AP - President Bush, sounding upbeat as consumer confidence swooned, said Tuesday that the government's effort to stimulate the economy is just starting to kick in.
AFP - Americans are becoming increasingly worried about the struggling US economy as home sales remain stuck in a rut and as red hot oil prices stoke inflation fears, a flurry of reports showed on Tuesday.
AFP - A recession in the United States remains a probability, former Federal Reserve chairman Alan Greenspan said in an interview published on Tuesday.
Reuters - Prices of single-family homes plunged
a record 14.1 percent in the first quarter from a year earlier,
marking a pace five times faster than the last housing
recession, according to the Standard & Poor's/Case Shiller
national home price index reported on Tuesday.
Reuters - Sales of newly constructed
single-family homes rose 3.3 percent in April to a 526,000
annual rate but they were down 42 percent from a year ago,
which was the largest year-over-year drop in nearly 27 years,
government data on Tuesday showed.
Reuters - Consumer confidence plunged
unexpectedly to its lowest in 16 years in May as rising
gasoline costs and falling home prices made Americans nervous
about the future, a survey released on Tuesday showed.
AFP - US consumer confidence plunged to a 16-year low in May amid a stuttering economy and as surging oil prices pushed inflation expectations to an all-time high, The Conference Board reported Tuesday.
AFP - Sales of new homes in the United States rose an unexpected 3.3 percent in April from the prior month, to a seasonally adjusted annual pace of 526,000 homes, a government report showed Tuesday.
Reuters - U.S. stocks were slightly higher on
Tuesday as lower oil prices dragged down shares of energy
companies while lifting airlines and data showed a mixed
picture of the housing sector.
AFP - The dollar held on to early gains against the euro here Tuesday, drawing strength from lower oil prices and as the market shrugged off a weak reading on US consumer confidence.
AP - Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years.
AP - Soaring gas prices and weakening job prospects left shoppers gloomier about the economy in May, sending a key barometer of consumer sentiment to its lowest level in almost 16 years.
AP - Wall Street moved higher in uncertain trading Tuesday as investors sifted through a mix of economic data: a government report that showed the first gain in new home sales in six months and a disappointing reading on consumer confidence.
Reuters - Prices of single-family homes
plunged a record 14.4 percent in March from a year earlier,
while consumer confidence slumped to its lowest in 16 years in
May as gasoline prices surged.
