Tech earnings week; oil hits record $117

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investors will try to build on last week's big gains when they get back to work on Wall Street the tech sector will be in the spotlight this week with big names including Apple Microsoft Yahoo and Amazon reporting quarterly earnings also on the docket the latest news on the housing market and consumer sentiment on Friday Wall Street closed out the week with a big rally sparked by better than expected earnings from Google and City Group in the end the Dow ran up 229 points up 4% last week the NASDAQ shot up 61 to close the week 5% higher investors will also be watching the oil pits again after crude reached a new record high Friday topping $117 a barrel as Jitters over oil production in Nigeria outweighed a rally in the dollar airlines are hitting the brakes a new report found air travel is slower than at any time in the past 20 years some flights are over an hour longer because of growing congestion on the runway and in the air according to government records a iCal flight from Las Vegas to New York's Kennedy Airport last year took over 6 hours compared to 4 and 1/2 hours in 1988 that's your money watch log on to cbsnews.com for the latest business headlines in New York I'm Alexis christopherus

Gas hits record $3.50 a gallon; Dow falls 24 on BofA, Mattel

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there is no relief in sight for drivers the average price at the pump has now reached a record $3.50 a gallon Nationwide that's according to Triple A and with crude oil prices hitting yet another record high today topping $117 a barrel experts say gas prices will continue to rise on Wall Street disappointing earnings news from Bank of America and Mattel put an end to the recent Blue Chip rally the Dow lost 24 points but the NASDAQ managed to gain five the troubled economy isn't keeping Walmart down for the second straight year the discount retailer tops the Fortune 500 list of America's largest companies Walmart brought in nearly $380 million in Revenue last year Exxon Mobile was number two followed by Chevron Texico and American families are already dealing with Rising food and gas prices now they can add toys to that list Mattel the world's largest toy maker said the company will be raising prices for its Brands this summer you can expect to pay 7 to 8% more for Hot Wheels and Elmo the company says the price hike is necessary to offset Mattel's big first quarter loss and that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus