Recession, 2009 | featured news

Dow futures were up 30 points. The S&P Case-Shiller home-prices indexes showed U.S. home prices decreased at a slower annual rate in October, but prices were flat compared to September.

Consumer prices were flat in July as energy costs retreated following a big surge in June. Over the past 12 months, prices dropped the most in nearly six decades as the recession and lower energy costs kept a lid on inflation.

Mall-based chains continue to be hit hardest as consumers focus on necessities, but the warehouse club operator Costco’s results also missed analyst estimates.

The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.

The economy’s decline in the quarter was not quite as bad as the government originally believed, kindling hope that the economy could resume growing by the end of 2009.

The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.