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Evening Business Brief

July 16, 2009, 6:29 PM

Stocks advanced for a fourth straight day. The Dow added 96 points to 8,712. The S&P was up 8 and the Nasdaq gained 22 points.
  • Former Treasury Secretary Henry Paulson says he did nothing wrong but was working to protect the American taxpayer in his efforts to stabilize financial markets last year.  Paulson appeared before a congressional panel today, where he was accused of bending to the demands of a major bank and keeping negotiations of a hefty bailout secret.
  • The National Association of Home Builders says its monthly housing market index has climbed to the highest level in nearly a year. Lower interest rates and other incentives have helped builders woo homebuyers.
  • Benchmark crude for August delivery added 48 cents to settle at $62.02 a barrel on the New York Mercantile Exchange. At the pump, retail gas prices dropped for the 25th consecutive day. 
  • A little booze with your latte? Starbucks is taking its name off one of its Seattle-area stores and adding wine and beer to the menu, as an experiment. The chain says it will consider doing the same in other cities if the effort is successful. The store's new name reflects its location; it's simply 15th Avenue Coffee and Tea.
     

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