AP - The U.S. trade deficit narrowed in May as exports — including industrial supplies and consumer goods — climbed to all-time highs.

Reuters - Stocks fell sharply on Friday on worry about the financial stability of the top two home financing providers Freddie Mac and Fannie Mae, while oil prices hit an all-time high, clouding the outlook for the economy.

AP - Treasury Secretary Henry Paulson, seeking to calm nervous investors about the financial state of Fannie Mae and Freddie Mac said Friday the government's primary policy focus currently is to leave the congressionally-created mortgage giants intact.

AP - Wall Street stumbled through another volatile session but ended with a respectable gain Thursday after a multibillion dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. helped offset concerns about the financial sector and energy costs.

AP - The nation's top economic officials urged Congress on Thursday to give them new regulatory tools to better protect the country from economic and financial havoc if a major Wall Street firm were to fail.

AP - Consumers, armed with government rebate checks, still have eyes only for heavily discounted items and necessities, and the critical back-to-school season is looking like another difficult period for the nation's retailers.

Reuters - Stocks rose on Thursday, helped by optimism about a major deal in the chemicals sector and after the Federal Reserve chairman said the central bank and the government are focused on stabilizing the financial system.