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The U.S. economy grew by an annualized rate of 1.7 percent in the second quarter of 2013, according to gross domestic product data from the Commerce Department. And U.S. companies boosted payrolls by adding 200,000 new jobs from June to July.

Penny Pritzker, a Chicago business executive, is one of the nation's richest people. She raised hundreds of thousands of dollars for the president's campaigns. She also, Obama said Thursday, has "built companies from the ground up."

President Obama on Thursday nominated Penny Pritzker to run the Commerce Department. An heiress to the Hyatt hotel empire and one of Forbes' 300 richest Americans, she also served on the President's Economic Recovery Advisory Board. Obama also nominated a new U.S. Trade Representative. Michael Froman is a senior economic adviser to the president and a former Citigroup executive.

For 16 years, Mexican growers have agreed not to sell tomatoes below what's called a reference price, meant to protect Florida growers from cheap Mexican tomatoes. But half of all tomatoes eaten in the U.S. come from Mexico, and Mexican growers say it's because their tomatoes taste better.

More than 2 million construction jobs disappeared during the economic downturn. But now that there are indications the sector is rebounding, the industry is actually experiencing a labor shortage in many parts of the country.

David Wineland, a physicist at a federal lab in Boulder, Colo., was recognized for cutting-edge work in quantum computing that's both incredibly esoteric and practical. He'll share the prize with his friend and friendly competitor, Serge Haroche, who is at the College de France in Paris.

The government reports consumer prices and retail sales increased during August, mostly due to more expensive gas prices.

Economic growth slowed in the second quarter. We look at just how the U.S. economy breaks down into goods and services.

Much is still unclear about what happened in California and whether formal charges will be brought against Commerce Secretary John Bryson.

The good news for investors followed a painful week of huge drops.