Dow hits record; Home Depot profit falls 30%
CBS News
Transcript
[Music] a mild report on inflation unleashed the Bulls on Wall Street and made it more likely the FED will cut interest rates in the near future the Dow made it another record close while the NASDAQ Composite moved in the opposite direction but it's bad news all around in the housing market foreclosures are on the rise and Industry Group says lenders foreclosed on nearly 148,000 homes Nationwide in April that's a 60 2% jump over last year home resales plunged 6.6% in the first quarter while the average price for a single family home fell about 2% to $212,000 home builders continue to struggle a new survey finds less than a third of Builders have confidence in the housing market and the faltering housing market hurt Home Depot's bottom line where profits tumbled 30% last quarter the retailer also warned that earnings for the year will be at the low end of projections and more Americans went high tech this tax season the IRS says a record 77 million taxpayers filed their returns electronically this year up about 11% from last year that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus