Trade deficit narrows to $42.8 billion in July (AP)

AP - The trade deficit narrowed significantly in July as exports climbed to the highest level in nearly two years, reflecting big gains in sales of U.S.-made airplanes and other manufactured goods while imports declined.

Jobless claims add hope to labor outlook (Reuters)

Reuters - New claims for unemployment benefits fell more than expected last week to their lowest level in two months, a hopeful sign for the troubled labor market.

US jobless claims drop faster than expected (AFP)

AFP - The number of Americans filing new claims for jobless benefits fell faster than expected last week, extending a three-week decline, government data showed Thursday.

New filings for jobless benefits tumble (AP)

AP - The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.

Trade gap narrows more than expected in July (Reuters)

Reuters - The trade deficit narrowed more than expected in July, as imports retreated and exports shot to their highest since August 2008, according to a government report on Thursday that could lift hopes for third-quarter economic growth.

Stocks set to rise after drop in jobless claims (AP)

AP - Stocks are set to continue their rally after a report showed new claims for unemployment benefits fell sharply.

(AP)

AP - Trade deficit narrows sharply in July as exports rise to the highest level in nearly two years.

Stock futures rise ahead of jobless claims data (Reuters)

Reuters - Stock index futures rose for a sixth day in seven on Thursday ahead of weekly data expected to show a tick down in applications for unemployment insurance.

Global recession is unlikely, OECD says (AP)

AP - The global economic recovery could be slower than previously anticipated but a return to recession is unlikely, a leading international economic body said Thursday.

Bank of England holds rates at 0.5 percent (Reuters)

Reuters - The Bank of England kept interest rates at 0.5 percent for the 18th month in a row and announced no new quantitative easing purchases, in a widely expected decision on Thursday.

US loses ground in competitiveness report (AP)

AP - The U.S. has slipped down the ranks of competitive economies, falling behind Sweden and Singapore due to huge deficits and pessimism about government, a global economic group said Thursday.

Bank of England keeps rates at record low (AP)

AP - The Bank of England says it is holding interest rates steady at a record low of 0.5 percent for the 18th consecutive month amid growing fears about a double-dip recession.

Global stocks rise, dollar steady (AFP)

AFP - Global equities rose and the dollar steadied against the euro on Thursday amid renewed confidence in the economy and as markets awaited US jobs data and a British interest rate decision.

OECD says recovery slowing, urges policy caution (Reuters)

Reuters - Global recovery looks to be slowing more than expected as growth weakens in rich economies, and stimulus should be extended or stepped up if the slowdown endures, the OECD said on Thursday.

U.S. slips in WEF's competitiveness rankings (Reuters)

Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth after losing the top spot last year, according to the World Economic Forum's annual rankings issued on Thursday.

Asian shares mostly rise as Europe worries ease (AP)

AP - World stocks were mostly higher Thursday as news of a successful bond sale by Portugal eased worries over Europe's debt woes. But Chinese shares fell on fears that authorities might do more to cool the property sector.

Detroit gets rare assist from suburbs for fires (AP)

AP - As exhausted Detroit firefighters battled wind-fed blazes burning wild in some neighborhoods and threatening to char much of the city, a half-dozen departments from surrounding communities brought in sorely needed — and gladly accepted — help.

China prepares further property tightening (Reuters)

Reuters - Some Chinese cities are preparing fresh property tightening steps as housing transactions and prices show signs of a rebound, reinforcing market expectations that Beijing will not ease its grip on the sector any time soon.

Economists cut U.S. growth forecast again (Reuters)

Reuters - Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.

FDIC's Bair warns of government "exposure" in mortgages (Reuters)

Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.

SEC defends $75 million deal with Citigroup (AP)

AP - The government is defending as "fair and adequate" its $75 million settlement with Citigroup Inc. over charges it misled investors about billions in potential losses from subprime mortgages.

Financial crisis panel tells NV leaders to be bold (AP)

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Financial crisis panel tells NV leaders to be bold (AP)

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Obama: Democrats in trouble if election based on economy (AFP)

AFP - President Barack Obama admitted Wednesday if US voters in the upcoming midterm elections make their choices based on their opinion of the economy, his Democratic Party could be in big trouble.

Obama sees Democratic pain if vote hinges on economy (Reuters)

Reuters - President Barack Obama said on Wednesday that Democrats risked punishment in November's congressional elections if they allow the vote to be just about the U.S. economy, rather than the two parties' policies.

Flash crash cause still a mystery (Investor's Business Daily)

Investor's Business Daily - The SEC, which is probing the stock market "flash crash" on May 6, still hasn't identified a single cause, but a trade practice known as "stub quotes" and other issues contributed to the market's dramatic drop, sources said. Stub quotes are orders placed by market makers that are well off the market prices for stocks. The SEC wants to ban stub quotes.

SEC says proposed Citi settlement is fair (Reuters)

Reuters - The top securities regulator defended its proposed $75 million settlement with Citigroup , saying the penalty reasonably accounts for the seriousness of the bank's alleged misconduct, according to a document filed in court on Wednesday.

Summary Box: Stocks rebound as Europe worries ease (AP)

AP - BACK ON TRACK: The Dow Jones industrial average and other market indicators rose Wednesday as concerns about Europe's financial system eased thanks to a successful sale of debt by Portugal. The Dow rose five out of the last six days.

How the major stock indexes fared Wednesday (AP)

AP - Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system. Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer.

Consumers cut back on credit card use once again (AP)

AP - Consumer borrowing fell again in July as households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound.

Bankers urge government to pull plug on Fannie, Freddie (Reuters)

Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.

Flash crash report: plunge still a mystery: sources (Reuters)

Reuters - Regulators probing the stock market "flash crash" last May still have not uncovered a single cause but will point to "stub quotes" and other previously identified issues as having exacerbated the market's dramatic drop, according to two sources familiar with the probe.

Kuwait appoints first stock market regulator (AFP)

AFP - Kuwait has appointed its first independent regulatory body, the Capital Market Authority, to oversee its stock exchange, Commerce Minister Ahmad al-Harun said on Wednesday.

Freddie Mac to issue new 5-year note due 2015 (AP)

AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.

Oppenheimer downgrades H&R Block to 'Perform' (AP)

AP - Tax preparation company H&R Block has struggled for the last two tax seasons and faces uncertainty over the mortgages it still holds from its former lending operations, an Oppenheimer analyst said Wednesday.

FTSE 100 closes higher (AFP)

AFP - London shares closed higher on Wednesday after a boost from a successful Portuguese debt auction, although many financial stocks remained weak.

What Great Chess Players Can Teach Investors (The Motley Fool)

The Motley Fool - The constant iterative calculation of risk and reward required in every chess move translates well to the investing world. I thought it might be instructive to look at three chess world champions and see how their style matches up to various investment styles. Do you see your own style in any of these Grandmasters?

Summary Box: Mortgage lending falls 1.5 pct (AP)

AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.

Wall Street up as fears for European economy ease (AFP)

AFP - US stocks were slightly up on Wednesday after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.