Southwest Airlines is revamping its Rapid Rewards loyalty program and elite status tiers amid a major transformation at America's fourth-largest airline.

In September, US wholesale prices rose sharply by 1.3%, fueled by a significant increase in gasoline costs, marking the biggest monthly gain since March 2022. The Producer Price Index saw a 6.3% year-over-year rise, indicating broader inflation pressures across goods and services. Learn more about the impact on the economy and Federal Reserve interest rate decisions.

TSMC beat estimates for the third quarter and guided above views for the current period. But TSM stock fell after the report.

Wholesale inflation rose more quickly than expected last month on a big jump in fuel costs, a sign that stubbornly rising prices remain an economic challenge for consumers and a political problem for Republicans in the midterm elections

The U.S. Federal Trade Commission issued civil subpoenas to OpenAI and Anthropic on Wednesday, seeking internal records on safety incidents, security measures and privacy policies. The move escalates a consumer-protection investigation and could ultimately lead to lawsuits against the two AI developers.