US deficit falls 11.6 percent in third quarter as exports rise. Although US deficit falls for the quarter, the annual current account deficit is expected to rise a modest 2 percent.
Stock market falls sharply, with the Dow losing 162 points, after two big ratings agencies said the fiscal pact between European leaders would make little difference in solving the region's debt problems. Intel's lower fourth-quarter guidance dragged the stock market down further.
The Dow gained 186 points to close at 12184 Friday after a deal to forge stronger ties between most of Europe's economies sent stocks sharply higher
The nations of the European Union have agreed to submit to tighter oversight of fiscal policies as many struggle with severe debt that could kill the euro and cause a new global recession.
US stocks on the Dow dropped 198 points to close at 11997 after the head of the European Central Bank said there was no plan for purchases of European government bonds. The drop in US stocks was the worst since November.
US stocks were down near session lows in midday trading. The European Central Bank's announcement that it had no large-scale bond-buying plan undercut enthusiasm for US stocks.
European Central Bank cuts interest rates but says it has no plan for large-scale purchases of European government bonds. Shares on Wall Street fall in early trading.
The Dow rose 46 points to close at 12196.37 as optimism about a European debt crisis summit rose and fell
Protesting in public spaces is protected speech. But occupying homes and lots to protest foreclosures, while dramatic, could result in many lawsuits, robbing Occupy of money and momentum.