Dow rallies 180 on McDonald's sales, OPEC output hike

CBS News

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[Music] a solemn day on Wall Street as Traders marked the sixth anniversary of the 911 attacks the trading day began with a moment of silence to honor those who lost their lives in the attacks when trading did get underway stocks soared as investors cheered good news from McDonald's and GM the Dow rallied 180 points the NASDAQ ran up 38 stocks also got a boost on news that OPEC has agreed to pump more oil to ease near record oil prices beginning November 1st the cartel will pump an additional 500,000 barrels of oil a day investors had an appetite for McDonald's stock the fast food Giants said August sales jump more than 8% thanks to strong demand for its chicken snack wraps iced coffee and breakfast items and General Motors stock was also in the fast lane today after the automaker said it needs fewer incentives to lure in buyers there could be a light at the end of the tunnel for the housing market the National Association of Realtors says tighter credit will keep a lid on home sales this year but the group believes housing will recover in 2008 the group also predicts home prices will slip nearly 2% this year before rebounding next year that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus

OPEC meets on oil quotas; Apple sells 1 millionth iPhone

CBS News

Transcript

[Music] investors will be focused on oil today as OPEC meets in Austria the cartel is weighing a push by some members to boost its oil production quota that's amid stubbornly high prices and an expected spike in demand later this year still many OPEC members say the current quota should stand on Wall Street Monday a volatile day ended mixed as investors wait and wonder if the Federal Reserve will cut interest rates at next week's meeting the Dow Rose 14 points but the NASDAQ slipped 6 and a half keep an eye on Apple's stock shares of the tech giant recouped nearly half their losses from last week after the company announced it sold its 1 millionth iPhone just 74 days after its launch meantime apple is reportedly considering bidding for wireless space at the upcoming FCC auction that could mean apple is looking to dump AT&T and offer its own wireless service and being a health risk could soon cost you employee Advocates are warning more companies may start penalizing workers with health issues like obesity and high blood pressure or cholesterol that's because new federal rules covering Wellness programs say companies can offer rewards and penalties based on health factors that do not exceed 20% of the total cost of employee health coverage that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus