Fresh economic reports painted a picture of a gradual economic recovery as consumer spending rose and durable orders unexpectedly fell. The employment picture strengthened as jobless claims tumbled more than expected.
A top U.S. bank regulator said lawmakers need to be careful about moving forward with a proposal that could break up big banking institutions, while also voicing support for its objective.
Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.