Dow surges 187 on Bear Stearns deal; home resales tick up
CBS
Transcript
investors will try to keep the rally alive on Wall Street Stock soared after JP Morgan chased up its bid for Bare Sterns to $10 a share the Dow surged 187 points the NASDAQ gained 68 the first jump in home resales in 6 months also helped the markets but a steep drop in home prices backed up predictions that the housing market has not yet hit bottom today investors will be pouring over the latest consumer confidence report looking for signs that Americans will keep spending despite economic worries but a new poll holds little hope that Americans will spend the tax rebate checks designed to jumpstart the economy the survey found 41% planed to use the money to pay bills while 32 will put it in savings just 21% of those pulled say they spend the money a satellite radio team up is one step closer to a reality the justice department gave the XM serious merger the green light saying the deal won't hurt consumers the $4 billion merger still needs FCC approval Google is trying to provide affordable wireless internet access to the entire nation the internet giant presented the FCC with its plan to turn TV whitespace the unused TV Airwaves into a nationwide wi-fi system TV broadcasters oppose use of the whites space because it might interfere with television signals that's your money watch log on to cbsnews.com for more in New York I'm Allison Harlan