Dow surges 319 on falling oil, Walmart earnings, Goldman rebound

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it was a stampede of stock buyers on wall street as the dow enjoyed its best one day gain in two months and the nasdaq rallied three and a half percent falling oil prices strong earnings from walmart and a rebound in financial stocks led the charge the dow ran up 319 points its best gain since september the nasdaq rocketed nearly 90. shares of apple led the advance for tech stocks that's after china's largest cell phone carrier said it was in talks with apple to bring the iphone to china goldman sachs led a rebound in financial stocks after the wall street brokerage firm said it doesn't plan any significant write-downs due to subprime mortgage losses that helped ease market jitters about the credit crisis and crude oil tumbled back to 91 dollars a barrel after the international energy agency cut its forecast for global oil demand through 2008. on the docket today reports on wholesale inflation and retail sales for october marvel comics is taking a giant leap online putting over 2 000 comic book issues on the internet including the x-men captain america and fantastic four only some of marvel's favorites will be available and downloads will not be allowed that's your money watch be sure to visit cbsnews.com to track the latest business headlines in new york i'm alexis christophers

Merrill Lynch hires NYSE's Thain as CEO; Dow sinks 83

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[Music] Merill Lynch has a new leader John F CEO of the New York Stock Exchange has agreed to take the top job at the world's biggest brokerage Merl Lynch fired its former CEO two weeks ago after it was forced to write off nearly 8 billion in losses tied to the subprime mortgage mess on Wall Street stocks fell sharply in the final minutes of trading the Dow sank 83 points while the NASDAQ tumbled 29 Delta is denying rumors of a merger in the skies shares of both Delta and rival United rallied Tuesday on rumors of merger talks between the two carriers Delta denies any deal and says there are no ongoing talks Americans took fewer trips to the mall in October retail sales edged up a lackluster 2/10 of a percent as consumers struggled with Rising Energy prices and falling home prices and United Auto Workers at Ford have approved a 4-year contract deal that sets lower pay for some newly hired workers it also puts the company's retire healthc Care Program into a union run trust the contract wraps up negotiations for the UAW that prompted brief strikes at both GM and Chrysler that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus