Quick Overview

• (Bloomberg) -- China's retail sales rose 14.2 percent in May as higher incomes spurred consumer spending in the world's fastest-growing major economy.

• Foreclosures rising with debt, job losses
  Michigan and Ohio, battered by automotive-related job losses, together recorded 45,000 mortgages entering some stage of foreclosure in the first quarter. Those are increases of 91 percent and 39 percent, respectively
  
  

• U.S. deficit is a global risk, G-8 warns
  
  

• YoY Japan's GDP increased by 3.1% in the first quarter of 2006.

• Ethanol production averaged 301,000 barrels per day in the U.S. in March, that is nearly 60,000 barrels above March, 2005. Stocks increased 1.3 million gallons.