Gas prices top $3.30, may hit $4; earnings season begins

CBS

Transcript

get ready for more pain at the pump gas prices Nationwide topped 330 a gallon last week and prices are expected to go even higher as gas supplies fall while demand Rises the energy Department expects gas prices to peak near 350 a gallon later this spring but many analysts predict prices could approach $4 gasoline supplies are falling in part because producers are cutting back on production because of the high cost of crude the more expensive crude is the more refiners have to pay and the lower their profits are corporate America's profit report cards will soon begin to flood Wall Street in addition to hearing first quarter results investors want to hear what company's profit predictions are for the rest of the year on Wall Street Friday investors Shrugged off the biggest monthly job loss in five years the Dow dipped 16 points but the NASDAQ added about eight on the docket this week the latest reading on consumer sentiment and it's not expected to be good last week a CBS News New York Times found 2third of Americans already believe we're in a recession that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus

Washington Mutual nears $5B lifeline; Yahoo holds out on Microsoft

CBS

Transcript

Wall Street was a buzz about a bunch of possible corporate deals but fears about what a new earning season will bring cut an early rally short in the end the Dow Rose three points while the NASDAQ dipped six shares of Washington Mutual soared nearly 30% on news the nation's largest savings and loan is close to Landing A5 billion cash infusion from a private Equity Group Washington Mutual suffered multi-billion dollar losses recently in the crumbling mortgage maret Market Yahoo says it's open to a merger deal with Microsoft but is insisting on more money Microsoft put in April 26th deadline on the table for the deal and threatened a hostile takeover at a lower price after the deadline passes Yahoo exec insists they will not accept an offer that doesn't properly reflect Yahoo's value if you've flown recently you know the skies are not so friendly an annual Airline quality survey finds Airlines lost more bags bumped more passengers and had fewer ontime flights last year compared to 2006 so it is no surprise to find that passenger complaints were up 60% with US Airways getting the most complaints top marks went to the discount carriers Air Tran JetBlue and Southwest and that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus