Fed rate cut expected; Visa profits surge 28%
CBS
Transcript
Wall Street is watching this week's earnings reports and the Federal Reserves policy meeting the FED is expected to lower short-term interest rates Wednesday for the seventh time in eight months worries about interest rates kept pressure on stocks Monday the Dow lost 20 points the NASDAQ Composite ticked up a point and a half Visa delivered a strong earnings report income grew 28% in the first quarter it brought in $314 million a chunk of it came from increasing fees MasterCard Countrywide Financial and CBS will deliver their financial report cards later today and it is a big day for video game fans Grand Theft Auto 4 hit store shelves today some stores opened at midnight for what's expected to be one of the biggest debut in video game history sales are expected to exceed $400 million in the first week topping Halo 3 which smashed the previous record of $300 million and that's your money watch log on to CBS News for more in New York I'm Alexis christopherus