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Morning Business Brief

July 7, 2009, 7:31 AM

  • Stocks settled mixed in the latest session. The Dow rose 44 points to 8,325. The S&P added 2 points, while the Nasdaq fell 9 points.
  • This is a relatively quiet week for economic reports. The calendar is clear today of major releases. Consumer credit is due from the Federal Reserve tomorrow.
  • Oil prices fell below $64 a barrel today in Asia, extending a 13 percent drop over the last week on investor doubts about a global economic recovery. Benchmark crude for August delivery fell 43 cents to $63.58 a barrel by afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
  • Details haven't been released, but officials say a deal is near concerning part of the cost of President Barack Obama's health care plan. The officials say hospitals are close to agreeing to accept lower-than-expected payments under Medicare and Medicaid.
  • Groups unhappy with General Motors' plan for motoring out of bankruptcy are not willing to accept a judge's stamp of approval. They say they'll oppose the deal, partly because it would free the "new GM" from liability for people hurt by defective GM products before June 1.

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