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    U.S. Economy Headlines
    Oil prices drop as dollar strengthens (AP)

    OPEC's acting president Chakib Khelil, seen here on June 9, 2008, on Thursday ruled out an increase in production by the oil exporting group despite pressure on the cartel to help rein in record crude prices.(AFP/File/Fayez Nureldine)AP - Oil prices fell Thursday as the dollar moved higher and forced crude to lose some of its appeal as a hedge against inflation. Gas prices reached another record at the pump, rising to a national average of $4.06 a gallon, and are likely to keep rising.


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    Thu, 12 Jun 2008 18:05:21 GMT - Yahoo! News: Economy News
    Treasury prices decline following sales report (AP)
    AP - Treasury prices fell Thursday after a jump in retail sales last month bolstered a notion that an inflation-wary Federal Reserve might have more leeway to begin raising interest rates. -- read full article
    Thu, 12 Jun 2008 18:30:23 GMT - Yahoo! News: Economy News
    Strong retail sales boosted by rebate checks (Reuters)

    Shoppers manoeuvre their way through the aisle at Costco Warehouse in Arlington, Virginia, May 29, 2008. (Molly Riley/Reuters)Reuters - Cash from government stimulus checks helped push U.S. retail sales up at twice the rate expected in May but the strength could be fleeting as households contend with soaring prices and the worst housing slump in decades.


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    Thu, 12 Jun 2008 18:33:45 GMT - Yahoo! News: Economy News
    Retailers success raising prices limited: Fed (Reuters)

    A customer pushes her shopping cart past a display at a Wal-Mart Supercenter in Rogers, Arkansas, June 5, 2008. (Jessica Rinaldi/Reuters)Reuters - U.S. businesses have faced rising costs in recent weeks but retailers have had only "mixed results" trying to raise selling prices with the economy still weak, the Federal Reserve said in a report on Wednesday.


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    Wed, 11 Jun 2008 18:58:45 GMT - Yahoo! News: Economy News
    Stocks sink as oil reapproaches high, BUD up late (Reuters)

    Traders work on the floor of the New York Stock Exchange, April 16, 2008. (Keith Bedford/Reuters)Reuters - Stocks sank on Wednesday, with all three indexes losing around 2 percent, after oil prices shot back near their record high, stoking fears about inflation and its toll on consumers.


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    Wed, 11 Jun 2008 21:52:43 GMT - Yahoo! News: Economy News
    Oil soars on dollar, Energy Department report (AP)

    Traders at the New York Mercantile Exchange deal in crude oil futures Wednesday, June 11, 2008  in New York. Crude oil prices are likely to average $126 a barrel in 2009, $4 higher than this year, as oil supplies and demand are expected to remain tight, Guy Caruso, head of the department's Energy Information Administration, told a House hearing. Gasoline prices are likely to peak at $4.15 a gallon in August and won't go down much after that, the agency projected in a report. (AP Photo/Frank Franklin II)AP - Oil prices regained their stunning upward momentum Wednesday, rising as crude's biggest drivers — a weak dollar and supply concerns — brought buyers back in force. At the pump, gas prices rose to a new record over $4.05 a gallon.


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    Wed, 11 Jun 2008 20:02:41 GMT - Yahoo! News: Economy News
    Stimulus payments result in record May deficit (AP)
    AP - A flood of economic aid payments pushed the federal budget deficit to $165.9 billion, the highest imbalance ever for May. -- read full article
    Wed, 11 Jun 2008 21:12:38 GMT - Yahoo! News: Economy News
    House overwhelmingly passes Amtrak funding bill (AP)
    AP - A nearly $15 billion Amtrak bill passed the House Wednesday as lawmakers rallied around an alternative for travelers saddled with soaring gas prices. -- read full article
    Wed, 11 Jun 2008 21:43:32 GMT - Yahoo! News: Economy News
    IBD's Top 10 - Wednesday (Investor's Business Daily)
    Investor's Business Daily - 1 A 4th week of steep drawdowns to U.S. crude inventories stirred supply fears and pushed the July crude contract up $5.07 to $136.38. Oil supplies have fallen 23 mil barrels in the past month. China's May oil imports shot up 25%. The dollar added to the price jump, falling after 2 days of gains vs. the euro. -- read full article
    Wed, 11 Jun 2008 22:54:15 GMT - Yahoo! News: Economy News
    Communist Cuba scraps uniform wages in new reform move (AFP)

    A female soldier from the Ceremony Battalion of the Council State of Cuba, looks directly into the camera during a parade in Havana. In a new reform move, communist Cuba announced Wednesday it was scrapping salary caps long meant to underscore egalitarianism but which President Raul Castro's government says hurt productivity.(AFP/File/Adalberto Roque)AFP - In a new reform move, communist Cuba announced Wednesday it was scrapping salary caps long meant to underscore egalitarianism but which President Raul Castro's government says hurt productivity.


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    Thu, 12 Jun 2008 05:16:13 GMT - Yahoo! News: Economy News
    Prosperity varies from U.S. city to city: think tank (Reuters)

    A high-rise condominium under construction, with Mt. Hood in the background, is seen in Portland, Oregon November 15, 2005. (Richard Clement/Reuters)Reuters - Large U.S. cities are economically strong -- generating 75 percent of the country's gross domestic product -- but only one-fifth enjoy a mix of healthy productivity, narrow wage inequality and environmental sustainability, according to a survey released on Thursday.


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    Thu, 12 Jun 2008 05:32:31 GMT - Yahoo! News: Economy News
    Fed: High energy, food prices keep economy weak (AP)

    US dollar and euro banknotes. The dollar firmed in European trade after remarks from Federal Reserve Chairman Ben Bernanke added to speculation about possible hikes to US interest rates, dealers have said.(AFP/File/Bertrand Langlois)AP - The economy remained "generally weak" heading into summer as rising costs for energy and food pounded consumers and forced some companies to push their own prices higher.


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    Thu, 12 Jun 2008 06:57:59 GMT - Yahoo! News: Economy News
    Mortgage applications rise in latest week: MBA (Reuters)
    Reuters - Mortgage applications rose after falling for three straight weeks, bouncing back from the lowest level in more than six years and overcoming a rise in home loan rates, an industry trade group said on Wednesday. -- read full article
    Wed, 11 Jun 2008 11:06:39 GMT - Yahoo! News: Economy News
    Energy Dept. says oil, gas prices to stay high (AP)

    A gas customer is surrounded by over $4 prices as he fills up in Burlington, Vt., Monday, June 9, 2008. Retail gas prices rose further above a national average of $4 Monday, and are likely to keep rising as distributors and retailers hike prices in response to last week's unprecedented oil price rally.(AP Photo/Toby Talbot)AP - Motorists can expect gasoline prices around $4 gallon through next year, the Energy Department said Wednesday, with oil prices staying well above $100 a barrel.


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    Wed, 11 Jun 2008 17:41:00 GMT - Yahoo! News: Economy News
    Oil soars on dollar, Energy Department report (AP)

    A trader at work during frenetic activity in the crude oil options area on the floor of the New York Mercantile Exchange. World oil prices have taken a breather from spiralling prices which have prompted consumer nations to urge a production increase amid warnings of a global recession(AFP/Getty Images/File/Chris Hondros)AP - Oil prices regained their stunning upward momentum Wednesday, soaring as crude's biggest drivers — a weak dollar and supply concerns — brought buyers back in force. At the pump, gas prices rose to a new record over $4.05 a gallon.


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    Wed, 11 Jun 2008 18:05:45 GMT - Yahoo! News: Economy News
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