Businesses slashed inventories more than expected in May, the ninth consecutive decline, as companies continued to trim stockpiles amid a severe recession.
Retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.
Stocks are slightly higher in early trading following better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs and an upbeat reading on retail sales.
A payment processor that handles the accounts of online poker players wants a judge to order the return of about $14 million that the company says was seized by the federal government.
The corporate owner of the Chicago Cubs is considering having the team file for bankruptcy protection. People knowledgeable about the process say the move would hasten the club's long-awaited sale by cleaning up its books.
Thousands of union workers at Vale Inco's nickel mine operations in Ontario are on strike after 85 percent of union members rejected the company's contract offer.
A bankruptcy judge has approved a deal to shift some of auto parts supplier Delphi's assets to the General Motors Co. that emerged from Chapter 11 bankruptcy protection last week.
Montana Gov. Brian Schweitzer is asking the Obama administration to force General Motors Corp. to honor its contract with a platinum mine instead of buying the precious metal from overseas.
The Dow Jones industrial average is down 75 to 8,107. The Standard & Poor's 500 index is down 8 to 874, while the Nasdaq composite index is down 8 to 1,744.
The Transportation Department is giving Continental Airlines immunity from antitrust laws to work closely with other airlines on international service.
Treasury Secretary Timothy Geithner say the enormous scale of the financial derivatives market helped to cripple the economy and that greater oversight is needed to make sure it doesn't happen again.
American International Group is reportedly asking the federal government to OK the insurer's plan to resume paying millions in promised retention incentives next week.
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.