Last Updated: July 31st, 2009: 4:25 PM ET---The major US equity indices closed the session mixed, after a day of choppy action, as investors weighed the morning's corporate results and a report on Q2 GDP. The government released its advance reading on the nation's GDP showing the economy had contracted at an annualized rate of 1.0%, making it the fourth consecutive decline, but better than the expected 1.5% contraction. However, the report showed personal consumption had fallen by an annualized rate of 1.2%, much worse than the expected 0.5% decline. Chevron (NYSE:CVX) posted a Q2 earnings miss at 87 cents, a dime under projections, versus $2.90 a year earlier, as revenues fell 51% year-over-year to $40 billion. However, the company upped its forecasted production for full-year 2009. In other corporate new, the US Justice Department said it reached an agreement with Swiss Bank UBS (NYSE:UBS) "in principle on the major issues" regarding its IRS tax evasion case. The Dow Jones Industrial average rose 0.2% to settle at 9,172, the S&P 500 rose 0.1%, to 987, and the Nasdaq Composite Index fell 0.3%, to 1,979.

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