U.s. Economy | featured news

The nation's largest mortgage lender said revenue from mortgage banking jumped almost 80% and consumers borrowed more on their credit cards. But it called the economic recovery uneven.

Consumer sentiment cooled again in early July to its lowest level in seven months as Americans took a dim view of their finances and job prospects, a survey released on Friday showed.

U.S. wholesale prices rose only slightly last month, as higher costs for food and pickup trucks offset another drop in energy prices. But overall inflation stayed mild.

Import prices fell last month by the most in more than three years mostly due to a plunge in the cost of imported oil, further icing inflation pressures... The decline last month was even more than analysts had expected, and could give the U.S. Federal Reserve more scope to ease monetary policy if policymakers think the economy needs it.

Federal Reserve officials sent new signals they are seriously considering more actions to bolster the economic recovery but disappointed many investors by not indicating they are committed to taking action.

The U.S. trade deficit shrank in May, as exports to places like China and Europe rose, defying concerns about a global economic slowdown. The Commerce Department said Wednesday that the trade deficit fell 3.8 percent to $48.7 billion in May, down from $50.6 billion in April.

President Barack Obama on Wednesday ordered a series of modest steps aimed at helping small businesses, his latest election-year effort to counter Republican attacks on his economic record and show voters he is trying to tackle high unemployment.

U.S. employers advertised more jobs in May than April, a hopeful sign after three months of weak hiring. Job openings rose to a seasonally adjusted 3.6 million, the Labor Department said Tuesday. That's up from 3.4 million in April. It's also the second-highest level in nearly four years, just behind March's 3.7 million.

No question about it, Friday’s jobs report was a disappointment ... But beneath the dreary headline lay some encouraging signs: Demand for labor was relatively strong ... Jobs growth is broad-based ... Workers are re-entering the labor force ...