Marketplace 10/29/2004

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The week that was on Wall Street
Host David Brown catches up with Dallas Stockbroker and analyst David Johnson about the week on Wall Street.
Special Report: The Crash of 1929
Seventy-five years ago today - on October 29th, 1929 - the stock market crashed. On that day - "Black Tuesday" as it came to be known - the Dow Jones Industrial Average fell nearly 12 percent. And that was just the beginning. The Dow would eventually bottom out in July of 1932 at 41 points. That's right - 41. By then investors had lost billions and the country was in the throes of its worst financial crisis ever. Today, Marketplace's Matthew Algeo takes a special look back at Black Tuesday, a day that triggered monumental changes in America's financial markets - and in America itself.

The last big economic number before election day... The Commerce Department says the economy expanded at a faster pace this summer than in the spring - an annual rate of 3.7 percent. But experts had been projecting growth in the 4.3 percent range. Perhaps that somewhat disappointing performance has something to do with consumer confidence. A closely watched report from the University of Michigan released today says oil prices were damping consumer spirits last month...
The NAACP, which has been sharply critical of President Bush, says the Internal Revenue Service is now questioning its tax-exempt status. The cvil rights group is accusing the Bush administration of making "blatant political use of the IRS."