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Thursday, May 29, 2008

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Auto Industry: Trust Me, There Are Reasons To Be Optimistic

Gas prices are soaring, SUV values are tanking, and Detroit is bracing for the possibility of more job cuts. But as Phil LeBeau blogs, there are several reasons to see the "sunny" side of the auto industry... Click here to read more.

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HURRICANE HYPOTHESIS: Hurricane season begins on Sunday, June 1, and forecasters are again predicting an active one. If they're right, it comes at the worst possible time for the nation's economy, and could exacerbate America's oil crisis. Scott Cohn reports live from a Louisiana refinery on what a "worst case" storm could do to the economy and markets and how one major oil company prepares for big hurricanes.

TRADING STORMS: Wanna play the hurricane trade? Not only can you speculate with oil contracts, you can buy hurricane index future contracts to hedge bets on the upcoming season. Sharon Epperson explains how they work and who could benefit.

LUNG CANCER, FRONT AND CENTER: It's rare that lung cancer is the star of the stage at ASCO, but this year it's front and center. Why is it a big deal? Because lung cancer is still largely stigmatized (because of smoking) and doesn't get as much attention because patients don't live long enough to be a lobbying force (like breast cancer). But this year ImClone will be headliner, with data on the company's Erbitux effectiveness. Investors anxiously wait to see how much the drug may have extended peoples' lives.

THE FINAL STRETCH: Next week marks the last week of primaries, and Hillary Clinton is sweating it out, but hanging on until the final votes are cast. While Obama and McCain begin quietly considering running-mate possibilities. John Harwood previews the anxious week ahead.

S-P-E-L-L-I-N-G B-E-E: It's that time of year again, when America tunes into hear the nation's little geniuses spell their hearts out on live television. This year, the National Spelling Bee will be broadcast in primetime on ABC and they're banking on big ratings. Darren Rovell reports.

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