Dow closes at record 13,978; Conrad Black convicted of fraud
CBS News
Transcript
[Music] well there was no stopping the Blue Chips investors pushed the Dow further into record territory despite a big jump in oil prices and a disappointing retail sales report the Dow climbed 45 points to a record 13,978 retail sales posted the biggest drop in two years last month as consumers struggled to keep up with Rising gas prices the government says sales fell a much worse than expected 9/10 of a percent in June Conrad black the Fallen media Tycoon faces up to 35 years in prison after being convicted of male fraud and obstruction of justice black and three former Executives at the Hollinger newspaper empire were accused of illegally pocketing money that should have gone to stockholders headed out to buy a family car this weekend Chrysler announced it's cutting the prices on new minivans the sticker price of the Caravan will be reduced by about $2,000 and the Town and Country will be slashed by more than 3,500 Chrysler is hoping by cutting the sticker price that can offer fewer incentives which now top $4,000 on some models that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus