AP – The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic recovery will be aided this year by U.S. sales abroad.

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AP – Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.

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AP – Stocks traded in a tight range for a fourth day Thursday after China reported a sharp jump in inflation. Mixed U.S. economic news also held the market back.

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Reuters – The Senate on Wednesday passed a $149 billion package of jobless aid and tax breaks, as Democrats continued efforts to lower the 9.7 percent unemployment rate before congressional elections in November.
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AP – China’s inflation rose in February amid galloping growth and demand for scarce labor, increasing pressure on Beijing to ease off its stimulus while keeping a recovery going in the world’s third-largest economy.

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