Bush touts economy as Dow jumps 153 on Cisco
CBS News
Transcript
[Music] the US economy is thriving that's what President Bush told reporters Wednesday when he weighed in on the recent stock market turbulence on Wall Street Bush said he believes the markets will work their way through safely and Achieve what he calls a soft Landing the president added the underpinnings of our economy are strong and expressed confidence that investors would eventually calm down and focus more on the economy's fundamentals while the Bulls stampede Wall Street for a third straight day after Cisco Systems raised its sales forecast recently beaten down bank and Home Builder stocks rebounded as concerns about mortgage losses begin to diminish the DOW Industrials shot up 153 points the NASDAQ raised ahead 51 and shares of Martha Stewart Living are in the spotlight after an analyst upgraded the stock the be Sterns analyst said the company should benefit from the launch of Martha Stewart branded products at Macy's and the debut of food products at Costco in the fall shares of hey hit the skids falling 50% Wednesday the company that makes athletic styled shoes with wheels built into the souls warned that the rest of the year including the critical back to school season would be difficult heles is trying to Branch out into other product lines including apparel that's your money watch for more business headlines be sure to log on to cbsnews.com in New York I'm Alexis christopherus