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.
Stock Market
Sports Illustrated publisher fires CEO following AI controversy
The Arena Group has fired a few executives following public backlash over Sports Illustrated's alleged use of AI to create fake content.
Dow jumps 520 points as investors cheer inflation slowdown
Signs that inflation is continuing to cool helped propel Wall Street to its strongest month in more than a year.
Oil prices surge amid Israel-Hamas war
Oil prices rose 5% Friday amid the war between Israel and Hamas. J.D. Durkin, host of "The Street," joins CBS News to discuss what the spike means for U.S. investors.
Financial markets respond to Israel-Hamas war
Some reactionary moves are evident in the markets as the war between Israel and Hamas continues. Eric Wallerstein, a markets reporter for The Wall Street Journal, joined CBS News and explained that gold, which he said is "a haven from turmoil," is having its best week since March.
"Surprising" September jobs report
The September jobs report showed that the U.S. economy created 336,000 jobs last month -- a sign that the job market remained strong despite challenges with inflation. Jeanna Smialek, a Federal Reserve and U.S. economy reporter at The New York Times, has more.
GameStop appoints Chewy founder Ryan Cohen as chief executive
The billionaire will not receive compensation for serving as the company's president, CEO and chairman, GameStop said.
A look at Instacart's stock market debut
San Francisco-based grocery delivery company Instacart made its Nasdaq debut on Tuesday, closing at about a 12% gain. Natalie Lung, a technology reporter for Bloomberg, joins CBS News to discuss Instacart's transition to a public company.
Moody's cuts credit ratings for 10 U.S. banks
Bank stocks fell Tuesday after Moody's Investors Service downgraded the credit ratings of 10 regional banks, citing growing financial risks and strains that could erode their profitability. The move prompted new concerns over the health of the banking sector. J.D. Durkin, host for financial site TheStreet, joins CBS News to discuss how it all impacts investors and the stock market.
Biden economic adviser on credit downgrade
Fitch Ratings, one of three major credit firms, downgraded the U.S. credit rating from AAA to AA+ on Tuesday. The Dow Jones, Nasdaq and S&P 500 all closed in the red one day after the news. Bharat Ramamurti, National Economic Council deputy director, joined CBS News to discuss how the Biden administration is reacting to the downgrade.
The economy's long, hot, and uncertain summer — CBS News poll
High prices and interest rates are still weighing on personal budgets.
Job market cools in June
The U.S. economy added fewer jobs than predicted in June, sending stocks seesawing even as the unemployment rate remained steady. The report sparked fears that the Fed will raise interest rates again. Natalie Brand is at the White House with more.
Economic impact of excessive heat
An extreme summer heat wave has blanketed most of the U.S. this week. Excessive heat is currently estimated to cost the U.S. economy $100 billion annually. TheStreet host J.D. Durkin and Axios economics reporter Courtenay Brown join CBS News to break down the economic impact of climate change.
Recession fears subside
For the last year, experts have been making predictions of a recession but it hasn't arrived. Edward Yardeni, president and chief investment strategist at Yardeni Research, joins CBS News to break down what is and isn't happening with the economy.
The bear market is over. Here's why investors see better days ahead.
Long market slump was especially painful for Americans saving for retirement, with their investments losing $3 trillion in value.
Biden praises debt ceiling deal
President Joe Biden addressed the debt ceiling deal in a speech from the Oval Office, saying the bipartisan agreement avoids "economic collapse." Meanwhile, the stock market rallied behind a strong jobs report. Christina Ruffini has more.
Why Nvidia's chips are so important for AI
Nvidia's market cap fell to around $936 billion on Wednesday after a stock surge triggered by the artificial intelligence boom briefly pushed it to over $1 trillion. Forbes senior writer Richard Nieva joins CBS News to discuss market affection for AI.
Stocks close strong as debt talks improve
The Dow Jones, the S&P 500 and the Nasdaq closed in the green Friday, as investors reacted to negotiators making progress in the debt ceiling standoff. Javier David, Axios managing editor for business and markets, and J.D. Durkin, host of TheStreet, joined CBS to explain what the numbers mean for investors and the economy.
Debt ceiling talks appear to have stalled
Negotiations on the debt ceiling stalled Tuesday as the White House and House Republicans remain divided over spending cuts. Discussions ended late Tuesday and economists warn that the stock market could crash and the economy may experience a severe recession if no agreement is reached and the United States defaults on its debt. Congressional correspondent Scott MacFarlane reports from Washington.
Retail earnings show mixed results
Stocks closed in the green Wednesday, as investors react to the debt ceiling negotiations and new earnings data. Wall Street Journal markets reporter Hannah Miao joined CBS to explain what the information means for investors and consumers.
Consumer debt passes $17 trillion
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.
Risks and benefits of short-selling stocks
Short-selling is strategy stock traders are utilizing to make profits in a pinch. Wall Street Journal reporter Matt Wirz joins CBS News' Lilia Luciano and Tony Dokoupil to discuss what consumers need to know.
Regional bank stocks tumble
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.
Investors react as inflation slows
Stocks closed relatively flat Wednesday following the release of Consumer Price Index data for April. Wells Fargo senior global markets strategist Scott Wren joins CBS News to explain what the new inflation numbers mean for consumers and investors.
Investors monitoring debt ceiling, inflation data
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.
Gaetz ethics report says his drug use, sex with a minor violated state laws
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Who are the 3 federal death row inmates whose sentences Biden didn't commute?
President Biden left in place the capital punishment sentences of just three federal inmates: Robert Bowers, Dzhokar Tsarnaev and Dylann Roof.
Luigi Mangione pleads not guilty to state murder, terrorism charges
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
Prosecutor drops appeal to reinstate "Rust" charges against Alec Baldwin
The appeal asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
6 key takeaways from the Matt Gaetz ethics report
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
NYC police charge man with murder of woman set on fire on subway
Sebastian Zapeta, 33, was charged with murder and arson after a woman sleeping on the New York City subway was set on fire and died, police say.
Biden commutes sentences of 37 of 40 federal death row inmates
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
U.S.
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Prosecutor drops appeal to reinstate "Rust" charges against Alec Baldwin
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
How a Georgia county official stood up to a Russian ransomware ring
The Russian-based ransomware syndicate LockBit took responsibility for the cyberattack, which temporarily crippled the Georgia county's online infrastructure.
Here's what to know about the Corporate Transparency Act ruling
The Corporate Transparency Act, or CTA, requires businesses to register with FINCEN, or face fines. Here's what to know.
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.
Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
MoneyWatch
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Here's what to know about the Corporate Transparency Act ruling
The Corporate Transparency Act, or CTA, requires businesses to register with FINCEN, or face fines. Here's what to know.
Dairy farmers struggle to cover expenses as American appetites change
The work never ends on a dairy farm. The job is "rewarding spiritually, not always financially," New York farmer Nate Chittenden says.
Starbucks strike expands to more cities just days before Christmas
Starbucks baristas and Amazon delivery drivers are on strike in handful of U.S. cities as they seek wage increases.
Nordstrom to go private in $6.25 billion deal with Nordstrom family
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal.
Walmart accused of illegally opening costly accounts for drivers
Walmart and Branch Messenger, a payments platform, accused of deceiving workers about pay from retailer for two years.
Politics
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Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
Ex-D.C. police officer convicted of lying about leaks to Proud Boys leader
A retired police officer in the nation's capital has been convicted of lying to authorities about leaking confidential information to the leader of the Proud Boys extremist group.
Who are the 3 federal death row inmates whose sentences Biden didn't commute?
President Biden left in place the capital punishment sentences of just three federal inmates: Robert Bowers, Dzhokar Tsarnaev and Dylann Roof.
Read the full Matt Gaetz ethics report
The House Ethics Committee has released its long-awaited report on allegations of misconduct by former Rep. Matt Gaetz. Read the full report here.
6 key takeaways from the Matt Gaetz ethics report
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
HealthWatch
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HealthWatch
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.
CDC releases concerning new flu numbers
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
A teen's misdiagnosis led to medication, but surgery led to a cure
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
World
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Photos show well-preserved remains of baby mammoth found in Siberia
Yana is estimated to have been only about one year old when she died. She weighs more than 397 pounds and measures about 4 feet and 200 centimeters long.
Legendary drug lord deported to Colombia after release from U.S. prison
Fabio Ochoa arrived at Bogota's El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag.
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.
Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Australia approves extradition of former U.S. Marine
Former U.S. Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators.
Entertainment
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Prosecutor drops appeal to reinstate "Rust" charges against Alec Baldwin
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.
Meet the man behind Bergdorf Goodman's iconic holiday windows
This year's holiday displays at Bergdorf Goodman honor Fifth Avenue's bicentennial and will be on display through Jan. 6.
Samara Joy on new album, family tour
Samara Joy, the 25-year-old jazz sensation and three-time Grammy winner, joins "CBS Mornings Plus" to talk about her new album "Portrait" and her holiday tour with family.
Technology
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Technology
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.
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.
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.
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.
Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
Science
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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.
EPA tackling pollution in at-risk communities
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Crime
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Prosecutor drops appeal to reinstate "Rust" charges against Alec Baldwin
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
CEO murder suspect pleads not guilty in state case
Luigi Mangione pleaded not guilty to murder and terrorism charges in New York state court Monday. Prosecutors allege he shot and killed UnitedHealthcare CEO Brian Thompson in the back and leg in Manhattan earlier this month. Lilia Luciano has more.
Legendary drug lord deported to Colombia after release from U.S. prison
Fabio Ochoa arrived at Bogota's El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag.
Mangione lawyer concerned about fair trial
The man accused of killing UnitedHealthcare CEO Brian Thompson remains behind bars after pleading not guilty to murder and terrorism charges Monday morning in New York. Luigi Mangione's lawyer argues that the multiple state and federal investigations conflict with his right to a fair trial. CBS News correspondent Lilia Luciano reports.
NYC police charge man with murder of woman set on fire on subway
Sebastian Zapeta, 33, was charged with murder and arson after a woman sleeping on the New York City subway was set on fire and died, police say.
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.
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.
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
Elusive Chicago pizza maker has altruistic motive
Once a month, a pie slinger in Chicago sells pizza out of a truck in an alley. His thin crust pizza is so popular, it usually sells out within minutes — raising plenty of dough for a good cause. Charlie De Mar reports.
How a Georgia official took on a ransomware ring
2024 could go down as the worst year yet for ransomware attacks, in which hackers gain access to a computer server, lock up all the files and then demand payment to get the victims back online. For "Eye on America," Ash-har Quraishi has the inside story of how a public official in Atlanta stared down some of the world's most destructive cybercriminals.
How Israel pulled of its exploding pagers plot
CBS News' "60 Minutes" got an inside look at how Israel pulled off one of the most daring and sophisticated intelligence operations in history. In the so-called pager plot, devices worn by members of the Hezbollah militia were turned into miniature bombs. Lesley Stahl spoke with two recently retired Israeli agents who spent years masterminding the plan.
Biden commutes sentences of 37 death row inmates
With less than a month to go in his term, President Biden granted executive clemency to 37 of the country's 40 federal death row inmates. The move reduces their sentences to life without the possibility of parole and makes them immune to President-elect Trump's promise to resume federal executions. Ed O'Keefe has more.
What's in the Matt Gaetz House ethics report?
Just before leaving Washington, D.C., for the holidays, the House Ethics Committee released a long-awaited and damning report on the conduct of former Florida Congressman Matt Gaetz. Scott MacFarlane has the latest from Capitol Hill.