Yahoo and Facebook Team Up

Friday's plunge was the third-worst of the year. Plus: Yahoo and Facebook team up.

Yahoo and Facebook Team Up CBS MoneyWatch Ashley Morrison: Today Wall Street gets the latest time consumer credit and the Dow will open at it’s lowest level since February falling Friday’s plunge the third worst slide of the year. Investors are still afraid following Friday’s job support while the economy added 431,000 jobs in May temporary census position accounted for nearly all of them from the typical unemployed worker the average time to find a job has now reached nearly 5-1/2 months. Apple enthusiasts are on the edge of their seats today and at the company’s software conference CEO Steve Jobs is expected to unveil a new iPhone. The new version is expected to have a clear display a longer battery life and a front facing camera that can be used for video conferencing. Yahoo is teaming up with Facebook for a new facelift as part of the changes coming out this week, yahoo users will now have the capability to import personal updates from Facebook, meanwhile other new tools will let Facebook friends know what’s happening on yahoo including its photo sharing site flicker. Yahoo is trying to keep users on it’s site longer giving the company more opportunities to sell online adds and boost revenue. Connecting with Facebook is just the first step in Yahoo’s attempt to establish itself as a social hub. Later on this summer Yahoo intends to import personal updates posted on Twitter. That’s your Money Watch for more stay with CBS Money Watch.com in New York I’m Ashley Morrison.