Latest Business News: Trade Gap Falls, Suggesting Faster U.S. Economic Growth

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Latest Business News: Trade Gap Falls, Suggesting Faster U.S. Economic Growth

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Latest Business News: Trade Gap Falls, Suggesting Faster U.S. Economic Growth

by Wochit 0:41 mins

Latest Business News: Trade Gap Falls, Suggesting Faster U.S. Economic Growth

by Wochit 0:41 mins

The Commerce Department reported a 22 percent decline in the United States trade deficit, which could lead to a significant revision in the quarterly economic growth estimate. The US Department of Justice has accused Bank of America of defrauding investors, by vastly underestimating the quality of some $850 million worth of mortgage-backed securities. U.S. stocks are closing lower after retailers disappointed the market with weaker profit forecasts.

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