Food prices rising 3-5%; Home Depot sells unit for $10B
CBS News
Transcript
[Music] Americans will have to keep digging deeper when they head to the grocery store experts say soaring corn prices will push the cost of milk Beef Pork and other items Up 3 to 5% that means consumers wrestling with paying $3 for a gallon of milk could soon be facing prices as high as $4 a gallon keep an eye on shares of Home Depot today the nation's largest Home Improvement chain is selling its Contractor Supply business to a group of private Equity firms the price tag over $10 billion Home Depot also said it was increasing its stock buyback program by $22 billion investors will be keeping a close eye on the oil pits as the government releases the latest look at us crude stock piles oil prices gushed to a 9-month high Tuesday topping $69 a barrel that's after labor unions in Nigeria rejected the government's efforts to avert a nationwide strike Nigeria is Africa's biggest oil producer and one of the overseas suppliers to the US a roller coaster ride on Wall Street ended with stocks posting modest gains as investors brushed off disappointing earnings from Best Buy the DOW Industrials up 22 points on the day the NASDAQ Composite up just fractionally and that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus