- The Dow continues to edge toward its record high. The market overcame early losses today triggered by China's steps to rein in its booming housing market. The Dow closed up 38 points at 14,128, about 36 points shy of its all-time high. The S&P 500 rose seven points, to 1,525. The Nasdaq added 12 points, to 3,182.
- Oil prices briefly dropped below $90 a barrel for the first time this year before settling at $90.12 on the New York Mercantile Exchange today. That's helping to ease pressure on gasoline prices. They dropped 3 cents over the weekend to a nationwide average of $3.75 a gallon.
- ExxonMobil has begun presenting its defense against claims it should pay hundreds of millions of dollars to the state of New Hampshire for the clean-up of groundwater contamination from a gasoline additive. ExxonMobil is trying to refute allegations that it hid information about the environmental hazards of MTBE in the mid-1980s. A former engineer for the company says the concerns were widely discussed in water quality and oil industry circles at the time.
- Boeing says it is ready to move quickly to get its 787s fixed and back in the air. The company is waiting for the Federal Aviation Administration's approval of its fix for overheating batteries that have grounded the planes worldwide since January.
- Construction could start moving again soon in Las Vegas. Several multibillion-dollar projects in the city stalled during the recession. But today a Malaysian conglomerate says it will break ground next year on the 87-acre site where the partially built Echelon project came to a halt nearly five years ago. The Genting Group says its "Resorts World Las Vegas" project, which will feature 3,500 hotel rooms, a convention center and a 4,000-seat theater. Executives say they hope to capitalize on the city's popularity with Asian tourists.
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