IBD'S TOP 10.(A)

Consumer Spending Slides 0.1%

1Americans cut spending in May for the first time since Nov. as they stayed away from auto showrooms. But incomes rose 0.3%, the sixth straight gain. The consumer has been the recession's bright spot. May's drop suggests Q2 GDP growth will be modest. But economists say spending rose again in June. The personal saving rate rose to 3.1% from 2.8% in April. More on this page

Senate Turn On Prescriptions Bill

2House Republicans passed a Medicare prescription drug bill, but its fate in the Democratic-controlled Senate was uncertain. The House plan spends $320 bil over 10 years. Democrats say that's not enough and that the Republican bill was fashioned to please insurers and drug firms. It's expected to be a hot election issue.

High Court Keeps Hearings Shut

3The Supreme Court blocked a judge from opening immigration hearings for foreign terrorism suspects. The Justice Department argued that open hearings would be a serious threat to national security. The court also blocked, at least for now, Maine's effort to press firms to decrease prescription prices for the uninsured. The high court will review the case next year.

Midwest Factories Solid In June