The bottom line

North Dakota No. 2 in oil production

North Dakota has passed Alaska to become the nation’s No. 2 oil-producing state, pumping more than 575,000 barrels per day. The state’s oil output has quadrupled in just four years, thanks largely to hydraulic fracturing. Texas remains the unchallenged leader, pumping 1.7 million barrels a day.

The Wall Street Journal

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Fannie Mae has a good quarter

For the first time since the government took over Fannie Mae, in 2008, the mortgage backer has finished a quarter without needing taxpayer money to balance its books. During the first three months of the year, it made $2.7 billion in profits, citing a slower decline in housing prices and a lower rate of homeowners behind on their payments.

Los Angeles Times

Chinese banks to expand in U.S.

The Federal Reserve gave approval last week to three government-owned Chinese banks to expand into retail banking in the U.S. The nod suggests that the Fed’s view of China’s system of regulating its banks is improving, and that more such deals might be in the offing.

The Wall Street Journal

Let's set the job record straight

In the 23 years that Democrats have occupied the White House since John F. Kennedy took office, in January 1961, non-government jobs have increased by nearly 42 million, compared with 24 million jobs created during 28 years under Republican presidents.

Bloomberg.com

Facebook's advertising challenge

Eight in 10 Facebook users say they hardly ever or never click on ads or sponsored content on the social-networking site, according to an AP/CNBC poll. Boosting advertising revenue is central to Facebook’s business model.

CNBC.com