Dow gains 100; Accredited Home Lenders stock halves

CBS News

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[Music] another late day buying spree sent stock soring on Wall Street the Dow Jones Industrial Average sprinted 100 points the NASDAQ Composite rallied 22 but a credited home lender saw its stock sliced in half after the subprime mortgage company said it is unable to handle a surge in overdue payments by homeowners it may now have to file for bankruptcy when it comes to luxury cars minor fender benders can mean major repair Bills new crash tests show bumpers on luxury Vehicles don't resist damage and lowp speed impacts at 3 to 6 mph they found the Infiniti G35 sustained almost $14,000 in damage the Acura TL and Mercedes C-Class more than 11,000 the best was the Saab 93 at $5,200 in damage well more Americans are getting behind the wheel of a hybrid JD Power and Associate says sales of hybrid in the US are on track to hit a record high this year 345,000 hybrids are expected to be snapped up by Year's End that would be up 35% from last year and financing the American dream is slightly less expensive this week the rate on a 30-year fixed mortgage averages 6.68% while the rate on a 15-year loan came in at 6.32% and that's your money watch click on CBS news.com for more in New York I'm Alexis christopherus

Dow rises 150; British Airways pays $650M fine

CBS News

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[Music] investors are strapping themselves in for what could be another roller coaster ride on Wall Street stocks seesawed all day Wednesday as investors searched for Direction but a late day buying spree in the final minutes of trading sent the Dow up 150 points the NASDAQ added better than seven and better than expected earnings from Disney could add to the Market's positive momentum other earnings reports may also guide investors we hear later from companies including Viacom Eastman Kodak and Gateway High gas prices in a slumping housing market made for one dismal month for the Auto industry sales at Ford fell 19% in July GM posted an 18.5% drop and Chrysler sales fell 8% even sales at Asian Rivals Toyota and Honda slipped 7% each British Airways will pay $650 million in fines to settle a price fixing probe the airline admits to colluding with rival Virgin Atlantic on fuel search chargers for Long Haul flights officials say over a 4-year period British Airways passengers paid anywhere from10 to $120 more for their tickets because of the illegal cartel and American airlin says it will be the first US carrier to test high-speed internet service in Flight it will test the service next year on some Boeing 76700 jets that mostly fly transcontinental routes and that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus