Stocks fall as fears of recession increase
The stock market took a big slide Monday following a lackluster jobs report and growing fears of a recession in the next year. Jo Ling Kent breaks down what it all means.
Federal Reserve
Dow, S&P 500 see worst daily loss since 2022
Fears of a U.S. economic slowdown sent markets falling at the start of the trading week on Monday, with markets in Asia and Europe falling as well. CBS News senior business and tech correspondent Jo Ling Kent has more from New York.
What's driving the global market sell-off?
Stocks plunged Monday amid fears that the U.S. is entering the early stages of a recession, with the Dow Jones falling 2.6 percentage points. CBS News senior business and tech correspondent Jo Ling Kent examines what's driving the global economic uncertainty.
Here are the odds of an emergency rate cut from the Federal Reserve
The last time the Federal Reserve enacted an emergency rate cut was in March 2020, when the pandemic caused an economic shutdown.
Stock market suffering disastrous day
U.S. markets are taking a hit Monday with the Dow falling over 1,000 points to start the day and semiconductor stocks like Nvidia and Intel dipping over 7%. Overseas, Japan's market had the worst day in its history, dropping over 12%. CBS News contributor J.D. Durkin has more.
Stocks drop following weak July jobs report
The stock market plunged Friday after a weaker-than-expected July jobs report raised fears of a slowing economy. But should Americans actually be worried about the sell-off? CBS News contributor JD Durkin joins to discuss.
Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring
Signs that the job market is slowing down are renewing investor concerns that the U.S. economy is losing steam.
Fed chair defends holding off on rate cuts
The Federal Reserve said Wednesday it is leaving its benchmark interest rate unchanged. The announcement means policymakers will hold the federal funds rate between 5.25 and 5.50%, the highest level in 23 years. Martin Baccardax, senior editor and chief markets correspondent for TheStreet, joins CBS News to examine the decision.
Federal Reserve holds interest rates steady
The Federal Reserve left the benchmark federal funds rate unchanged Wednesday. Experts still believe the Fed's September meeting could lead to cuts. CBS News business analyst Jill Schlesinger and CBS News contributor Javier David break down the decision.
The Fed holds interest rates steady. Here's when to expect a cut.
The Federal Reserve is leaving its benchmark interest rate unchanged as investors look for signals that a cut is imminent.
Federal Reserve decision coming
The Federal Reserve will announce a decision Wednesday on potential interest rate cuts as inflation appears to cool. CBS News contributor Javier E. David has more on what economists expect.
Fed to make interest rate decision
Federal Reserve Chairman Jerome Powell will announce the agency's decision on interest rates Wednesday with cuts not yet expected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for the New York Times, joined CBS News to discuss the Fed.
The Fed set to issue decision on interest rates. Here's what to expect.
The Federal Reserve is meeting July 30-31 to discuss its benchmark rate. Here's what economists say about the impact on your money.
Economic growth accelerates in 2nd quarter
The Commerce Department says the nation's gross domestic product, or GDP, rose at an annual rate of 2.8% from April through June. That's more than the 1.9% rate economists had expected for the second quarter. Jeff Stein, White House economics reporter for The Washington Post, joins CBS News to explain what the GDP growth says about the economy, and how the Federal Reserve could read the data.
How is the U.S. economy doing?
The U.S. economy grew more than expected in the second quarter of 2024, according to new data, although it is still down compared to the second half of last year. CBS News senior business and tech correspondent Jo Ling Kent breaks down the numbers.
Inflation slows more than expected in June
Labor Department data released Thursday showed the annual inflation rate cooled from 3.3% in May to 3% in June. That's lower than the 3.1% rate some economists had projected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for The New York Times, joins CBS News to unpack the report.
Fed's Powell says "more good data" could open door to rate cuts
Federal Reserve Chair Jerome Powell told a Senate panel that the economy has returned to its pre-pandemic level: "strong, but not overheated."
Job market cools but remains resilient, report shows
The U.S. added 206,000 new jobs in June, marking a slight cooling in the labor market, but still a sign that hiring remains strong. Michael George has more on what this could mean for interest rates moving forward.
June jobs report and labor market change
The U.S. added 206,000 jobs in June and the unemployment rate rose to 4.1%, according to new data from the Labor Department's Bureau of Labor Statistics. CBS News senior business and technology correspondent Jo Ling Kent breaks down the numbers and if they mean a potential interest rate cut in the fall.
What to look for in the U.S. government's June jobs report
Forecasters expect job numbers on Friday to show slower hiring in June, clearing the way for the Fed to cut interest rates later this year.
Voters feeling frustrated with inflation
The latest CBS News poll found that 72% of Americans say higher prices have been a hardship or more difficult, and 63% rate the economy as fairly bad or very bad. Mark Strassmann on how voters are feeling amid the signs that inflation is cooling — but not fast enough for many Americans.
The state of inflation in the U.S.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
Inflation eases as Fed holds rates steady
The Federal Reserve left interest rates unchanged Wednesday after the government announced consumer prices in May rose 3.3% year over year. The central bank has been hesitant to cut rates due to inflation. Ben Casselman, economy reporter for The New York Times, joins CBS News to unpack the data.
Federal Reserve holds interest rates steady
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
The Fed expects only one rate cut this year amid sticky inflation
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Plane crash in Kazakhstan killed dozens but some 32 survived, officials say
Mobile phone footage circulating online appeared to show the Azerbaijani aircraft making a steep descent before slamming into the ground in a fireball.
Pope shares Christmas message, marking start of church's Holy Year
Pilgrims lined up to walk through the great Holy Door at the entrance of St. Peter's Basilica in Rome as Christmas marks the start of the 2025 Holy Year celebration.
Biden signs 50 bills into law on Christmas Eve
Among them are Paris Hilton's bill to protect institutionalized teenagers and one addressing hazing on college campuses.
Zelenskyy calls Russian Christmas Day missile and drone attack "inhumane"
A massive Russian missile and drone barrage on Ukraine's energy infrastructure on Christmas morning was "inhumane," Ukrainian President Zelenskyy said.
No winning tickets sold for Mega Millions $1 billion Christmas Eve jackpot
No Mega Millions player won the $1 billion Christmas Eve jackpot, so the grand prize for Friday night's drawing will be an estimated $1.15 billion.
Manhunt for "desperate" murderer who escaped from Mississippi prison
Authorities in Mississippi are searching for Drew Johnson, a convicted killer they say escaped from prison Tuesday, describing him as "desperate" and "very dangerous."
Bill Clinton discharged from hospital after being treated for flu
Former President Bill Clinton was released from a hospital in Washington. D.C., on Christmas Eve, following an overnight stay for treatment of a fever and flu.
Suspect who allegedly set woman on fire in subway fanned flames, prosecutors say
Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.
2 fishermen missing after boat crashes off Southern California coast
The 25-foot boat was found crashed and overturned in a rocky area at the base of the cliffs between Bluff Cove and Lunada Bay in Palos Verdes Estates.
U.S.
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Manhunt for "desperate" murderer who escaped from Mississippi prison
Authorities in Mississippi are searching for Drew Johnson, a convicted killer they say escaped from prison Tuesday, describing him as "desperate" and "very dangerous."
Is anything open on Christmas Day? Here's what's open and closed.
Last-minute grocery items and gifts can be found on Christmas Day, but many retailers and chains may be closed today.
Hanukkah this year starts on Christmas Day in rare occurrence
The eight-day Jewish holiday of Hanukkah starts on Christmas Day in 2024, an occurrence that happens very infrequently.
Former Philadelphia Eagles running back pleads guilty to fraud charges
Former Philadelphia Eagles running back Wendell Smallwood Jr. pleaded guilty to federal fraud charges.
Biden signs 50 bills into law on Christmas Eve
Among the new laws signed by President Biden are Paris Hilton's bill to protect institutionalized teenagers and a bill to address hazing on college campuses.
MoneyWatch
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Is anything open on Christmas Day? Here's what's open and closed.
Last-minute grocery items and gifts can be found on Christmas Day, but many retailers and chains may be closed today.
Starbucks strike shuts down hundreds of locations
More than 5,000 workers were expected to take part in walkout that ends later on Christmas Eve, their union says.
Netflix carrying 2 NFL games on Christmas Day. It's a big step.
Netflix will have one of its biggest days Wednesday since the site launched in 1998 when it airs two NFL games for the first time.
What's open on Christmas Eve 2024? Stores you can visit today.
Here's which food stores, restaurants and other chains are open and closed today, Christmas Eve 2024.
Panel fails to reach consensus on national security risk of U.S. Steel sale
A government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel to purchase U.S. Steel.
Politics
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Biden signs 50 bills into law on Christmas Eve
Among the new laws signed by President Biden are Paris Hilton's bill to protect institutionalized teenagers and a bill to address hazing on college campuses.
Bill Clinton discharged from hospital after being treated for flu
Former President Bill Clinton was released from a hospital in Washington. D.C., on Christmas Eve, following an overnight stay for treatment of a fever and flu.
Biden signs defense bill, despite ban on transgender health care for military kids
President Biden has signed the annual defense authorization bill into law.
Key parts of Arkansas law allowing criminal charges vs. librarians struck down
A federal judge struck down key parts of an Arkansas law that would have allowed criminal charges against librarians and booksellers for providing "harmful" materials to minors.
Biden vetoes 66 new federal judgeships, blames "hurried action" by House
President Biden vetoed an effort to add 66 federal district judgeships, saying "hurried action" by the House left important questions unanswered.
HealthWatch
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HealthWatch
FDA raises urgency of Costco egg recall
The FDA has raised the level of a Costco egg recall, warning of the risk of severe illness or death due to potential salmonella contamination. Over 10,000 cartons of Kirkland brand organic eggs sold at stores across the South are affected. Customers are urged to discard or return eggs marked with Julian code 327 and a use-by date of Jan. 5, 2025.
Expert tips to support your immune system
With flu levels rising, Dr. Rabia De Latour shares ways to support your immune system and stay healthy during the holidays.
How to stay healthy during holiday gatherings
Seasonal illnesses are increasing just days away from the holidays. The CDC reports positive flu tests are up 9% in the most recent week and cases of whooping cough are six times last year's rate. Dr. Susannah Hills, an ear, nose and throat specialist at Columbia University Medical Center, explains how to stay safe.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Are you contagious? Here's when you're most likely to spread COVID, flu, RSV
How long are you contagious after getting COVID, flu, RSV, pneumonia and more? Here's what to know to keep others safe this holiday season.
World
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Pope shares Christmas message, marking start of church's Holy Year
Pilgrims lined up to walk through the great Holy Door at the entrance of St. Peter's Basilica in Rome as Christmas marks the start of the 2025 Holy Year celebration.
Zelenskyy calls Russian Christmas Day missile and drone attack "inhumane"
A massive Russian missile and drone barrage on Ukraine's energy infrastructure on Christmas morning was "inhumane," Ukrainian President Zelenskyy said.
Plane crash in Kazakhstan killed dozens but some 32 survived, officials say
An Azerbaijani airliner with 67 people on board crashed in western Kazakhstan, killing dozens, but at least 32 people survived, according to officials.
At least 2 journalists killed in shooting during hospital reopening in Haiti
The suspected gang attack occurred when journalists were covering the reopening of Port-au-Prince's biggest public hospital on Christmas Eve.
Russian cargo ship sinks in Mediterranean after engine room blast
The ship sank in the Mediterranean Sea between Spain and Algeria following an explosion in the engine room, officials said.
Entertainment
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Entertainment
Angel Blue on Met role debut in "Aida" and Opera journey
Angel Blue, who was recently named Classical Music's "Vocalist of the Year," is set to perform the title role in "Aida" at the Metropolitan Opera. Known for her Grammy-winning performances, Blue will take the stage in New York beginning on Dec. 31. She joins "CBS Mornings Plus."
Netflix carrying 2 NFL games on Christmas Day. It's a big step.
Netflix will have one of its biggest days Wednesday since the site launched in 1998 when it airs two NFL games for the first time.
Prosecutor drops appeal, ending case against Alec Baldwin in "Rust" shooting
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
Denzel Washington gets minister's license at Harlem church
Just shy of his 70th birthday, Denzel Washington has a new line to add to an already impressive résumé.
Burt, the famous croc from "Crocodile Dundee" movie, dies in Australia
Burt, the iconic Saltwater crocodile that appeared alongside Paul Hogan and Linda Kozlowski in the hit movie, was believed to be more than 90 years old.
Technology
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Technology
AI features dominating tech heading into 2025
New artificial intelligence features appeared across the tech landscape this year, from the latest iPhone to chatbots like Google's Gemini. Adam Auriemma, the editor-in-chief at CNET, joins CBS News 24/7 with more.
Researchers develop robot to help people walk
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Holiday shoppers on the lookout for big TVs
TVs are some of the most popular items to fly off store shelves during the holidays. But this year, experts say shoppers are going bigger than ever. CBS News' Jeff Wagner explains.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Science
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2,600-year-old shipwreck is raised from waters off Spain
An ancient shipwreck that dates back to the 7th century B.C.E. has been removed from waters off Spain, two decades after its discovery in 1994.
What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
Crime
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Manhunt for "desperate" murderer who escaped from Mississippi prison
Authorities in Mississippi are searching for Drew Johnson, a convicted killer they say escaped from prison Tuesday, describing him as "desperate" and "very dangerous."
Former Philadelphia Eagles running back pleads guilty to fraud charges
Former Philadelphia Eagles running back Wendell Smallwood Jr. pleaded guilty to federal fraud charges.
Suspect who allegedly set woman on fire in subway fanned flames, prosecutors say
Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.
Luigi Mangione pleads not guilty
Luigi Mangione, accused of killing UnitedHealthcare CEO Brian Thompson, appeared in court in New York City and pleaded not guilty to murder and terrorism charges. His lawyer criticized what he called the case's political nature as Mangione was led into the hearing with his hands shackled.
Prosecutor drops appeal, ending case against Alec Baldwin in "Rust" shooting
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
Space
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Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
Passenger airliner crashes in Kazakhstan
A passenger airliner crashed this morning in Kazakhstan after a bird strike caused an emergency. Dramatic video shows the plane plummeting before bursting into flames, but officials say more than 30 of the 67 people on board survived.
Pope Francis delivers Christmas blessing
Pope Francis gave his traditional Christmas Day blessing and address to the world this morning from his balcony at St. Peter's Basilica, after striking a somber tone at last night's Christmas Eve Mass. He urged Christians to reflect on global conflicts.
FDA raises urgency of Costco egg recall
The FDA has raised the level of a Costco egg recall, warning of the risk of severe illness or death due to potential salmonella contamination. Over 10,000 cartons of Kirkland brand organic eggs sold at stores across the South are affected. Customers are urged to discard or return eggs marked with Julian code 327 and a use-by date of Jan. 5, 2025.
Trump threatens to take over Panama Canal
President-elect Donald Trump is threatening to take over the Panama Canal unless it cuts the price it charges for ships to pass through the key shipping lane. Trump is also again floating the idea of buying Greenland, which he also suggested during his first term. Kelly O'Grady reports.
Mega Millions jackpot hits $1 billion
The Mega Millions jackpot has soared to an estimated $1 billion for the drawing on Christmas Eve. It's only the seventh time in the game's history the jackpot has hit that mark. Dave Malkoff has more.