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July 29, 2010 06:28 PM

Evening Business Brief

Stocks lost ground. The Dow fell 31 points to 10,467.
The S&P was down 5 points to 1,102. The Nasdaq dropped about 13 points to 2,252.

  • President Barack Obama is pledging the government will recover all taxpayer money his administration provided to bail out the auto industry last year. In an interview aired today on "The View," he said the auto industry "tells a good story" of his administration's efforts to rescue the economy.
  • The government tomorrow releases an estimate of second quarter growth. Economists expect the growth measure to
    come in at an annual rate of 2.5 percent. That would be down slightly from the rate seen in the first 3 months of the year.
  • Oil prices rose amid better-than-expected earnings from ExxonMobil and Southwest Airlines. Benchmark crude for September delivery rose $1.37 to settle at $78.36 a barrel on the New York Mercantile Exchange.
  • A federal bankruptcy judge has allowed certain parties to see a confidential report that criticizes the debt-laden buyout of Tribune Co. The report concludes that talks leading up to the buyout of Tribune had bordered on fraud.

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