But some of the earnings start to filter out here. U-S businesses start making their quarterly profit reports next week. The latest on the U-S economy shows new orders to factories rose in May to their highest level in over seven years. Meanwhile, the U-S retail picture for June was mixed. Retail sales rose only modestly, as many Americans apparently stayed away from shopping malls because of higher gasoline prices.
Analysts say higher interest rates also dampened the consumer spirit.
Newspapers in the United States continue to praise the political turnaround in Mexico, where opposition presidential candidate Vicente Fox defeated the entrenched Institutional Revolutionary Party, or PRI, that had been in power for 71 years. Another popular editorial topic is the new Camp David summit meeting, called by President Clinton Wednesday. So is the controversial verdict against 10 of 13 Iranian Jews accused of espionage for Israel. There are other comments about current gasoline prices in the United States and a Saudi Arabian move to change things, the civil war in Chechnya, more sectarian violence in Northern Ireland, and more excitement about the prospect of water on the planet Mars. Mr. Zedillo helped democratize Mexico's elections and rooted out some of the corrupting elements in his government.