AP - America's trade deficit shot up in July to the highest level in 16 months as oil imports hit an all-time high, offsetting strong export growth. The deficit with China climbed to the second highest level on record.

AP - The U.S. trade deficit soared in July to the highest level in 16 months as oil imports hit an all-time high, offsetting strong export growth.

AP - Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates.

AP - The Federal Reserve has auctioned another $25 billion in loans to squeezed banks to help them overcome credit problems.

AP - The Federal Reserve has auctioned another $25 billion in loans to squeezed banks to help them overcome credit problems.

AP - Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market.

AP - The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin as Americans pick a new president.

AP - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.