Beef prices soar for barbecue season; Dow retreats from 13,600
CBS News
Transcript
[Music] just in time for barbecue season beef prices are soaring the cost of producing beef and the demand for it has risen so much over the past two months that prices are rising while the supply of top quality beef has dropped experts say customers at steakhouses and markets will see the effects in the coming weeks if they haven't already investors take another pulse of the housing market today with a report on new home sales for April and things could be looking up for home builders that's according to US Treasury secretary Henry Paulson who predicts the housing slump is near the end it's 8 years behind bars for a former Coca-Cola secretary found guilty of trying to sell trade secrets to rival Pepsi for over a million dollars on Wall Street stocks retreated as investors cashed in gains from another wave of dealmaking that briefly pushed the DOW Industrials above 13,600 in the end the Dow lost 14 points the NASDAQ Composite closed down about 11 the markets did get some relief after the conclusion of two days of talks between the US and China which ended with some minor agreements among them a doubling of Passenger flights between the two Nations by the year 2012 but the highlevel economic talks ended without any progress in the dispute over China's undervalued currency which critics say is hurting us trade that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus