continuation of this work to get even stronger by further reducing bureaucracy, removing layers, and shifting resources to ensure we're investing in our biggest bets and what matters most to our customers' current and future needs," Beth Galetti, Senior Vice President of People Experience and Technology at Amazon, said in message to employees Tuesday. Teams and individuals impacted by the job cuts will be notified on Tuesday.

WORDS: 749 - MOVED: 10/28/2025 6:07 a.m. EDT

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Consumer confidence dips modestly in October with Americans concerned about the future

SUMMARY: Consumer confidence weakened slightly in October as Americans remain anxious about their future financial prospects. The Conference Board said Tuesday that its consumer confidence index fell by 1 point to 94.6 in October from an upwardly revised September reading of 95.6. Analysts were expecting the reading to come in unchanged from the previous month. One year ago, the reading was 109.5. A measure of Americans' short-term expectations for their income, business conditions and the job market dipped by 2.9 points to 71.5, remaining well below 80, the marker that can signal a recession ahead. However, consumers' assessments of their current economic situation rose 1.8 points to 129.3.

WORDS: 626 - MOVED: 10/28/2025 10:12 a.m. EDT

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The stock market is breaking records. Time for a gut check

SUMMARY: Almost everything in your 401(k) should be coming up a winner now. That makes it time for a gut check. Many professionals along Wall Street are forecasting that the U.S. stock market will keep rising. But the threat of a sharp drop remains, as it always does. That leaves investors with the luxury now, while prices are high, to reassess. Don't get lulled into leaving your 401(k) on autopilot, unless you're intentionally doing so, and make sure your portfolio isn't stuffed with too much risk.

WORDS: 1562 - MOVED: 10/28/2025 1:25 p.m. EDT

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Apple suppliers Qorvo and Skyworks will merge to create a chipmaker worth $22 billion

SUMMARY: Skyworks Solutions and Qorvo are merging in a cash-and-stock deal with an enterprise value of $22 billion. Qorvo shareholders will receive $32.50 in cash and .96 of a Skyworks common share for each Qorvo share held at the close of the transaction, which is expected in early 2027, pending shareholder and regulatory approvals. Activist investor Starboard Value, which owns about 8% of Qorvo, has already signed off on the deal. Skyworks shareholders will own roughly 63% of the combined company, with Qorvo shareholders owning the remaining 37%. Shares of both companies climbed more than 11% by midday.

WORDS: 269 - MOVED: 10/28/2025 12:57 p.m. EDT

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UPS cuts 48,000 jobs in the year to date as its turnaround continues

SUMMARY: United Parcel Service posted third-quarter results that handily beat Wall Street's expectations and gave details about its turnaround efforts, including approximately 48,000 job cuts. UPS said in a regulatory filing that it has cut about 34,000 operational positions and closed daily operations at 93 leased and owned buildings during the first nine months of this year as part of its turnaround plan. The company also announced approximately 14,000 job cuts, mostly within management. It said that it is still looking to identify additional buildings to close.

WORDS: 341 - MOVED: 10/28/2025 9:15 a.m. EDT

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UnitedHealth tops 3Q forecasts as it resets coverage prices to deal with rising costs

SUMMARY: UnitedHealth has returned to better-than-expected growth after starting the year swamped by medical costs and withdrawing its forecast for 2025. Leaders of the health care giant say care use is now climbing at rates they expected, and the company envisions annual growth next year that accelerates in 2027. In the meantime, UnitedHealth is resetting health insurance prices and trimming unprofitable parts of that business. That includes a drop in individual health insurance enrollment and losing about 1 million customers from its Medicare Advantage business. That involves privately run versions of the government's coverage program mainly for people age 65 and over.

WORDS: 470 - MOVED: 10/28/2025 10:49 a.m. EDT

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