POWELL: DOESN'T FEEL LIKE A GOOD LABOR MARKET TO SOME BECAUSE LOW QUITS, LOW HIRES, NO NEW JOB CREATION

China has suspended issuing new licenses for Level 4 autonomous vehicles after dozens of Baidu Inc.’s Apollo Go robotaxis stalled in Wuhan last month, stranding passengers and disrupting traffic, according to people familiar with the matter. Regulators from the Ministry of Industry and Information Technology, Ministry of Public Security and Ministry of Transportation held a meeting with local officials and ordered self-reviews and stronger safety monitoring. The suspension prevents companies from expanding fleets, launching new pilots or entering new cities, with timing unclear. Apollo Go operations in Wuhan have also been halted during an investigation. Shares of Pony.ai and WeRide Inc. fell around 2%, while Baidu dropped up to 3.9% in Hong Kong trading.

WHITE HOUSE OFFICIAL: TRUMP MET ENERGY COMPANY EXECUTIVES TUESDAY, DISCUSSED DOMESTIC PRODUCTION, VENEZUELA, OIL FUTURES, NATURAL GAS, AND SHIPPING