Troubles at Midwest oil refineries are driving gasoline prices sharply higher in
the central part of the country, and the regional shortages are expected to boost pump prices
The U.S. Treasury Department Friday lifted
sanctions against an Iraqi bank that had been barred from doing
business with American companies because it had close contacts to Iranian
The situation in debt-sodden Cyprus remains
critical despite the approval earlier this week of a three-year
International Monetary Fund said Friday.
The Conference Board's monthly projection of the U.S. economy's
direction rose in April, in the strongest increase since February 2012.
The Philadelphia Federal Reserve Bank said the bank's mid-Atlantic manufacturing
indexes dropped into negative territory in May, with its broadest index falling to minus 5.2.
Consumer prices in the U.S. dropped a
seasonally adjusted 0.4 percent in April from the previous month as
gasoline prices fell sharply, the government reported Thursday.
The U.S. Labor Department said first-time jobless benefits claims jumped by
32,000 to 360,000 in the week that ended Saturday.
Home flippers got a bad name during the housing boom, selling properties for big profits and stoking a feeding frenzy, but today's flippers are getting credit for helping the market recover.
Building permits across the U.S. for single-family homes rose 27 percent in
the first quarter year over year, according to RealtyTrac.
In April, Stockton became the nation's largest city to go into bankruptcy protection since the recession began five years ago.
That has triggered a guessing game over which hard-pressed cities might be
The International Monetary Fund approved a
three-year, $1.3 billion loan Wednesday to support Cyprus'
attempts to fix its economy.
Financial stocks led a charge into more new territory on Wednesday, with both the Dow Jones and Standard and Poor's 500 indexes marking record highs.
The producer price index for finished goods was down slightly in April, continuing a trend. Intermediate and crude goods also saw declines.
The rapid growth of U.S. oil production is transforming global markets
and easing supplies just as China and the rest of the developing world move to
overtake the developed world for the first time in consumption, the
International Energy Agency reported Tuesday.
The National Association of Home Builders said its index for builder confidence added three points to reach 44 over
a downwardly revised 41 point reading for April.