NEW YORK (AP) — Stocks are surging in early trading on Wall Street after Chinese President Xi Jinping (shee jihn-peeng) offered possible concessions in a trade dispute with the U.S. Automakers and technology stocks rose sharply after the Chinese leader said he would cut China's auto tariffs and improve intellectual property protection. The Dow Jones industrial average has been up more than 475 points and the Nasdaq has gained more than 100.

WASHINGTON (AP) — The government says wholesale prices increased 0.3 percent in March, driven higher by the largest increase in food costs in nearly four years. The rise in the producer price index follows a 0.2 percent rise in February and a 0.4 percent jump in January. Food prices at the wholesale level surged 2.2 percent, the biggest increase since April 2014. Energy costs fell 2.1 percent as gasoline prices dropped 3.7 percent, the largest monthly decline since last May.

WASHINGTON (AP) — Facebook has begun notifying some users that their data was swept up in the Cambridge Analytica privacy scandal. An alert that appeared on Facebook for some users today told them that "one of your friends" used Facebook to log into a now-banned personality quiz app called "This Is Your Digital Life." The notice says the app misused the information by sharing it with the data-mining firm Cambridge Analytica. As many as 87 million users who might have had their data shared are supposed to get a detailed message on their news feeds.

BERLIN (AP) — A Swiss reinsurance company says insured losses worldwide from disasters reached a record $144 billion last year. An annual study released by the company (Swiss Re) says total losses from natural and man-made disasters hit $337 billion in 2017 — twice as high as the year before and second only to 2011. Much of the economic damage was caused by hurricanes Harvey, Irma and Maria that struck the Caribbean and the United States last year. Wildfires also caused significant economic damage.

WASHINGTON (AP) — An investigation by Democrats on a Senate oversight committee finds the Federal Emergency Management Agency awarded contracts for hurricane supplies without adequately researching whether winning bidders could deliver what they promised. The investigation followed disclosures by The Associated Press that a newly created Florida company with an unproven record had won more than $30 million in FEMA contracts but never delivered supplies after Hurricane Maria damaged homes in Puerto Rico.