Business groups praised President Barack Obama for submitting free trade agreements with South Korea, Colombia and Panama to Congress.

The deals will eliminate tariffs on most U.S. exports to these three countries and will open the market for services there.

Obama said the deal "will provide a major boost to our exports" and "support tens of thousands of jobs across the country."

"We've worked hard to strengthen these agreements to get the best possible deal for American workers and businesses, and I call on Congress to pass them without delay, along with the bipartisan agreement on Trade Adjustment Assistance that will help workers whose jobs have been affected by global competition."

House Majority Leader Eric Cantor, R-Virginia, said the House will vote on the trade deals the week of Oct. 10.

"We look forward to swift action from the Senate and the White House to implement these agreements so that the economy can grow and people can get back to work," he said.

"America is finally getting back in the game," said U.S. Chamber President and CEO Tom Donohue. "These agreements are about creating jobs and ensuring a level playing field for trade", he said.

"For too long, we have remained on the sidelines while our competitors overseas have negotiated new agreements with partners all over the world, costing manufacturers valuable market share that is difficult to regain," said Jay Timmons, president and CEO of the National Association of Manufacturers.

Top CEOs scale back economic expectations

The CEOs of America's largest companies aren't as bullish on the economy as they were three months ago.

A quarterly Business Roundtable survey found that its CEO members have dialed back their expectations for sales, capital spending and job growth for the next six months.

Only 65 percent expect sales to increase, compared with 87 percent who thought so three months ago.

Only 36 percent expect to add employees, compared with 51 percent earlier. Nearly 25 percent of CEOs plan to decrease employment, up from 11 percent three months ago.

Overall, the Business Roundtable's CEO Economic Index fell from 108.9 in the second quarter to 77.8 in the third quarter.

That still reflects a growing economy, although one that is growing slower than CEOs thought it would earlier this year.

CEOs still have "a relatively positive outlook," said Business Roundtable Chairman Jim McNerny, president and CEO of Boeing Co. There's just "increased uncertainty among CEOs concerning the economic climate and business environment."

U.S. funds aid emerging clean-energy firms

Six technology incubators around the country will receive $12 million in federal funds to help emerging clean-energy businesses develop and commercialize their innovations.

The winners of the i6 Green Challenge were chosen from among 140 applicants.

The federal funds will be used to establish "proof of concept" centers for green technology, modeled after MIT's Deshpande Center for Technological Innovation, which funds early-stage research and connects MIT's innovators to the business community.

Proof of concept centers will help green entrepreneurs test the feasibility of their technologies, develop business plans, access capital and find mentors.