General Motors reported July sales of 199,692 vehicles, a 5.4 percent increase from a year earlier. Excluding four brands that have been discontinued or sold, July sales rose 25 percent.
BP said it could begin Tuesday the "static kill," one of two efforts planned to plug the well that poured an estimated 206 million gallons of crude into the gulf when an explosion on the Deepwater Horizon rig ruptured the well, killing 11 workers.
The U.S. Commerce Department said consumer spending and incomes were virtually flat in June, a sharp indication that the economic recovery was stalled during that month.
The Institute for Supply Management, a watchdog charged with monitoring manufacturing output, has released its index for July. The 55.5 number indicates positive growth, but is down slightly from 56.2 in July.
President Barack Obama Friday said helping the auto industry was the right thing to do and that belief has been "vindicated." Obama traveled to Detroit and sat in a new Jeep Cherokee before addressing Chrysler workers Chrysler Jefferson North Assembly Plant.
In an unusual move, the president of the Federal Reserve Bank of St. Louis released a paper Thursday warning that the Fed's policy of keeping interest rates near zero during the economic crisis may lead to Japanese-like deflation in coming years.