... Stocks closed mixed overall, but the major averages lost ground as the latest earnings reports and news of an 11,000 drop in initial jobless claims failed to inspire investors ahead of Friday's Q2 GDP report. Investors were waiting to see whether the economy has picked up or lost steam since the Q1. James Bullard of the St. Louis Federal Reserve today said the Fed's current policies were putting the economy at risk of becoming "enmeshed in a Japanese-style deflationary outcome within the next several years." Treasuries and the dollar index fell. Gold and crude futures rose./B.Egli

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