AP - Pending home sales unexpectedly rose in April to the highest reading since October, an industry group said Monday, but experts say the large proportion of distressed property sales will continue to weigh down prices.

Reuters - The Dow staged a modest rebound on Monday from Friday's nearly 400-point drop, as concerns about consumer spending and the housing market were eased by better-than-expected sales figures from McDonald's Corp and a surprising gain in pending home sales.

AP - Oil prices dropped Monday on a stronger dollar and a call from Saudi Arabia for a meeting to talk about prices it called unjustifiably high, but gas prices kept marching higher, leaving the $4 mark in the rearview mirror.

Reuters - Federal Reserve Chairman Ben Bernanke on Monday signaled the central bank would act to strongly resist rising inflation, as energy costs soar into the stratosphere.

AP - Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned, Federal Reserve Chairman Ben Bernanke said Monday.

AFP - Federal Reserve chairman Ben Bernanke has said the likelihood of a severe US economic slump has diminished, while "upside risks" to inflation are forcing the Fed to be more vigilant.

Reuters - London is the most influential financial centre in the world for the second year running, according to MasterCard's second annual survey.

Reuters - Economists have trimmed forecasts for U.S. growth in the second half of this year and in 2009, but more have come to the view that the United States will dodge a recession, a survey released on Tuesday showed.

AFP - The dollar fell against the euro but rose versus the yen in European trading on Monday, after the US currency plunged last week on news of a jump in the US unemployment rate, dealers said.

Reuters - The U.S. labor market declined in May to the weakest in three-and-a-half years and is likely to deteriorate further, the Conference Board said on Monday as it launched a new leading indicator for employment.

Reuters - Pending sales of previously owned U.S. homes unexpectedly rose in April to the highest level in six months as foreclosed properties flooded the market and drove prices sharply lower, a real estate trade group report on Monday showed.

Reuters - Pending sales of previously owned U.S. homes rose in April to the highest level in six months as foreclosed properties flooded the market and drove prices sharply lower, a real estate trade group's report on Monday showed.