Money and Financial Lifestyle

Retail gasoline prices rose again overnight and are now up nearly 40 percent from the start of the year, while the price for crude on Tuesday topped $60 a barrel for the first time since early November.

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Gasoline nears $2.25, crude briefly above $60 (AP)

The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.

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Trade deficit widens in March to $27.6 billion (AP)

Ford Motor Co. shares dropped almost 9 percent Tuesday morning, a day after disclosing a public offering of 300 million shares of common stock that will help it fund its health care trust for retired autoworkers and their families.

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Ford shares sink on share offering (AP)

General Motors Corp stock plunged more than 22 percent to a 76-year low on Tuesday, a day after GM’s top executives dumped their shares as the automaker heads toward a bankruptcy or a restructuring that would all but wipe out existing shareholders.

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GM shares fall to 76-year low after execs dump stock (Reuters)

Several large U.S. banks undertook big capital-raising efforts on Tuesday, hoping to satisfy regulators who want to see bigger cushions against a deep recession, or proof they have enough of a buffer already.

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BofA and other U.S. banks scramble for capital (Reuters)

Improved credit markets have brought stabilization to the economy but it is still not clear when growth will resume, General Electric Co Chief Executive Jeff Immelt said on Tuesday.

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GE CEO says economy stabilized, growth a question (Reuters)

Shares of drugmaker Pfizer Inc. jumped nearly 7 percent Tuesday after an analyst issued a report citing benefits of its planned acquisition of rival Wyeth and stating that those were “not yet reflected in the stock.”

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Pfizer shares jump after analyst backs Wyeth deal (AP)

An estimated 32.4 million Americans are expected to travel this Memorial Day weekend, most of them taking advantage of a plunge in gas prices compared with last year, AAA said Tuesday.

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AAA: more expected to travel for Memorial Day (AP)

MBIA Inc. shares jumped in premarket trading Tuesday after the bond insurer posted a first-quarter profit, its first after five straight quarters of losses.

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Ahead of the Bell: MBIA shares jump on earnings (AP)

The financial health of the government’s two biggest benefit programs may have slipped over the past year, reflecting the deep recession that has already bitten into other areas of the budget.

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Annual report due for Social Security and Medicare (AP)