2011 | featured news

A July 4th weekend heat wave is moving into Southern California that will bring temperatures in some areas that could hit 110 degrees.

Consumer confidence fell in June to the lowest point since November 2010 on concerns about the slack labor market and sputtering recovery, according to a Conference Board report released on Tuesday.

A backlog of foreclosures and falling sales indicate prices may decline further, discouraging builders from taking on new projects.

The FDIC said two banks failed, McIntosh State Bank in Georgia and First Commercial Bank of Tampa Bay in Florida, to bring the tally of closures so far this year to 47.

Worry about lack of substantive progress towards a blueprint for tackling the euro zone debt crisis kept investors on edge, traders said. In the United States, consumer inflation rose more than expected in May.

Americans are finally getting some relief from high gas and food prices. Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year.

The Martin Luther King memorial will be dedicated in August on the National Mall.

This month's full moon will pass almost directly through the center of Earth's shadow on Wednesday in what will be an unusually long total eclipse of the moon, 100 minutes. The next total lunar eclipse of exceptional length will be July 27, 2018, and will last 106 minutes.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

Gartner lowered its forecast for 2011 personal-computer shipments. The market-research firm now expects 9.3% growth, down from a previous forecast of 10.5%, as consumer spending tightens.