According to Reuters, some members of Congress were unhappy with Defense budget cuts.

Reuters reports that Americans are more optimistic about the economy since Obama came into office, according to a New York Times/CBS poll.

Reuters reports that the US deficit was near $1 trillion in the government’s fiscal first half.

Reuters reports that Congress is set to curtail risky mortgages.

Reuters reports that a quarter of companies globally are set to freeze wages.

Reuters reports that the offer memo for Opel is about to go out.

Reuters reports that Soros says that the economy is facing a “lasting slowdown.”

Reuters writes that The Gap’s (GPS) Old Navy brand is trying to bring up flagging sales.

Reuters reports that Salesforce.com (CRM) is giving some customers free service.

Reuters reports that the SEC is considering several proposals for curbing short sales.

The Wall Street Journal reports that several bidders have emerged for AIG’s (AIG) asset management business.

The Wall Street Journal reports that tech giants are helping clients tap stimulus dollars.

The Wall Street Journal reports that J. Ezra Merkin was charged with fraud in the Madoff scandal.

The Wall Street Journal reports that Sun (JAVA) management is under pressure after a deal with IBM (IBM) apparently fell apart.

The Wall Street Journal reports that Treasury may offer participation in the toxic asset purchase plan to a broader group of firms.

The Wall Street Journal reports that music labels are pushing extras on Apple’s (AAPL) iTunes.

The Wall Street Journal reports that GM (GM) and Segway are working on a new vehicle.

The Wall Street Journal reports that gold dropped as optimism grows.

The Wall Street Journal reports that Japan set a $100 billion stimulus package.

The Wall Street Journal reports that the AP will fight illegal online use of its content.

The Wall Street Journal reports that Time Warner (TWX) is seeking to move some assets and liabilities off of AOL’s books.

The Wall Street Journal reports that Alcoa (AA) bulls are looking beyond current earnings.

The Wall Street Journal reports that MBIA (MBI) was sued over splitting its business.

The Wall Street Journal reports that it may be harder for shares in Goldman Sachs (GS) to go higher.

The Wall Street Journal reports that some companies have lowered their earnings bars so low that they will have no trouble clearing it.

The Wall Street Journal reports that Ford (F) cut its debt 28%.

The Wall Street Journal reports that credit and auto markets may slow down the deal for Porsche to takeover VW.

The Wall Street Journal reports that auditors gave Blockbuster (BBI) a “going concern” letter.

The Wall Street Journal reports that Delta’s (DAL) international traffic fell 15%.

The New York Times reports that Russia’s car bailout is aimed at preserving jobs and not promoting efficiency.

The New York Times reports that the economy’s output is falling behind by $1 trillion a year.

The New York Times reports that Australia cuts its rates to the lowest level since 1960.

The FT reports that hunger is a threat to global stability.

Bloomberg reports that GM (GM) is stepping up bankruptcy preparations.

Bloomberg writes that Soros calls the stock advance a bear market rally.

Douglas A. McIntyre

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