The revised third quarter GDP figures show 2 percent growth, down from the previously estimated 2.5 percent gain. Few economists were expecting that much of a revision and it sure looks like a disappointment — until you start picking through the numbers.

It's time for the congressional debt-cutting "super" committee to hang up their budget-fighting capes. No official announcement yet, but it looks like stalemate.

It's less than a week before the super committee must reach a deal to cut at least $1.2 trillion from the U.S. deficit. Both sides say they know the clock is ticking, but they're not getting closer to agreement.

A big afternoon drop in the markets on concerns that the congressional super committee is deadlocked and the yield on Spanish bonds neared a disturbingly high 7 percent.

The teachable moment out of the European financial mess today involves creeping contagion in unlikely places.

Stronger-than-expected October retail sales numbers countered the latest punches from Europe.

German Chancellor Angela Merkel warns that Europe needs a closer political union to climb out of financial crisis.

Investors buying into a classic 'delay and pray' strategy as the markets ignore European debt for the day and end the week on an up note.

The markets took a little break from yesterday's panic and rallied around some economic bright spots

The worry shifts from Greece to Italy, whose economy is one of the largest in Europe and its debt impacts a number of countries around the globe