Ford's Surprise: $1B Profit

FORD SURPRISED INVESTORS WITH A BILLION DOLLAR PROFIT LAST QUARTER. RESULTS WERE FUELED BY COST -CUTTING AND THE CASH FOR CLUNKERS PROGRAM.

FORD IS ALSO PREDICTING A SOLID PROFIT IN 20-11... THE LAST TIME IT HAD A PROFITABLE YEAR WAS IN 2005. FORD IS THE ONLY U-S AUTOMAKER THAT DIDN'T TAKE ANY GOVERMENT BAILOUT MONEY AND DIDN'T FILE FOR BANKRUPTCY. IT WILL ROLLOUT ITS OCTOBER SALES FIGURES TOMORROW, ALONG WITH THE REST OF THE AUTO INDUSTRY.

WALL STREET IS GETTING MORE SIGNS OF AN IMPROVING ECONOMY. A CLOSELY WATCHED GAUGE OF MANUFACTURING IS THE STRONGEST IN MORE THAN THREE YEARS...

AND CONSTRUCTION SPENDING JUMPED NEARLY ONE PERCENT IN SEPTEMBER THANKS TO A BIG INCREASE IN HOME BUILDING. ALL THAT HELPED BOOST STOCKS...WITH THE DOW GAINING 76 POINTS. THE NASDAQ ADDED 4.

CLOROX SAW A 23 PERCENT RISE IN ITS QUARTERLY PROFIT. IT WAS HELPED IN PART BY CONSUMERS STOCKING UP ON DISINFECTING PRODUCTS BECAUSE OF FLU WORRIES.

AND GAS PRICES ARE THE HIGHEST THEY'VE BEEN ALL YEAR, AVERAGING 2-70 A GALLON. OIL COMPANIES ARE BETTING A STRONGER ECONOMY WILL INCREASE A DEMAND FOR GAS. THE RISE IN GAS PRICES COULD FURTHER HURT CONSUMER SPENDING AS THE HOLIDAYS APPROACH, WITH BILLIONS OF DOLLARS BEING SPENT AT THE PUMP, INSTEAD OF THE STORES.

FOR MORE BUSINESS HEADLINES, HEAD TO CBSMONEYWATCH.COM. IN NY, I'M ALEXIS CHRISTOFOROUS.