Fed warns of slower growth; oil nears $100 a barrel
CBS
Transcript
the Federal Reserve sees more trouble ahead for the economy the housing slump and credit crunch has the Fed predicting slower economic growth and a slight bump up in unemployment next year crude oil is now within striking distance of a hundred dollars a barrel a declining dollar and news of refinery problem sent oil above ninety eight dollars there was an unexpected rebound in housing construction in October the government says building was up three percent it's the first increase in three months but housing permits at a 14-year low all of that news had investors searching for direction and after some wild swings the Dow Industrials finished up 51 points the nasdaq composite gained more modest three forget black friday how about starting your shopping thanksgiving day walmart will post online only deals thanksgiving day Kmart is open on thursday and dozens of malls nationwide will open their doors at midnight call it proof Detroit can build a world-class sedan motor trend magazine has named the new Cadillac CTS its 2008 Car of the Year saying after years of focusing on SUVs Detroit is back in the car business the CTS has a base price of thirty three thousand dollars that's your money watch log on to cbsnews.com for more in new york i'm alexis crystal forest