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Central bankers from around the world are starting to focus on how to unwind the policies they used to fight the global financial crisis.

Sales of previously owned U.S. homes in July notched their fastest pace in nearly two years, an industry survey showed on Friday, the strongest sign yet that housing was pulling out of a three-year slump.

Ben S. Bernanke offered his most hopeful assessment of the economic situation in more than a year.

The United States economy is out of the emergency room and appears to be on a slow path to recovery, Warren Buffett wrote in an opinion column in the New York Times.

Retailers Target Corp and Saks Inc posted better-than-expected quarterly results on Tuesday as they clamped down on expenses and inventory to offset falling sales, sending shares higher.

The global economic recovery has begun but sustaining it will require refocusing the United States toward exports and Asia toward imports, the International Monetary Fund's chief economist said.

Freddie Mac reported a surprising profit in the second quarter, but the profit turned to a loss for shareholders after the company paid the U.S. government a $1.1 billion dividend.

The company, reporting its first profit since 2007, said quarterly net income was $1.8 billion.

Financial stocks led a stock-market rally after the jobs report. AIG surged 20% and American Express led blue chips.

Even as the July numbers came in better than expected, the job market remains shaky in the months ahead.