Economy

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  • U.S. wholesale inventories rose in March, fueled by increased stocks of cars and machinery which have provided support for economic growth early in the year, but wholesale sales posted the biggest fall in four years.

  • A number of top U.S. retailers reported disappointing April sales as consumers gravitated toward discount chains and bad weather delayed spring shopping in much of the country.

  • Patent expirations on big-name drugs has resulted in modestly less spending on medicines in the U.S. for the first time in at least 55 years, a report showed Thursday.

  • New claims for unemployment benefits dropped to the lowest level in nearly 5-1/2 years last week, signaling labor market resilience in the face of fiscal austerity.

  • Graduating from high school is becoming an ever more elaborate process. Expect to spend over $1,000 to attend the prom—and that's just the start.

  • Courtney Scott says she has been fending off foreclosure since 2008 while trying to work with her lender to modify the mortgage on her McDonough, Ga. home.

    Five years after the mortgage meltdown sparked a wave of foreclosures, millions of Americans are still fighting to save their homes. That is hurting a broader housing recovery.

  • Investors have been dipping into growth-oriented cyclicals, and if the trend continues, it could add more momentum to the stock market rally.

  • The Bank of England left its benchmark rate unchanged at 0.5 percent, a record low, on Thursday. Policymakers also kept the size of the asset purchase program unchanged at 375 billion pounds ($584 billion).

  • China's annual consumer inflation rose by more than expected in April while factory prices fell for a 14th consecutive month, highlighting the dilemma facing the central bank.

  • The amount of oil produced in the U.S., now at a 21 year high, is nearly even with the amount being imported.

  • Tokyo, Japan

    Japan will be consumed by a debt crisis surpassing the U.S. subprime crash, telling investors that "the beginning of the end has begun" for Japan's finances. The Financial Times reports.

  • Massive liquidity, an ongoing search for yield, modestly higher corporate earnings, heavy stock buybacks, and the Fed's bond-buying program is fueling stocks to new highs. This is constricting supply.

  • Richard Fisher

    Politicians in Washington are holding back the US economy and job growth can't reach its full potential until Congress gets its act together, said Richard Fisher, president of the Dallas Fed.

  • A trader on the floor of the New York Stock Exchange wears a hat embroidered with 15,000 at the end of the trading day on May 7, 2013 in New York City.

    Now that the Dow has cracked 15,000, the argument for "sell in May" may be getting weaker. "It's not based on anything but seasonality and phrases," says one trader.

  • Health care and technology, not banking and finance, top millennials' choice for careers, according to a new survey. See which companies they would prefer to work. St. Jude hospital?

  • Former Education Secretary William Bennett argues that 96 percent of colleges aren't worth the investment due to high loan payments and sky rocketing unemployment rates.

  • Jeffrey Zients

    April's U.S. budget surplus was bigger than a year ago and the government ran a much smaller deficit in the first seven months of the year, the CBO said.

  • Nouriel Roubini, co-founder and chairman of Roubini Global Economics

    Stocks aren't in bubble territory as yet, but a "huge rally in risk assets" over the next two years puts markets in danger of a big crash, Nouriel Roubini said.

  • Jack Lew

    Dysfunction in Washington is one of the biggest drags on the U.S. economy, undermining confidence and crimping growth, Treasury Secretary Jack Lew says.

  • Even the rosiest of forecasters acknowledge growth slowed sharply from the first three months of the year. And yet major U.S. stock indexes continue swaggering to fresh all-time highs.

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