Dow dips ahead of Fed meeting; Starbucks cuts trans fats
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[Music] The Dow took a breather from its recent record run. Investors cashed in profits ahead of tomorrow's Federal Reserve meeting on interest rates. The Fed is expected to leave rates unchanged, but we could get more clues about if and when a rate cut is coming. In the end, the Dow dipped about four points. The Nasdaq, though, inched up about a point. Starbucks is cutting trans fats from its menu by year end. It will still have whipped cream on its Frappuccinos and rich desserts, but says it will use ingredients with naturally occurring fats like butter, whole milk, and eggs. Starbucks joins KFC, Wendy's, McDonald's, and other restaurants phasing out trans fats. General Motors has rolled out a new round of sales incentives for its redesigned lineup of pickup trucks, including some versions of the 2007 Chevy Silverado and GMC Sierra. GM says it needs to keep up with deals being offered by its competitors. And that's your money watch. Be sure to click on cbsnews.com for more business headlines in New York. I'm Alexis Christopherus.
Dow hits record 13312 as $4 gas looms
CBS News
Transcript
[Music] with little New Economic news due out today investors are likely to stick to the sidelines ahead of Wednesday's Federal Reserve meeting on interest rates still that didn't stop the blue Trip's momentum Monday reaching yet another record close the Dow jumped 48 points to 13,312 the NASDAQ dipped a point drivers Nationwide are bracing for $4 gas analysts say that price is just around the corner predicting that refineries which have seen below normal output for months now won't be producing enough to meet demand during the upcoming summer driving season the latest lunberg survey puts the national average at a record $37 a gallon that's 4 cents higher than the previous record set back in August of last year airlines are also feeling the pinch with the rising cost of jet fuel but they're not having any luck raising airfares some major carriers including American and Continental rolled back a $10 r trip bump that was started last week by Delta it's the second failed attempt by Airlines to raise fairs this year and that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus