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Wednesday Morning Business Brief

July 30, 2014, 5:53 AM

Wednesday Morning Business Brief
NEW YORK -

Wall Street traders today will be keeping their eyes on a meeting of the Federal Reserve and a government report on the gross domestic product for the 2nd quarter. The stock market fell slightly yesterday amid an atmosphere of caution. Major indexes crept marginally higher at the start but turned flat by midday and slid to a loss at closing time. The S & P lost 8.96 points and the Dow fell 70.48 points. The Nasdaq slipped 2 points. Asian markets opened higher.

  • Stronger-than-expected financial results pushed Twitter's stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter. The San Francisco-based company's stock jumped 29.6 percent to $50.01 in extended trading after the results came out.
     
  • Argentina's finance secretary and economy minister has met in New York with a court-appointed mediator as the South American nation worked late yesterday to prevent its second default in 13 years.  Minister Axel Kicillof arrived in the evening at the Manhattan offices of a mediator appointed to try to strike a deal by midnight tonight. U.S. District Judge Thomas P. Griesa last week ordered around-the-clock negotiations to avoid a default.
     
  • Pacific Gas & Electric is accused of lying to regulators in connection with a fatal pipeline explosion that leveled a suburban Northern California neighborhood in 2010. The U.S. attorney in San Francisco announced the obstruction of justice charge and 27 related counts yesterday. The explosion destroyed 38 homes, killed eight people and injured dozens.
     
  • Florida-based testing software provider ExamSoft Worldwide says a processing issue has caused delays for bar exam takers in multiple states who were submitting their answers. Some test takers experienced slowness or difficulty in returning completed exams Tuesday to company servers using company software.

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