Dow soars 257 on JPMorgan, Coke, Intel earnings; oil hits $115
CBS
Transcript
Wall Street was in rally mode strong earnings news from JP Morgan Chase Coca-Cola and Intel put investors in a buying mood and raised hopes that the economy is recovering from the credit crisis in the end the Dow soared 257 points than NASDAQ climbed 64 the economy weakened further in the early spring according to the Federal Reserve latest survey it showed consumers are getting housing and credit collapses and a weaker job market home builders way back in March construction of new homes and apartments plunged 12% Nationwide to the lowest level in 17 years building permits dropped 6% a sign the Slowdown will continue in the coming months and there is no relief in sight from the pain at the pump the national average is now a record 339 a gallon much of that rise is because of a spike in crude prices which hit another record today topping $115 a barrel on continued Supply worries that's your money watch log on to CB s news.com for more in New York I'm Alexis christopherus