Dow off 34 after volatile session; Dell misses estimates

CBS News

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[Music] Traders are describing the market swings as after shocks following Tuesday's stock market earthquake that shook the DOW Industrials down more than 400 points on Thursday stock staged a dramatic comeback after a 200 Point plunge for the Dow right out of the gate but some positive news out of the manufacturing sector helped the market find its legs and in the end the Dow finished down a modest 34 points the NASDAQ Composite gave up about 12 keep your eye on Dell the PC giant said quarterly profits and sales came in below already reduced expectations that's after Dell lost customers over the holidays to Rivals including hulet Packard later today investors will get the latest reading on consumer sentiment and February proved to be a mixed bag for us automakers General Motors surprised the street with a 4% rise in sales but Chrysler suffered an 8% drop and Ford which stands to lose its place as the nation's number two automaker to Toyota saw its sales tank 13% that's your money watch click on cbsnews.com for more business headlines at the New York Stock Exchange I'm Alexis christopherus

Dow sinks 4% for week; regulators tighten subprime rules

CBS News

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[Music] the stock market closed the book on its worst week in more than four years A Drop in consumer confidence added to fears that the economy may be headed for a recession the DOW Industrials tumbled 120 points for the week the Dow sank over 4% the NASDAQ slid 36 points and fell nearly 6% for the week the Dow is now down about 5% from its recent High a drop of 10% means we are officially in a market correction Federal Bank Regulators are demanding tougher standards on subprime mortgage lenders saying that borrowers may not understand the risks the agencies are calling on lenders to tell low credit lowincome customers about the potential payment increases and prepayment penalties that are associated with these subprime mortgages and it's the job opportunity of a lifetime for a young investor the Oracle of Omaha Warren Buffett says is looking to hire at least one young investment manager to help succeed him at his company Berkshire Hathaway the legendary investor and billionaire says the right person must be able to think independently and recognize and avoid serious risks that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus