fred bergsten joins us for a preview of what's at stake for the u.s. and the global economy. >> jeff: worries about a prolonged economic recovery derailed rail road stocks-- a look at the sector in tonight's stocks in the news. >> susie: i'm susie gharib. >> jeff: and i'm jeff yastine. paul kangas is off tonight. this is "nightly business report" for tuesday, july 7. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. another sharp drop in oil prices today-- they are now at $62 a barrel. in the past week alone, they've tumbled 13% on growing concerns an economic recovery is far away. the volatile ups and downs in the new york oil markets are getting attention in washington. regulators are trying to figure out whether wild swings in prices are a result of bets made by speculators. as darren gersh reports, the commodity futures trading commission says it's time for some answers. >> reporter: if yo

fred bergsten joins us for a preview of this week's g-8 summit in italy. >> susie: the global advertising market is expected to hit bottom later this year, according to a key advertising forecaster. "zenith optimedia" cut its global ad spending estimates for 2009 as companies continued to cut advertising spending in the first half. the firm says the second quarter saw some improvement, and predicts the ad market in the u.s. and europe will recover in 2011. >> jeff: the obama administration said today it's confident general motors will emerge from bankruptcy by the end of the month. yesterday, a federal judge gave the automaker the go ahead to sell its assets to a new company. in exchange for a $50 billion investment in g.m., the u.s. government will hold a 60% stake. the government's auto task force predicts the new g.m. could sell shares by the first half of next year. >> susie: tonight's commentator wishes china and india continued economic success. he's justin fox, business and economics columnist at time magazine and author of "the myth of the rational market." >> only two of the worl

fred bergsten joi us for a eview of thiweek's g-8 summit in italy. >> susie: thglobal advertising market is expected thit bottom later this year, accorng to a key advertising recaster. "zenith optimedia" cutts global ad spendingstimates for 2009 as companiecontinued to cut vertising spending in the first half. thfirm says the second quarter saw some improment, and predictshe ad market in the u.s. and europe wi recover in 2011. >> jef the obama administrati said today it's confident general moto will emerge from nkruptcy by the end of the month yesterday, a fedal judge gave the automaker the ahead to sell its assets to a new mpany. in exchange for a $50 billio investment in m., the u.s. govement will hold a 60% stake. the government's auto ta force predicts the new.m. could sell ares by the first half of ne ar. >> susie: night's commentator wishes china and indiaontinued economic succe. he's jtin fox, business and economics columnisat time magazi and author of "the mh of the rational market." >> only two of the wors 15 biggest economies are likelyo grow i2009: china's and india' meanwhil