Dow hits record high as investors cheer Fed outlook on interest rates
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
The Labor Department says the rate of inflation — which measures how much prices are rising — fell to 3.2% in October. Frances Stacey, director of strategy at Optimal Capital, joins CBS News to discuss what this means for your wallet and the country's financial outlook.
The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Officials want more data to be confident that inflation is abating, according to the minutes of their July 25-26 meeting.
The nation's GDP grew at an annual rate of 2.4% from April to June 2023 -- a faster rate than many economists predicted. Lori Bettinger, president of Bancalliance, joined CBS News to discuss what the new figure means for the state of the economy.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Inflation cooled in June to 3%, the lowest in more than two years, according to the U.S. Labor Department's Consumer Price Index. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what this means for consumers and whether the Federal Reserve will continue to raise rates.
Unemployment numbers arrived Thursday morning with new claims decreasing over the past week. CBS News' Sarah Ewall-Wice has more on that and comments about inflation from Fed Chair Jerome Powell.
Federal Reserve Chairman Jerome Powell told lawmakers on Capitol Hill on Wednesday the country remains a "long way away" from reaching its goal in the fight against inflation. CBS News political and economics reporter Sarah Ewall-Wice has more.
For the first time since March 2022, the Federal Reserve will not be raising interest rates. J.D. Durkin, on-air host for digital financial news platform TheStreet, joins CBS News to discuss the Fed's path forward.
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Stocks closed relatively flat as investors reacted to new consumer debt and mortgage data. Sanders Morris Harris chairman George Ball spoke with CBS News about what the numbers mean for investors and the economy.
The Dow Jones ended the day in the red Thursday, as investors react to new consumer price index and producer price index data. Opus: Advice First CEO Nancy Daoud spoke with Lana Zak and Errol Barnett about what the new numbers mean for the economy.
Stocks closed flat Tuesday as investors await an agreement on the federal debt ceiling and new economic data on inflation. AlphasFuture founder and investment manager Geetu Sharma joined CBS News to discuss what the new information will mean for investors.
Federal Reserve Chair Jerome Powell began a press conference Wednesday saying "the U.S. banking system is sound and resilient." Yet several regional bank shares were on the decline Thursday. Wall Street Journal banking reporter Gina Heeb breaks down the possible implications for the economy.
The Dow Jones fell more than 200 points Thursday as regional bank stocks plummeted. Wall Street Journal banking and finance reporter Ben Eisen spoke with CBS News' Lana Zak and Errol Barnett about what the development means for investors.
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Stocks fell Wednesday after the Federal Reserve raised U.S. interest rates by a quarter of a percentage point. Wall Street Journal economics reporter Harriet Torry spoke with CBS News about how the increase impacts investors and consumers.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
A decision is expected Wednesday from the Federal Reserve on whether to raise interest rates again. CBS News reporter Sarah Ewall-Wice joined CBS News' Anne-Marie Green to discuss what to expect from the Fed and what Democratic lawmakers could do in regard to interest rates.
The Federal Reserve is expected to hike interest rates again in an attempt to lower high inflation rates. Jeanna Smialek, Federal Reserve and economy reporter at The New York Times, joins "CBS News Mornings" to explain the impact of the previous rate hikes and why they've continued.
The United Nations and other agencies have warned for weeks that an Israeli assault on Rafah, which borders Egypt near the main aid entry points, would cripple humanitarian operations
Nemo beat Croatia's Baby Lasagna to the title by winning the most points from a combination of national juries and viewers around the world.
Kennedy said he now supports abortions up until the point of fetal viability.
A line of family, friends and loved ones filled a North Texas home to celebrate Viola Ford Fletcher's birthday.
At the same time, the three are accusing each other of being pro-transgender.
The Massachusetts man who received the first pig kidney transplant in the world has died.
Nearly two decades after an intoxicated and half naked William Greer confessed to killing Tammy Myers, her daughter is determined to see her mother's killer brought to justice.
After being stabbed in the face, neck and chest, Donna Ongsiako mustered the strength to climb up a staircase, call 911 and describe her unlikely attacker for investigators.
The experience backcountry skier was traveling on Donaldson Peak in Idaho's Lost River Range when they triggered a slope collapse.
Nearly two decades after an intoxicated and half naked William Greer confessed to killing Tammy Myers, her daughter is determined to see her mother's killer brought to justice.
The armed suspect died during the encounter, police said.
After being stabbed in the face, neck and chest, Donna Ongsiako mustered the strength to climb up a staircase, call 911 and describe her unlikely attacker for investigators.
Kennedy said he now supports abortions up until the point of fetal viability.
The men were among 31 soldiers killed when their C-46 transport plane hit a cliff while attempting to land in Okinawa, Japan on Aug. 13, 1945
A'ja Wilson, of the Las Vegas Aces, has joined a roster of women athletes who have partnered with Nike to develop signature collections.
The $5 meal could include a choice of a McChicken, a McDouble or four-piece chicken nuggets along with fries and a drink.
Due to bankruptcies and other problems, retailers plan to close almost 3,200 stores this year, up 24% from a year ago.
Huy Fung Foods said its peppers are "too green" to make its signature sriracha sauce, forcing it to suspend production until September.
Annual wildfires and flooding are keeping major insurance companies from covering homeowners in California and Florida.
Kennedy said he now supports abortions up until the point of fetal viability.
At the same time, the three are accusing each other of being pro-transgender.
Minnesota officially adopted its new state flag on Saturday, making the old flag history. So what happens to the old flag now that it is obsolete?
Michael Cohen's testimony in former President Donald Trump's criminal trial in New York suggests the prosecution is reaching the home stretch of its case.
The highly anticipated State Department report doesn't formally conclude Israel is in violation of U.S. or international law.
Eighty-four million Americans had a mental disorder in 2022, while 34 million people had a substance use disorder. About 11 million people dealt with both, but many did not receive professional treatment, partially because of a persistent stigma leading to silence and shame around mental health problems. Michelle Miller reports on how former congressman Patrick J. Kennedy and author Stephen Fried are hoping to make change with their new book.
Some states are cracking down on claims by anti-abortion rights organizations that offer "abortion pill reversal" treatment.
The parents of a U.K. toddler say it's "absolutely mind-blowing" to see their daughter, enrolled in a gene therapy trial, hear for the first time.
Some of the strains in the "FLiRT" group are closely related to the JN.1 COVID variant from last winter.
Seattle Mayor Bruce Harrell said that the facility would be supported by the Seattle Fire Department's overdose response team.
Nemo beat Croatia's Baby Lasagna to the title by winning the most points from a combination of national juries and viewers around the world.
The European Broadcasting Union said Swedish police were investigating "a complaint made by a female member of the production crew" against Klein.
Tens of thousands of transborder students — some as young as kindergarteners — cross the border from Mexico into California, Arizona, New Mexico and Texas to pursue an education in the United States.
While officials worked to keep politics out of the event, the Israel-Hamas war led to controversy this year.
North Korea in recent months has maintained an accelerated pace in weapons testing as it expands its military capabilities while diplomacy with the United States and South Korea remains stalled.
Nemo beat Croatia's Baby Lasagna to the title by winning the most points from a combination of national juries and viewers around the world.
The European Broadcasting Union said Swedish police were investigating "a complaint made by a female member of the production crew" against Klein.
Native Fashion Week designers embraced the runway, juxtaposing modernity and traditional Native ceremony.
The new book by the host of HBO's "Real Time" takes aim at those who brazenly invoke the standards of today to rewrite history in ways that even "Star Trek" would think go too far.
While officials worked to keep politics out of the event, the Israel-Hamas war led to controversy this year.
Apple's "Crush!" advertisement for the new iPad Pro features a myriad of artistic tools getting smashed in a large hydraulic press.
The Ascension Healthcare Network, one of the nation's leading nonprofit and Catholic health systems, says a "cyber security event" disrupted its clinical operations Wednesday. Threat intelligence company Cyble says there have been 77 ransomware attacks on the U.S. health care sector since the beginning of February. CBS News homeland security and justice reporter Nicole Sganga joins to unpack the troubling trend.
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.
The tech giant disclosed Thursday that a database was accessed through a Dell portal, which contains a database of customer information. CBS News' John Dickerson has the details.
FTX says most of its customers will receive some of their money back nearly two years after the cryptocurrency exchange collapsed. Yesha Yadav, associate dean of Vanderbilt Law School, joins CBS News to discuss how the payback will work.
Parts of the country saw the aurora borealis on Friday night, and the dazzling show was expected to continue on Saturday night, according to experts.
Geomagnetic storms can affect infrastructure, but may also bring an expanded viewing of the aurora borealis.
Americans were being treated to a show of the northern lights this weekend from a powerful geomagnetic storm heading toward Earth.
The parents of a U.K. toddler say it's "absolutely mind-blowing" to see their daughter, enrolled in a gene therapy trial, hear for the first time.
Climeworks, a Swiss pioneer in the fast-growing field of CO2 capture and storage, launches operations at a new site on a dormant volcano.
Nearly two decades after an intoxicated and half naked William Greer confessed to killing Tammy Myers, her daughter is determined to see her mother's killer brought to justice.
The armed suspect died during the encounter, police said.
After being stabbed in the face, neck and chest, Donna Ongsiako mustered the strength to climb up a staircase, call 911 and describe her unlikely attacker for investigators.
The shooting occurred on Friday night inside a Regal Cinemas theater in Ohio, according to police.
Witness testimony continued Friday in the murder trial of Karen Read, a Massachusetts woman accused of killing her police officer boyfriend, John O'Keefe, in 2022. Read has pleaded not guilty and her lawyers argue local law enforcement officials are framing her. CBS News Boston's Penny Kmitt has the latest on the testimony.
Geomagnetic storms can affect infrastructure, but may also bring an expanded viewing of the aurora borealis.
Americans were being treated to a show of the northern lights this weekend from a powerful geomagnetic storm heading toward Earth.
The sunspot responsible for the odd series of strong solar flares is so big you can see it with your own eyes from Earth.
In the image, "a ghostly hand appears to be emerging from the interstellar medium and reaching out into the cosmos," the NOIRLab said.
The so-called super Earth — known as 55 Cancri e — is among the few rocky planets outside our solar system with a significant atmosphere.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
We look back at the life and career of the longtime host of "Sunday Morning," and "one of the most enduring and most endearing" people in broadcasting.
The largest geomagnetic storm in more than 20 years reached Earth Friday, and put on a northern lights show, with breathtaking images from Europe to Canada, and across much of the U.S., even as far south as Florida. Michael George reports.
For families in the Bay Area, the Top of the Mark in San Francisco is the place you go to celebrate a special occasion. Now, the historic cocktail lounge is celebrating its 85th anniversary. Juliette Goodrich has more.
South Florida's growing human population has presented challenges to native animals, and the Pelican Harbor Seabird Station in Miami is working to bring things back into balance. Cristian Benavides has more on its important work.
Thousands more people are evacuating the southern Gaza city of Rafah, on top of the more than 100,000 who have already fled in the past week as Israel warns of a possible ground assault of the city. Ramy Inocencio has the latest.
A federal judge in Texas Friday temporarily halted a Biden administration rule that would cap credit card late fees at $8, about a quarter of what they are now. Credit card companies receive about $14 billion in late fee payments per year, according to the Consumer Financial Protection Bureau. Elise Preston has more.