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March trade deficit drops by bigger-than-expected amount
(AP)
AP - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy's few bright spots this year.
Gas jumps above $3.67, oil passes $126 on Venezuela concerns
(AP)
AP - Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.
Mortgage credit losses could total $500 bln: Goldman
(Reuters)
Reuters - Goldman Sachs economists expect a
total of $500 billion in residential mortgage credit losses, a
renewed slowdown in economic activity after the near-term boost
from fiscal stimulus, and no monetary policy tightening in 2008
or 2009, according to a research note from the firm.
March trade gap narrows on record import drop
(Reuters)
Reuters - A record drop in U.S. imports
because of slowing domestic demand took a big bite out of the
U.S. trade deficit in March despite record high oil prices.
U.S. economic anxiety hits women harder: study
(Reuters)
Reuters - The U.S. economic downturn has spread
personal financial worries far and wide, but women are more
worried about paying bills, losing jobs, providing for children
and saving for retirement, according to a study released on
Thursday.
More shoppers seeking shelter from economy in discounters
(AP)
AP - Caught in the maelstrom of higher gas and food prices, Americans — even more affluent ones — are seeking shelter in wholesale clubs and discount apparel chains.
Retail Sales In April Top Views Despite Drags On Consumer
(Investor's Business Daily)
Investor's Business Daily - After a dismal March, retailers rang up solid sales last month, with most topping views as shoppers grabbed bargains and snapped up warm-weather goods.
Will love of mom overcome economy worries on Mother's Day?
(AP)
AP - It's a few days before Mother's Day and Robert Jenkins jumps every time the phone rings.
Greenspan says worst of credit crisis over: sources
(Reuters)
Reuters - Former Federal Reserve Chairman Alan
Greenspan said on Thursday that the worst of the credit crisis
is over, according to sources who attended a speech he
delivered in New York.
Rates on 30-year mortgages edge down slightly
(AP)
AP - Rates on 30-year mortgages edged down slightly this week, but remained above 6 percent for the third straight week.
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