Earnings, U.s. Economy | featured news

Retail sales contracted in March for the second time in three months, a sign the American economy may have stumbled at the end of the first quarter.

Harley-Davidson is more than just an iconic American brand. It is also a surprisingly good reflection of the forces shaping the U.S. economy as a whole. The motorcycle company reported its fourth quarter earnings Tuesday, and the details show a firm that is as typically American as the roaring sound of a hog on the highway.

Inventories at U.S. wholesalers rise at the fastest pace this year in September, adding to evidence that 3Q growth may have been stronger than initially thought.

U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in business investment in more than a year.

Expectations for third quarter earnings reports were dismal. But a recent flurry of high-profile reports has investors scowling even more at the weak revenue numbers.

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

U.S. manufacturing closed out its weakest quarter in three years this month and the number of Americans filing new claims for jobless benefits held near two-month highs last week, suggesting the economic recovery is failing to gain traction.

Fannie Mae and Freddie Mac, the two mortgage-finance giants, this week reported some of their best quarterly results since the real estate collapse. On Wednesday, Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.