U.S. stocks slump as investors continue to fret over Fed plans
Markets have been roiled since Fed chair's speech Friday reaffirming central bank's aggressive plans to cool inflation.
Gas Prices
Stocks close lower, adding to Friday's steep losses
Markets lost more ground after Powell's speech last week confirming more hikes: "We must keep at it until the job is done."
Inflation cools as U.S. consumer prices rose 6.3% in July
Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.
Powell says Fed could keep lifting rates "for some time"
While higher borrowing costs will hurt, failure to ease inflation "would mean far greater pain," Federal Reserve chief says.
The rise of side hustles amid inflation
CBS News' Anne-Marie Green and Errol Barnett talk with Alejandro Chavarria, Erin Welsh and Pamela Ortiz, who are each pursuing side hustles, as part of CBS News' Uncertain Economy series. More and more Americans are taking on extra work as they struggle to make ends meet amid rising gas and grocery prices due to inflation.
Latest GDP figure eases concern about imminent U.S. recession
New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.
Stocks fall sharply amid renewed inflation fears
S&P 500 suffers its biggest drop since June as investors fret over the Fed's effort to tame inflation.
U.K. inflation tops 10% on soaring food and energy costs
Britain's inflation rate soared to a new 40-year high, squeezing households. Economists expect it to get worse.
Target's profit craters after it cut prices to clear inventory
Retailer's profits plunge after it slashes prices to clear unwanted inventories of clothing, home goods and other items.
Walmart reports better-than-expected Q2 as Americans cut costs
The company is cutting prices to get rid of excess inventory after a huge shift in how Americans spend.
U.S. stocks up as investors focus on economy ahead of retail data
Walmart and Home Depot kick off a host of retail earnings reports on Tuesday, followed by Lowe's and Target.
U.S. stocks fly high, as S&P 500 ends 4th straight week of gains
Some investors believe inflation may have peaked, allowing Federal Reserve to be less aggressive with hikes.
Gas prices drop under $4 average
According to AAA, the national average price for a gallon of gas has dropped to $3.99. CBS News transportation correspondent Errol Barnett joins Carter Evans to discuss the latest.
Gas prices fall below $4 for first time since March
The average price for a gallon of regular gas fell below $4 for the first time in five months, according to AAA. The relief comes from an increase in global oil supply and a decrease in fuel demand. Errol Barnett takes a look.
Investors cheered by another sign U.S. inflation is easing
Economy is "experiencing a healthy deceleration, not a recession," Goldman Sachs analyst says.
Prices dropping across the U.S.
The national average gas price has dropped to below $4. Plus, wholesale prices dropped in July for the first time since April 2020. Jaime Quiros, senior portfolio manager at FBB Capital Partners, joins CBS News to discuss what these reports mean for the state of the economy.
Food costs hit highest inflation level in 40 years
Despite inflation slowing down in July, food prices are rising to levels not seen in more than 40 years. Yahoo Finance reporter Alexandra Semenova joins "CBS News Mornings" to discuss the latest.
Gas prices drop below $4 a gallon for first time since early March
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
MoneyWatch: Signs inflation is slowing
July's Consumer Price Index report showed a 8.5% annual inflation rate, down from 9.1% in June, which was the highest in over 40 years. The Wall Street Journal's Akani Otani joins CBS News with more on the economic impact.
U.S. stocks soar to 3-month high as inflation falls in July
Latest inflation data bolsters hopes that consumer prices have peaked and that the Fed can temper interest rate hikes.
Inflation rate declines a bit as gas prices drop
The annual inflation rate was 8.5% in July, a slight dip from the four-decade high of 9.1% in June. CBS News reporter Sarah Ewall-Wice breaks down what this means for American consumers.
Inflation rate down from 40-year high
The Consumer Price Index rose to 8.5% in the month of July, bringing inflation down from its 40-year high. Gas prices are falling, but the cost of food and rent are still increasing. Lori Bettinger, president of BancAlliance and the former director of the U.S. Treasury's Troubled Asset Relief Program, joined CBS News to discuss what this data means for the economy.
Parliamentarian alters drug plan in Inflation Reduction Act before Senate vote
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Drivers could soon see average gas prices hit $3.99 per gallon
Drivers have been cutting their miles traveled since March in response to high prices at the pump, one survey shows.
Gas prices continue to fall
Gas prices are continuing to decline from record highs earlier this summer. Laura Sanicola, a reporter covering energy, refining and renewables for Reuters, joins CBS News to discuss the reasons behind the price drop.
Guns, ammunition flowing from U.S. to Latin America and Caribbean
U.S. guns are fueling conflict in Latin America and the Caribbean.
Supreme Court tosses Facebook appeal in shareholder lawsuit
The Supreme Court issued its first opinion of the term, a one-line decision dismissing Facebook's appeal.
Trump selects Pam Bondi for attorney general after Gaetz withdraws
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
Texas to build new border wall section on land offered to Trump administration
The land offer highlights the divide between states and local governments on supporting or resisting Trump's mass deportation plans.
4.78 tons of cocaine, $193,000 in cash found in shipping containers
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
4 U.N. peacekeepers wounded as Israel, Hezbollah clash in Lebanon
Four Italian soldiers were lightly wounded amid clashes between Hezbollah and Israeli forces in southern Lebanon.
84-year-old Texas man accused of killing roommate and her dog
The man was arrested on an unrelated carjacking warrant and admitted to killing his roommate and her pet.
Replacing JD Vance in the U.S. Senate sets off scramble in Ohio
Sen. JD Vance's election as vice president has opened up one of Ohio's U.S. Senate seats.
Sheriff says Wisconsin man revealed how he faked his death, fled to Europe
Authorities are urging a Wisconsin man accused of faking his death and fleeing to Europe to come home to spend the holidays with his wife and three children.
U.S.
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Supreme Court tosses Facebook appeal in shareholder lawsuit
The Supreme Court issued its first opinion of the term, a one-line decision dismissing Facebook's appeal.
Sheriff says Wisconsin man revealed how he faked his death, fled to Europe
Authorities are urging a Wisconsin man accused of faking his death and fleeing to Europe to come home to spend the holidays with his wife and three children.
Replacing JD Vance in the U.S. Senate sets off scramble in Ohio
Sen. JD Vance's election as vice president has opened up one of Ohio's U.S. Senate seats.
84-year-old Texas man accused of killing roommate and her dog
The man was arrested on an unrelated carjacking warrant and admitted to killing his roommate and her pet.
Guns, ammunition flowing from U.S. to Latin America and Caribbean
U.S. guns are fueling conflict in Latin America and the Caribbean.
MoneyWatch
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Supreme Court tosses Facebook appeal in shareholder lawsuit
The Supreme Court issued its first opinion of the term, a one-line decision dismissing Facebook's appeal.
Bitcoin hovers around $100,000 as post-election rally rolls on
While some are bullish, other experts warn of investment risks as what comes next is impossible to know.
Trump's proposed tariffs could raise U.S. grocery prices, analysis finds
Donald Trump's proposed tariffs could raise costs for U.S. consumers, economists say. Here's how much grocery bills could rise.
BJ's Wholesale Club hikes membership fees for first time since 2018
Warehouse chain follows rival Costco in raising amount its 7.5 million members must pay to shop at BJ's stores.
Bezos denies Musk claim that the Amazon founder predicted Trump loss
Elon Musk and Jeff Bezos — the two richest people on the planet — are squabbling over social media. No, really.
Politics
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Supreme Court tosses Facebook appeal in shareholder lawsuit
The Supreme Court issued its first opinion of the term, a one-line decision dismissing Facebook's appeal.
Replacing JD Vance in the U.S. Senate sets off scramble in Ohio
Sen. JD Vance's election as vice president has opened up one of Ohio's U.S. Senate seats.
Georgia fires review board members after info leaked on 2 maternal deaths
Georgia's top health official dismissed all members of a state committee that investigates pregnancy-related maternal deaths after the leak, presumably by a committee member, of information about two such deaths.
Israel stands by as aid convoys come under attack in Gaza
A truck driver claims Israeli tanks and an Israeli drone watched as the aid convoy he was with was attacked in Gaza. But Israel's military says it is not responsible for protecting the aid.
Pete Hegseth meets with GOP senators to secure support for expected nomination
Former Fox News host Pete Hegseth was with Vice President-elect JD Vance on Capitol Hill on Thursday.
HealthWatch
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Anti-fraud efforts meet real-world test during ACA enrollment period
The federal government put guardrails in place to limit unauthorized plan sign-ups and switches. But the changes could prove to be a burden to consumers.
Life expectancy gap in the U.S. widens to 20 years: "Truly alarming"
Life expectancy in the United States varies by more than 20 years depending on race and ethnicity and where you live, according to new research.
RFK Jr. weighing FDA crackdown on food additives under Trump
Kennedy's team is weighing a significant rewrite of the FDA's rules.
Why the latest bird flu case has experts worried about pandemic potential
A new potential case of bird flu in a California child without known contact with infected animals is raising concerns about a potential pandemic. Dr. Céline Gounder explains what to know.
New cases of bird flu in U.S.
CBS News medical contributor Dr. Celine Gounder joins "CBS Mornings" to discuss the latest on bird flu as new cases raise alarms among health officials. There have been 53 confirmed human cases across seven states this year. Health officials in California are reporting a possible case in a child who had no known contact with an infected animal.
World
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4.78 tons of cocaine, $193,000 in cash found in shipping containers
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
4 U.N. peacekeepers wounded as Israel, Hezbollah clash in Lebanon
Four Italian soldiers were lightly wounded amid clashes between Hezbollah and Israeli forces in southern Lebanon.
2024 is deadliest year for humanitarian aid workers, U.N. says
Bloodshed in the Middle East has been the single biggest cause of the 281 deaths among humanitarians globally this year, according to the U.N. Office for the Coordination of Humanitarian Affairs.
Iran says it will boost uranium enrichment after IAEA rebuke
A rebuke of Iran led by the U.S. and its close allies at the global nuclear watchdog agency has drawn a vow by the Islamic republic to further ramp up uranium enrichment.
Emperor penguin found on Australian beach released at sea after 20 days of care
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
Entertainment
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Entertainment
Ridley Scott on his vision for "Gladiator II"
Nearly 25 years after the original "Gladiator" won five Academy Awards, Ridley Scott returns with "Gladiator II," out today. Elizabeth Palmer speaks with the director about bringing his epic vision back to life.
Melissa Etheridge to perform at NWSL Championship
Grammy-winning artist Melissa Etheridge will sing the national anthem at the 2024 NWSL Championship in Kansas City. Known for her hit "Come to My Window," Etheridge shares her excitement about the honor and the big game.
Connie Nielsen on returning to "Gladiator" after 24 years
Connie Nielsen opens up about returning as Lucilla in "Gladiator II," reuniting with director Ridley Scott and exploring her character's emotional journey.
Shelby Lynne on how personal struggles and friendships impacted her music
Singer-songwriter Shelby Lynne opens up about her new album and how her friendships helped save her when she thought her recording career could be over.
Malcolm Washington on "The Piano Lesson"
Making his feature directorial debut, Malcolm Washington brings August Wilson's Pulitzer-winning play to the screen with help from his father, Denzel Washington and siblings John David and Katia
Technology
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Technology
Australia could ban social media for kids
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
DOJ targets Google's search engine monopoly
The Department of Justice on Wednesday filed a motion calling for Google to sell its Chrome search engine, arguing in court documents that "the playing field is not level." The Justice Department is also recommending dissolving any contracts in which Google is the default search engine on devices such as iPhones. Kelly O'Grady explains.
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.
Bitcoin hovers around $100,000 as post-election rally rolls on
While some are bullish, other experts warn of investment risks as what comes next is impossible to know.
Bezos denies Musk claim that the Amazon founder predicted Trump loss
Elon Musk and Jeff Bezos — the two richest people on the planet — are squabbling over social media. No, really.
Science
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Emperor penguin found on Australian beach released at sea after 20 days of care
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
Iceland volcano flares in region's 7th eruption in one year
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
How collecting pine cones helps renew Oregon forests after wildfires
Conservationists are teaming up with the U.S. Forest Service and logging companies to clear scorched land and make room for new reforestation projects.
Restoring forests decimated by wildfires
Large wildfires fueled by climate change have destroyed tens of millions of acres of forests in the Pacific Northwest in recent years. Jonathan Vigliotti explores a major effort underway to restore those forests.
Giraffes need endangered species protection, U.S. officials say
The U.S. Fish and Wildlife Service has proposed new protections for giraffes, saying their populations are threatened by poaching, habitat loss and climate change.
Crime
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4.78 tons of cocaine, $193,000 in cash found in shipping containers
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
84-year-old Texas man accused of killing roommate and her dog
The man was arrested on an unrelated carjacking warrant and admitted to killing his roommate and her pet.
Georgia woman convicted of killing her toddler gets life in prison
Leilani Simon was spared the maximum punishment of life without a chance of parole.
Guns, ammunition flowing from U.S. to Latin America and Caribbean
U.S. guns are fueling conflict in Latin America and the Caribbean.
Alleged LA County drug distributor charged with dealing opioid more powerful than fentanyl
The U.S. Department of Justice filed charges in what could be the nation's first death-resulting criminal case involving a synthetic opioid that is possibly more dangerous than fentanyl.
Space
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Space
Trump, Musk attend SpaceX launch
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
SpaceX launches Super Heavy-Starship, with Trump there to watch
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Far side of the moon once had erupting volcanoes, lunar soil shows
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
When you can see the Beaver Moon, 2024's final supermoon
November's full moon, known as the Beaver Moon, is the last supermoon of 2024. Here's when it peaks and why it's called the Beaver Moon.
Astronauts decline to answer questions about post-flight medical issue
Medical issues aside, the astronauts described a water leak in June that triggered a blizzard in the International Space Station's airlock.
Latest Galleries
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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.
Serial killer Rodney Alcala's secret photos
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
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.
Evidence in "The Dexter Killer" case
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
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
Kansas City mayor on NWSL Championship
With the NWSL Championship set to take place in Kansas City, Mayor Quinton Lucas joins "CBS Mornings Plus" to talk about the event's importance and the city's commitment to promoting women's sports.
"Mornings Memory:" Soccer's rise in St. Louis
As Kansas City hosts the NWSL Championship, we revisit a 1971 report on soccer's rise in nearby St. Louis. Dana Jacobson connects the region's soccer roots to the big match ahead.
Kansas City's pop-art sculptures
Dana Jacobson explores the story behind the pop-art sculptures at the Nelson-Atkins Museum of Art. Once controversial, shuttlecocks, the museum's oversized badminton pieces, have become a beloved emblem of Kansas City's artistic and athletic spirit.
NWSL commissioner on future of women's soccer
NWSL commissioner Jessica Berman joins "CBS Mornings Plus" to talk about the NWSL's record-breaking season with over 2 million fans and discusses plans to build on the league's success. Despite pay disparities with men's sports, Berman says women's soccer is on a rapid upward trajectory.
Federal protection proposed for giraffes
U.S. wildlife officials have proposed federal protections for giraffes under the Endangered Species Act for the first time. According to environmentalists, habitat loss and climate change-driven drought are causing alarming population declines for the African mammals.