
8:15am: Rajat Gupta is the highest-profile target yet in the government's ongoing crackdown. More
Former Labor Secretary Robert Reich says the growth in income for the top 1 percent has limited purchasing power for the rest. Play

Moody's downgrades four Spanish regions, two of them to junk.

Lawyer and investment banker Jerome Powell and Harvard economics professor Jeremy Stein to take 14-year terms on the Federal Reserve Board of Governors.
Gas prices have been steadily falling in most of the nation, but West Coast drivers are still paying top dollar at the pump.

As a result of home price declines, low mortgage rates and an increase in median incomes, the National Association of Home Builders/Wells Fargo Housing Opportunity Index hit a record level of affordability during the first quarter.

The number of Americans filing for first-time unemployment benefits was flat last week, as 370,000 filed jobless claims.

Japanese GDP grew 4.1% annual rate in the first quarter, showing post-tsunami rebound. That's nearly doubled the U.S. annual rate of 2.2%.

Minutes from the Fed's last meeting in April showed that the central bank's top officials discussed how fiscal policy could weigh on the recovery, and debated the possibility of more stimulus.

At least a dozen new pipeline projects are slated to carry oil from the mid continent to the Gulf Coast, potentially lowering gas prices but coming with an environmental toll.

$7 trillion in tax hikes and automatic spending cuts start to kick in on Jan. 1 if Congress does nothing. Further complication: The debt ceiling.
Mortgage lenders say delinquency is at the lowest level since 2008.
| Latest Report | Next Update |
|---|---|
| Inflation (CPI) | May 15 |
| Retail sales | May 15 |
| Home Prices | May 29 |
| Consumer Confidence | May 29 |
| GDP | May 31 |
| Jobs | Jun 1 |
| Manufacturing (ISM) | Jun 1 |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.76% | |
| 15 yr fixed | 3.11% | 3.02% | |
| 5/1 ARM | 2.69% | 2.68% | |
| 30 yr refi | 3.86% | 3.83% | |
| 15 yr refi | 3.21% | 3.13% |
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