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WASHINGTON: The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.
NEW YORK Reassuring news about housing and banking on Monday convinced investors to return to the US stock market. The Dow Jones industrial average shot up 235 points, its biggest daily point gain in over a month, and made up three-quarters of last week's losses.hr noshade size=-1 width=50%>
The U.S. economy, which was showing tentative early signs of a recovery, faces a potentially grave new threat: swine flu. A widespread outbreak could batter the tourism, food and transportation industries in particular, deepening the recession in the U.S. and possibly worldwide
So much for fears that flooding the economy with money to fight the financial crisis would ignite inflation. The recession is keeping a tight lid on both prices and wages.