Home resales hit 4-year low; Google nears $535 record

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[Music] the housing market remains in the spotlight today as we get a look at new home sales for May the report comes on the heels of more bad news for the market home resales in May fell to the lowest level in four years and a glut of homes on the market pushed average home prices lower for the 10th straight month but on Wall Street it was concerns about Rising interest rates that kept the markets on a roller coaster ride stocks ended lower the Dow lost eight the NASDAQ closed off nearly 12 keep an eye on shares of Google stock in the internet search giant reached a new intraday high of about $535 Monday that followed news last week that Google increased its market share lead over Yahoo MSN and AOL several analysts are now putting Google's price Target over $600 a share but Apple's iPhone Remains the big buzz in the tech World revving up the hype the first shipments of the smartphone have apparently arrived at some Apple Stores the stores have reportedly banned any devices containing cameras including cell phones from stor rooms and Nintendo seems to be winning the video game War allowing it to overtake rival Sony in market value Nintendo's Wii is outsold Sony's Playstation by more than 2 to one in the US and demand for its DS handheld has far outstripped the PSP Nintendo's market cap reached $53 billion Monday compared to Sony's 52.5 billion that's your money watch log on to cbsnews.com for more in New York I'm Allison Harlin

AT&T's iPhone plan tops $1,200/year; new home sales fall again

CBS News

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[Music] if you plan on being first in line Friday to buy a new iPhone better get ready to Shell out for service AT&T's top plan for Apple's iPhone will run you nearly $1,200 a year that will get you 1350 free minutes a month but it does not include activation fees and taxes of course there are cheaper plans they all offer 200 text messages a month plus unlimited data services like web browsing on Wall Street a drop in consumer confidence and more disappointing news in the housing market weighed on stocks the Dow slid 14 points the NASDAQ dipped nearly three more proof of a continued slump in the housing market new home sales fell more than 1 and a half% in May it's the fourth drop in the past 5 months the price of new homes is also sliding the median price just over $236,000 is about 1% lower than last year and Dell is turning its focus from businesses to Consumers the PC maker is launching a new line of feature-packed computers and slim performance laptops in a range of colors Dell has always offered consumer PCS but they only imount sales something Dell wants to change it's part of Dell's push to gain market share from Rivals like hulet Packard that's your money watch be sure to click on cbsnews.com for more business headlines in New York I'm Alexis christopherus