Dow gains 77 on earnings; billions unclaimed phone tax refunds
CBS News
Transcript
[Music] The earnings parade kicks into high gear this week. Investors will be pouring over financial report cards from companies including Intel, Google, Yahoo, Croup, and Mattel. A slew of economic reports will also keep investors busy. Wall Street will get the latest news on everything from retail inflation to housing starts to the Federal Reserve's gauge of the economy. On Wall Street Friday, stocks ended the week on an up note thanks to some strong earnings news. The Dow rallied 77 points while the Nasdaq ran up 33. Americans are leaving billions on the table. That's the word from the government, which says taxpayers have collected only about half of the 8 billion the IRS expected to pay in a phone tax refund. The government is giving back the money after losing several lawsuits over the 3% telephone excise tax paid on long-distance or bundled services between 2003 and 2006. And government officials are weighing in on an email warning cell phone users that their numbers will soon be released to telemarketers. Officials say in an urban legend that just won't die. They say that cell numbers are not being released to telemarketers and that it is already illegal for telemarketers to use automated dialing to call cell phones. That's your money watch. Log on to cbsnews.com for more business headlines in New York. I'm Alexis Christopherus.