U.S. stocks, hit by economic worries, end July on mixed note

Date: Thu, 31 Jul 2008 17:04:11 -0400
U.S. stocks, hit by economic worries, end July on mixed note

U.S. stocks close sharply lower, leaving the market with a mixed
performance for July, as economic concerns resurface following
weaker-than-expected growth numbers and a big jump in jobless claims.

Economic Report: GDP accelerates to 1.9% pace in 2nd quarter

Boosted by stimulus checks from Uncle Sam and big drop in imports, real
growth in the U.S. economy accelerated in the second quarter to a 1.9%
annual rate, the Commerce Department reports.

Exxon Mobil profit up 14% , but production disappoints

Exxon Mobil Corp. says higher oil prices drove profits up by $1.4
billion, but the world's largest oil corporation falls short of Wall
Street's earnings target for the second quarter in a row on higher
costs, lower refining and chemical margins and a 3% dip in adjusted
production.

Temasek's growing Merrill stake to trigger regulatory review

The latest investment by Singapore sovereign-wealth fund Temasek in
Merrill Lynch could lift its stake to more than 10%, triggering the need
for regulatory approval and reigniting debate about foreign ownership of
U.S. financial firms.

Economic Report: Commerce Dept. concedes U.S. economy contracted in
fourth quarter

The U.S. economy contracted in the fourth quarter of 2007, the first
quarter of negative growth since the 2001 recession, the Commerce
Department concedes.