U.S. Trade Gap Surges to a New Record

I don't know how much more good economic news we can take.

Wholesale prices edged up just 0.1 percent in July as a big drop in food costs offset the biggest increase in energy prices in six months while the nation's trade deficit soared to an all-time high in June.

The Commerce Department reported Friday that the trade deficit surged to a $55.82 billion in June, a sharp 19.1 percent increase from a May imbalance of $46.88 billion.