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 September 29, 2009 - 08:55 AM PST
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UPI NewsTrack Business

NEW YORK, Sept. 29 (UPI) -- U.S. markets slipped Tuesday morning as a closely watched index of home prices showed mixed results.

The S&P/Case-Shiller Home Price Index showed the 10-City and 20-City composite listings, while still negative, have improved for six months.

In late morning trading, the Dow Jones industrial average lost 7.33 points, 0.07 percent, to 9,782.03. The Standard & Poor's 500 shed 0.01 points, less than 0.01 percent, to 1,062.97. The Nasdaq composite index lost 1.66 points, 0.08 percent, to 2,129.08.

The benchmark 10-year Treasury lost 10/32 to yield 3.313 percent.

The euro fell to $1.4552 from Monday's $1.4606. Against the yen, the dollar rose to 90.14 yen from Monday's 89.63 yen.

The Nikkei 225 in Tokyo added 90.68 points, 0.91 percent, to 10,100.20.

A climate change revolt at U.S. Chamber

WASHINGTON, Sept. 29 (UPI) -- The largest U.S. nuclear power plant operator, Exelon (NYSE:EXC) , said it would withdraw from the U.S. Chamber of Commerce to protest its stand on global warming.

The move is not an isolated incident. The national chamber, which has more than 3 million members, has seen a few defections lately over its stance on climate change, The New York Times reported Tuesday.

The chamber opposes an Environmental Protection Agency proposal to set limits on harmful greenhouse gases, which would likely be used if Congress failed to act on a new climate change law, the Times said.

Pacific Gas & Electric in California and PNM Resources (NYSE:PNM) , which owns the largest utility in New Mexico, have also said they would drop out of the U.S. Chamber of Commerce.

"There will be significant vibrations from this. It's a bit of an earthquake," said Rep. Jay Inslee, D-Wash., a member of the Energy and Commerce Committee.

Exelon's Chief Executive Officer John Rowe said, "the carbon-based free lunch is over. Breakthroughs on climate change and improving our society's energy efficiency are within reach," he said.

The Chamber's Chief Operating Officer David Chavern said, "We just think the EPA is the wrong venue to be dealing with climate change issues."

Wall Street mergers show return of chutzpah

NEW YORK, Sept. 29 (UPI) -- A sudden increase in corporate mergers shows a new sense of confidence on Wall Street, bankers who make some big deals said.

"The psychology has changed. This is sign that things have stabilized," Boon Sim, head of mergers and acquisitions for the Americas at Credit Suisse told The New York Times.

In order to swing a multi-billion dollar acquisition it helps to feel your own company is on solid ground, said Ted Rouse, head of global mergers and acquisitions at Bain & Co.

"If you're healthy, it's a great time to acquire inexpensively," Rouse said, the Times reported Tuesday.

Among the two large mergers announced Monday, Xerox Corp. (NYSE:XRX) agreed to buy Affiliated Computer Services (NYSE:ACS) for $6.4 billion. Abbott Laboratories (NYSE:ABT) Monday said it would buy Solvay's prescription drug business for $6.4 billion.

"We're confident that our base business will rebound when the economy does -- and in Q2 (the second quarter) saw the right trends in this direction," said Xerox Chief Executive Officer Ursula Burns.

In recent weeks, Dell (NASDAQ:DELL) computers bought Perot Systems (NYSE:PER) for $3.9 billion. Kraft made a $16.7 billion bid for chocolate maker Cadbury, which was rebuffed.

Crude oil prices drop Tuesday

NEW YORK, Sept. 29 (UPI) -- Crude oil prices fell to nearly $66 per barrel on the New York Mercantile Exchange Tuesday, the lowest price in more than a month.

The price of light, sweet crude fell 77 cents overnight to $66.07 per barrel. Heating oil prices dropped 0.0097 cents to $1.6812 per gallon. Reformulated gasoline prices lost 0.18 cents to $1.62 per gallon. Natural gas prices dropped 0.185 cents to $4.645 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.487 per gallon Tuesday, down from Monday's $2.499, AAA said.