July | featured news

Home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures. National home prices increased 1.2 percent in July, compared to the same month last year, according to the Standard & Poor's/Case Shiller index released Tuesday. That's the second straight year-over-year gain after two years without one.

The U.S. trade deficit grew to $42 billion in July, widened by fewer exports to Europe, India and Brazil that offset a steep decline in oil imports.

Orders for long-lasting goods posted the strongest gain of the year in July due to demand for cars and airplanes, though weakness continued outside the transportation sector.

Consumer prices were flat in July for a second straight month and the year-over-year increase was the smallest in more than 1-1/2 years, giving the Federal Reserve room for further monetary easing to tackle stubbornly high unemployment.

Americans boosted their spending at retail businesses in July by the largest amount in five months, a surge that could help lift the economy out from its slump. From cars, electronics and sporting goods to furniture, building supplies and garden equipment, every major category of spending rose last month. It was a heartening start to the second half of the year after consumers had reduced their retail spending in each month of the April-June quarter.

July was the hottest month ever recorded in the United States, beating the previous record set in the 1930s Dust Bowl era, according to new data from the National Oceanic and Atmospheric Administration.

Consumer confidence unexpectedly rose in July as Americans were more optimistic about the short-term outlook than they were about their current conditions, according to a private sector report released on Tuesday.

Last week, police in Parker, Fla., claimed the people involved in the July murder of 16-year-old Jacob Hendershot may have been involved in a vampire cult. Now one of the suspects is confirming that information.

Companies in July advertised the most jobs in three years, and layoffs declined – a bit of hope for a weak economy. Still, many employers are in no rush to fill openings. The Labor Department said Wednesday that employers increased their postings to 3.23 million from 3.17 million in June. That is the largest number of openings since August 2008. Typically, it takes anywhere from one to three months to fill an opening.

Spending rebounded strongly to post the largest increase in five months, the Commerce Department said.