Dow up 6%, Nasdaq up 10% for 2007; gold gains 30%
CBS News
Transcript
[Music] happy New Year Wall Street is closed today for the New Year's holiday investors finished off 2007 with a sell-off in the final trading session but the markets ended up higher for the year the Dow Jones Industrial Average finished the year up over 6% the tech havy NASDAQ fared better ending up nearly 10% for 2007 on Wall Street Monday the Dow lost 101 points the NASDAQ closed off 20 too with the recent volatility in the stock market investors are turning to gold as a safe bet gold had its biggest yearly gain in nearly three decades gold prices slip slightly on Friday to $837 an ounce that's still just $13 below the record high of 850 reached in 1980 and nearly a 30% gain for 2007 if you've got an extra bottle of bubbly left over from last night's celebration well you might just want to save it for next year analysts say some champagne could cost up to 30% more in 2008 the strong euro is partly to blame but growers in the Champagne region also say they are at maximum capacity right now and worldwide demand is higher than ever that's your money watch log on to cbsnews.com for more in New York I'm Carter Evans