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.
Follow live updates as Stormy Daniels testifies at former President Donald Trump's trial in New York.
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
The Supreme Court is set to issue decisions in the coming weeks in more than a dozen cases involving issues like abortion, guns and sweeping immunity for former President Donald Trump.
Group of Democrats from states including Minnesota, Nevada and Pennsylvania urges Biden "to use all tools at your disposal" to address border security issues.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
Israeli forces take "operational control" of the Gaza side of the vital Rafah border crossing as Netanyahu dismisses the latest cease-fire proposal.
A tornado destroyed homes and toppled trees and power lines when it roared through a small northeast Oklahoma city, one of several twisters that erupted in the central U.S. amid a series of powerful storms.
Approximately 450 planes potentially could be involved, a source told CBS News.
A Kansas City-area man, 75, admitted he killed his hospitalized wife, saying he couldn't take care of her or afford her medical bills, court records say.
Follow live updates as Stormy Daniels testifies at former President Donald Trump's trial in New York.
Rep. Victoria Spartz, an Indiana Republican and the first Ukrainian-born member of Congress, is facing a primary challenge for her seat on Tuesday.
Video gamers eagerly awaiting a successor to Nintendo's hit Switch system finally got a clue on when to expect a new device.
Group of Democrats from states including Minnesota, Nevada and Pennsylvania urges Biden "to use all tools at your disposal" to address border security issues.
Senior Airman Roger Fortson, 23, died at his off-base residence, the U.S. Air Force said in a statement released Monday
Video gamers eagerly awaiting a successor to Nintendo's hit Switch system finally got a clue on when to expect a new device.
Nvidia and Microsoft are among the backers of Wayve and its embodied AI technology, described as "GPT for driving."
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
Disney CEO Bob Iger's focus on wringing profits from the entertainment giant's streaming business is bearing fruit.
Approximately 450 Boeing planes potentially could be involved, a source told CBS News.
Follow live updates as Stormy Daniels testifies at former President Donald Trump's trial in New York.
Rep. Victoria Spartz, an Indiana Republican and the first Ukrainian-born member of Congress, is facing a primary challenge for her seat on Tuesday.
Group of Democrats from states including Minnesota, Nevada and Pennsylvania urges Biden "to use all tools at your disposal" to address border security issues.
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
President Biden delivered the keynote address at the U.S. Holocaust Memorial Museum's Annual Day of Remembrance Celebration.
Recall includes yogurt pretzels and other confections sold by retailers such as Dollar General, HyVee, Target and Walmart.
A survey from the American Academy of Dermatology finds more than one-third of adults reported getting a sunburn last year — the highest number since 2020.
Hormel Foods says potentially contaminated products were shipped to Publix and Dollar Tree distribution warehouses.
Steward Health Care, the struggling hospital group that owns hospitals in Massachusetts, Texas, Florida and other states, announced Monday that it is filing for bankruptcy.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
2 Ukrainian security officers have been detained and accused of treason over an alleged Russian plot to kill President Volodymyr Zelenskyy.
South African rescuers are "actually hearing people through the rubble" after a building collapsed in the city of George.
Erin Patterson, who is accused of serving her ex-husband's family death cap mushrooms with lunch, pleaded not guilty to eight charges of murder and attempted murder.
Heineken said the investment is a demonstration of "confidence in the resilience of the great British local in the face of uncertainty."
Stars were in full bloom at the Met Gala Monday night. The dress code was "Garden of Time." Rachel Smith from "Entertainment Tonight" breaks down fashion's biggest night.
Five-time Grammy winner Brittany Howard talks about how her latest album was born from a period of intense soul-searching and solitude in Nashville.
Gayle King gives viewers a behind-the-scenes look at her preparation and journey to the Met Gala.
Oprah Winfrey unveils "Long Island" as her latest book club pick on "CBS Mornings." The sequel to Colm Tóibín's best-selling novel "Brooklyn," "Long Island" continues the story of Eilis Lacey more than two decades later now as a mother and wife in America.
The 2024 Met Gala saw hundreds of celebrities looking their best on fashion's biggest night.
Video gamers eagerly awaiting a successor to Nintendo's hit Switch system finally got a clue on when to expect a new device.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
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.
Sidechat, an app launched in 2022 where students can post anonymously about their colleges, is becoming a tool for those choosing to protest at U.S. campuses. Amanda Silberling, a senior culture writer for TechCrunch, joins CBS News with more details on the app.
Microsoft users can now use biometric passkeys, like a thumbprint or Face ID, to sign into Microsoft 365, Copilot. Jon Fingas, senior editor at Techopedia, has more.
The visualization, produced on a NASA supercomputer, allows users to experience flight towards a supermassive black hole.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
Reported sightings of giant, toxic, invasive hammerhead flatworms are on the rise in parts of southeastern Canada. Experts say the worms can grow up to 3 feet long and pose a risk to children, pets and other small animals. Peter Ducey, PH.D. and distinguished teaching professor at SUNY Cortland, joins CBS News to discuss the worm.
When NASA added a tiny four-pound helicopter as a stowaway to its Mars 2020 lander, it expected the helicopter to fly five very brief flights in the thin Martian atmosphere. Yet, Ingenuity would far surpass all expectations.
When NASA added a drone named Ingenuity to its Mars 2020 rover Perseverance, it expected the tiny four-pound helicopter to fly a total of five very brief missions in the thin Martian atmosphere. But Ingenuity far surpassed all expectations, flying dozens of flights before suffering damage to its rotors in January. Correspondent David Pogue reports on how the tiny drone, created from off-the-shelf parts, continued to provide valuable data and images from the Red Planet three years into its mission.
Officials are releasing new details in the deaths of two Australians and an American who were found dead near a camping site in Mexico with gunshot wounds last week. CBS News correspondent Carter Evans has more.
The shooting comes amid a rap beef between Drake and Kendrick Lamar, but police said they could not speak to a motive at this stage of the investigation.
Erin Patterson, who is accused of serving her ex-husband's family death cap mushrooms with lunch, pleaded not guilty to eight charges of murder and attempted murder.
A Kansas City-area man, 75, admitted he killed his hospitalized wife, saying he couldn't take care of her or afford her medical bills, court records say.
Jake and Callum Robinson from Australia and American Jack Carter Rhoad were shot in the head, their bodies dumped in a covered well miles away.
The visualization, produced on a NASA supercomputer, allows users to experience flight towards a supermassive black hole.
Boeing's Starliner space capsule is set for a historic launch Monday night. CBS News space consultant Bill Harwood looks at the long-awaited mission into orbit, and what it could mean for the future of space travel.
Boeing's Starliner was set to make its maiden voyage to the International Space Station, with its first piloted launch Monday night. But the launch, already pushed back following years of delays, was scrubbed with less than two hours to go before liftoff. Mark Strassmanm reports.
The planned piloted launch of Boeing's long-delayed Starliner crew ferry ship was called off with less than two hours to go before liftoff.
After years of delays, Boeing is set to launch its Starliner spacecraft with a crew for the first time Monday. The test flight will carry two astronauts to the International Space Station.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Officials are releasing new details in the deaths of two Australians and an American who were found dead near a camping site in Mexico with gunshot wounds last week. CBS News correspondent Carter Evans has more.
Two hours before its scheduled liftoff, Boeing's Starliner capsule was forced to stand down from its attempted launch to the International Space Station Monday night. A last-minute issue with a valve on the spacecraft's rocket is to blame and NASA says it will attempt to launch the capsule again on Friday at the earliest. CBS News space consultant Bill Harwood has more.
Oklahoma is recovering after a tornado hit the city of Barnsdall on Monday, knocking out power and damaging at least 30 homes. Officials say twisters there killed at least one person and injured several others. CBS News national correspondent Dave Malkoff has more.
Russian President Vladimir Putin was sworn in Tuesday for his fifth term after a reelection process that many Western observers have called unfair and undemocratic. If Putin serves out the full term, he will have had a longer reign than Joseph Stalin. Scott Radnitz, professor of Russian and Eurasian studies for the University of Washington, joined CBS News to discuss what an extended Putin rule means for the world.
A judge has denied Donald Trump's motion for a mistrial in his New York criminal case in the wake of testimony from adult film actress Stormy Daniels. Trump's attorneys had argued elements of Daniels' testimony had "nothing to do" with the case. CBS News legal contributor Jessica Levinson has more.