Obama: economic 'glimmers of hope'; Goldman Sachs profit beats
CBS
Transcript
President Obama delivered a major speech on the economy speaking at Georgetown University the president said that we're not out of the woods but that there are glimmers of hope those comments echo the powerful chairman of the Federal Reserve Ben Bernanke said today that there are tentative signs that the recession may be easing but he says any long-term improvement depends on whether the financial system can make things right again so far so good for Goldman Sachs the company reported a much better than expected profit in the first quarter but it stopped dropped ten percent on news that the company wants to be the first major bank to repay the government's bailout money the rest of the market followed suit with the down losing 137 points the Nasdaq dropped 27 the markets were also shaken by news that retail sales dropped unexpectedly last month by 1.1 percent that's a sign that Americans are still holding tight to their purse strings fans of the New York Mets might open those purses for a crack at some of the best seats in the stadium Bernie Madoff season tickets are going up for auction on eBay they're in the eighth row at the new citi field valued at sixty thousand dollars the money will go to victims of Madoff's giant Ponzi scheme for more business news go to CBS moneywatch.com at the new york stock exchange I'm Karen Brown