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Olmert Sharon looks like a -- day or at least a lower open on Wall -- coming up and a half an hour lets you realize this is Savard on the market starting over in Europe where things are significantly lower than they were earlier.
That's it's our GDP figures -- down 1% now in London -- Paris the features here in the US have also extended their declines after an up and down session yesterday ended to the downside.
Down 91 points now on Dow futures again much lore than we were earlier this morning the new government data shows the recession.
It was deeper than many people first thought GDP crawl into a 2.4 percent growth rate the second quarter.
That's below the previous quarter and below the estimate that happens to also be the weakest pace -- -- of economic growth in nearly a year.
And estimates for last year also revised down -- government now saying the economy shrank to two point 6% rate the steepest drop since 1946.
Now -- -- 00 growth rate in 2008.
The economy continues to be dragged down by weaker consumer spending sluggish business growth and also trade deficits it again the recession even weaker than first thought.
More big oil earnings out this morning Chevron was the a -- second quarter results in from the company that made five point four billion dollars which works out to two dollars and seventy cents a share easily beating estimates.
For Chevron but even with that.
Revenue 51 billion dollars a little light of the -- the stock is down in premarket trading.
Elsewhere the earnings front Merck the drug maker 86 cents a share on an adjusted basis also beating estimates and another stock it's down.
Revenue eleven point 35 billion again slightly short of the estimate.
-- did benefit from strong sales of diabetes arthritis and HIV trucks.
Now some other top stories for you -- a Friday morning President Obama heading out to Detroit today where he'll meet and talk with auto workers.
Three hour visit to the motor city where he will -- pay a visit to a Chrysler plants.
Also a GM plant where the Chevy Volt disassembled the president saying the auto bailout was success he says it saved as many as a million jobs.
He also said taxpayers would get all the money invested in the car companies back the White House had to clarify the statements a -- saying he meant the money spent by his administration.
Which is sixty billion dollars does not include 25 billion spent by President Bush.
Disney finally selling off Miramax a group of private investors paying about 660 million dollars for it.
That's more money than the group led by the investor Ron Burkle and the Weinstein Brothers is willing to pay the key to the deal.
The movie library it's about seven out of -- that's about a -- -- -- Miramax library including Chicago and no country.
For old men.
And there's another effort to get money back from the Bernie Madoff -- Irving Picard the trustee in the case.
Dog after about thirty million dollars he says Madoff they invested in technology and oil companies follows an existing lawsuit which is seeking about 200 million.
For made -- wife sons and meets.
You're caught up to date now on -- top stories and take a quick look at commodities here -- everybody to stay tuned for Barney company coming up.
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