Tax day; Dow surges 108 after strong retail sales and Citi earnings
CBS News
Transcript
[Music] today is tax day and the US Postal Service is bracing for that last minute rush from all those procrastinators even with two extra days April 15th was a Sunday and the 16th was emancipation day experts say many people will still be scrambling to finish their returns in time more than half of Americans are expected to e file their returns this year still post offices across the country will be open extra late for those who like it the oldfashioned way a busy day ahead on Wall Street investors will be turning their attention to inflation and real estate with a report on consumer prices and then a separate report on new home construction Wall Street kicked off the week with a big rally fueled by better than expected retail sales and strong earnings news from City Group the Dow raced ahead 108 points erasing all of those losses from the February 27th selloff and the NASDAQ rallied 26 points the earnings parade marches on with profit report cards today from Chip giant Intel as well as Banks Washington Mutual and Wells Fargo investors may also be keeping the latest comments from the former Federal Reserve chairman in mind in late February you'll remember Allen greenpan triggered a huge selloff when he mentioned a possible recession well now Greenspan tells the financial Forum in Tokyo that the growing World economy would insulate the US from a recession that's your money watch be sure to click on cbsnews.com for more in New York I'm Alexis christopherus