By MarketWatch MARKETWATCH FRONT PAGE Sales of new homes slide in May to a record-low level after a federal subsidy for home buyers expired, according to data released by the Commerce Department. See full story. Mortgage modification data isn't so inspiring More homeowners are getting help avoiding foreclosure through loan modifications and other efforts -- but "more" doesn't necessarily mean "very many" homeowners. See full story. Apple iPhone fans continue early adopter insanity Apple fanboys and fangirls hungry for the new iPhone will likely be frustrated by the latest bit of drama from the tech company. See full story. Adobe second-quarter net jumps 18% Adobe posts a sharp gain in quarterly profit, as the maker of design software continues to rebound on brisk sales of its flagship product. See full story. Caution is the word as Fed wraps up meeting As they wrap up a two-day meeting to review the sputtering U.S. economy, interest rates and monetary policy, Fed policy makers are expected to issue a cautious statement keeping rates on hold at record-low levels, analysts agree. See full story. MARKETWATCH COMMENTARY The models may be smaller, but Microsoft's chief expects PCs to keep on truckin'. See full story. MARKETWATCH PERSONAL FINANCE About 1.2 million jobless workers are expected to lose unemployment benefits this month, and doctors will start to see a 21% cut in Medicare payments Friday, following the Senate’s inability to move forward with the far-reaching jobs and tax-extenders bill. See full story.

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