Dow surges 157, biggest gain in 8 months; GM subprime warning
CBS News
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[Music] the Bulls came out of hiding on Wall Street giving the Dow its biggest one-day gain in eight months a rebound in stock markets in Asia and Europe gave us investors confidence to jump back into the market and scoop up stocks that had been beaten down the Dow raced ahead 157 points the NASDAQ ran up 44 more Fallout from the Meltdown in the subprime mortgage Market which lends to people with weak credit Leman Brothers says General Motors may take a charge of almost a billion dollars to cover bad mortgage loans made by its former home lending unit and fed chairman Ben banki weighing in on the situation says Fanny May and Freddy Mack the largest sources of money for us home loans should sell most of their $1.4 trillion in assets to refocus on home ownership among low-income Americans well it's March and for college basketball fans that means only one thing March Madness CBS hopes to juce more revenue from fans by offering NCAA tournament games online for free via at CBS Sportsline and cstv online units the free online offerings were a slam dunk last year for CBS when over a million users signed up for the March Madness on demand package and wound up watching over 19 million streams that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus
Dow dips 15; banks defend credit card fees on Capitol Hill
CBS News
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[Music] no big moves on Wall Street today investors were cautious after yesterday's big comeback rally the Dow forfeited an early gain to finish 15 points lower the NASDAQ Composite gave up more than 10 trying to head off new legislation some banks say they'll try to better explain their credit card fees and charges Executives of three major Banks were on Capitol Hill to defend their credit card practices one consumer testifying at the hearings that he was charged an over limit fee 47 times for going over his credit card limit by just $200 we'll move over quarter pounder here comes the new third Pounder from McDonald's the fast food giant is testing a bigger high-end Angus burger at restaurants in Southern California at a third of a pound the burger is the biggest on the menu and it also costs the most at 3.99 and it serves up between 720 and 860 calories by comparison McDonald signature sandwich the Big Mac is 540 calories it's the death of an icon and the end of a very lucrative series from Marvel Comics Captain America is killed off in the issue that hit stands today a sniper shoots down the shield wielding hero as he leaves a courthouse the superhero's death ends a 66-year run Marvel has sold over 200 million Captain America comic books that's your money watch click on cbsnews.com for more in New York I'm Alexis christopherus