IN BRIEF

WASHINGTON

Rise in foreclosures shows signs of slowing

The number of U.S. households on the verge of losing their homes to foreclosure is still rising, but the annual increase in May was the smallest in nearly three years.

Foreclosure filings rose nearly 18 percent in May compared with the same month last year, RealtyTrac Inc. will report today. It was the smallest yearly gain since June 2006, and a 6 percent decline from April.

Banks repossessed about 65,000 homes in May, up from 64,000 in April, due to jumps in several states including Michigan, Arizona and Nevada.

On a state-by-state basis, Nevada had the nation's highest foreclosure rate in May with one of every 64 households receiving a filing.

Among large cities, Las Vegas led the way with one in every 54 households receiving a filing. Four California metropolitan areas -- Stockton, Modesto, Riverside-San Bernardino and Merced -- were next, followed by Cape Coral-Fort Myers, Fla.; Bakersfield, Calif.; Orlando, Fla.; Vallejo-Fairfield, Calif.; and Miami.

WASHINGTON

Fed survey sees recession abating

The economy's sharp downhill slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed.

A Federal Reserve snapshot of economic conditions issued Wednesday found that five of the Fed's 12 regions said the "downward trend is showing signs of moderating."

In addition, "several" regions said their expectations of future business activity have improved, although they don't see a "substantial increase" through the end of the year.

CHICAGO

Home Depot raises full-year guidance

Home Depot Inc. said Wednesday that its full-year earnings from continuing operations may come in better than previously forecast, thanks to a combination of individual homeowners spending more and stronger overall sales.

The nation's largest home improvement chain issued the rosier forecast weeks after smaller rival Lowe's Cos. raised its full-year outlook after reporting its first-quarter results in mid-May.

NEW YORK

Yields appear to ease for Treasury issues

The 10-year Treasury note fell 0.69 points to 93.22 points in late trading Wednesday.

Its yield was at 3.96 percent, up from 3.89 percent late Monday but down from its high of the day of 4.01 percent.

The yield on the 30-year bond rose to 4.77 percent from 4.67 percent, as its price fell 1.69 points to 91.69.

At one point during the trading day, the 30-year yield reached 4.83 percent, the highest yield since October 2007.