Reuters - Stocks rose modestly on Thursday after two days of steep declines as energy prices pulled back from record highs and a proposed acquisition in the utilities sector buoyed optimism.

AP - Fast-rising gas prices claimed their latest victim Thursday: Ford Motor Co., which dropped its goal of becoming profitable by 2009 and said it will cut production of trucks and sport utility vehicles through the rest of this year. It was a warning shot to the rest of the beleaguered U.S. auto industry, which is facing its worst sales in more than a decade.

Reuters - U.S. home prices fell a record 1.7 percent in the first quarter and the number of workers on jobless benefit rolls held at a four-year high, underscoring the economy's woes, data on Thursday showed.

AP - Wall Street rebounded moderately Thursday after two sessions of steep declines brought by the surging price of oil.

Reuters - Stocks were mostly flat on Thursday as the price of oil weighed on sentiment as it hit another record high before retreating, offsetting gains by financial company shares.

AP - The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month.

AP - Ford Motor Co. is cutting North American production of pickups and SUVs as car buyers eyeing record gas prices turn toward more fuel-efficient models. The automaker says it no longer expects to return to profitability by 2009 and didn't rule out layoffs and plant closures.

Reuters - Home prices fell a record 1.7 percent in the first quarter and the number of workers on jobless benefit rolls held at a four-year high, underscoring the economy's woes, data on Thursday showed.

AP - With gasoline climbing toward $4 a gallon, police officers around the country are losing the right to take their patrol cars home and are being forced to double up in cruisers and walk the beat more.

Reuters - The lifestyles of the rich may be set for a downgrade as the U.S. economic malaise works its way up the income ladder, according to a survey released on Wednesday.

Reuters - The U.S. economy continues to slow and risks are to the downside, but a $152 billion stimulus package that includes tax rebates should provide support and lead to more jobs, Deputy Treasury Secretary Robert Kimmitt said on Wednesday.

AP - Federal Reserve officials strongly suggested they won't be inclined to cut interest rates further even as they sharply downgraded their forecast for economic growth this year, citing damage from a housing slump, credit crunch and galloping energy prices.