US Trade Deficit Falls to $26 Billion
The Commerce Department said today that the US trade deficit fell to its lowest level in nine years, falling to $26 billion in May. A slight increase in exports combined with a weakening demand for imports is responsible for the unexpected results. More
Oil Prices Continue to Fall
After dropping below $60 a barrel early today, crude continued its downward path shedding a dollar and a half to $58.83 a barrel by 2:30 PM in New York. More
US Consumer Sentiment Falls More Than Expected
Fears that unemployment will continue to grow – likely reaching 10% before the end of the year – helped drive consumer sentiment down to a greater-than expected index number of 64.6 from 70.8 the month before. More
British Pound Suffers as Stocks, Prices Slide
The pound lost ground to the dollar today amidst a stock sell-off and news that UK factory prices continue to fall suggesting that the economy is still stuck in a deep recession. More
