May, Europe Debt Crisis | featured news

New orders for U.S. factory goods rose more than expected in May, a hopeful sign for U.S. manufacturers who have appeared more vulnerable to Europe's festering debt crisis.

Unemployment in the 17-country euro currency bloc hit another record in May as the crippling financial crisis pushed the continent toward the brink of recession, official figures showed Monday.

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.