A rise in industrial production was enough to give Wall Street a boost, as the Dow climbed more than 1%. Plus: A survey finds home builders have grown more optimistic.
>> Alexis Christophorus: Wall Street rallied on the latest evidence that the worst of the recession is behind us. Factories are increasing production of everything from cars to clothing and it could be a sign that consumers are ready to start loosening the purse strings. Also a survey of the nation's home builders found the industry is growing more optimistic; with that news the market has posted gains in 8 out of the past 9 trading days. The Dow rocketed 108 points, the NASDAC jumped 30. It's been exactly 1 year since the government bailed out insurance giant AIG saying that company was too big to fail but a new poll finds American's are strongly against that kind of intervention. 60% say were are opposed to the bailouts that saved AIG and the mortgage giants Freddie Mac and Fannie May even if the company's failures would cost jobs and hurt the economy. Well at least the weather cooperated this summer for the nation's corn farmers they are up to their ears with one of the biggest corn harvests ever, about 13 billion bushels. That helps both farmers and cattle producers since it brings down the cost of feed but sweet corn lovers aren't in for a deal at the grocery store; labor and transportation costs are what effect those prices the most. For more business headlines just log onto CBSmoneywatch.com. In New York I'm Alexis Christophorus.
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