Dow tumbles almost 800 points amid concerns about surging oil prices
Stocks fell sharply on Wall Street on Thursday as oil prices rose further because of the war with Iran.
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Stocks fell sharply on Wall Street on Thursday as oil prices rose further because of the war with Iran.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
With affordability a key issue in this year's midterm elections, a recent CBS News poll found 74% of Americans say the trump administration isn't focused enough on lowering prices.
Several major retailers are now charging customers to return items even if they are unopened and in perfect condition.
CBS News polling shows most Americans disapprove of the president's handling of the economy, and Democratic leaders warn some Americans could face more financial challenges with rising health care costs.
The Federal Reserve is meeting to discuss a potential interest rate cut, with policymakers divided on the path ahead. As Lisa Rozner reports, this is happening as many Americans struggle to keep up financially.
Holiday spending is hitting new records, but some data shows that people are buying fewer items amid higher prices.
A CBS News poll shows most Americans feel prices have gone up in recent weeks. Still, many view holiday spending as essential.
A CBS News poll shows most Americans feel prices have gone up in recent weeks. Still, many view holiday spending as essential.
Des Moines Public Schools has released a report claiming it received an incomplete background check and a likely forged transcript when hiring former superintendent Ian Roberts.
Americans are paying significantly more for these food staples, price inflation data shows. Will inflation ever relent?
Northwestern University professor Joel Mokyr was among three people awarded the Nobel Prize in economics on Monday for their research into technological progress and economic growth.
Monthly report shows private employers shed 32,000 jobs last month, another sign the labor market is facing new challenges.
Today's CPI report marks the last major piece of economic data before the Federal Reserve's Sept. 17 rate decision meeting.
The downward revision from the Bureau of Labor Statistics shows the job market was slowing in 2024 and early 2025.
The economy added 22,000 jobs in August, which was far below expectations. As Nikole Killion reports, the jobs report is fueling fresh concerns about a slowdown.
The latest employment data could inform the Federal Reserve's next rate decision meeting, set for Sept. 17.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
The U.S. officially began levying higher tariffs on dozens of countries, just as the economic fallout of President Trump's months-long tariffs threats was beginning to create visible damage to the U.S. economy.
President Trump said he ordered his administration to fire Bureau of Labor Statistics Commissioner Erika McEntarfer after the July jobs report.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
President Trump urges patience even as the U.S. economy shrank for the first time since early in the COVID-19 pandemic during the first three months of this year.
Southwest Airlines announced Friday that it will stop operating flights out of Chicago O'Hare International Airport in June.
The head of an advocacy group said 21 people were facing charges under the UAE's cybercrime laws as of Thursday, including a 60-year-old British tourist.
The man killed in Aroma Park after an EF-3 tornado touched down in Kankakee County on Tuesday has been identified.
A man was stabbed in the arm on a CTA platform in Chicago's River North neighborhood overnight.
A High Wind Warning for Chicago Friday for gusts up to 50 to 60mph is in effect. There is a ground delay at O'Hare Airport, and more than 20,000 ComEd customers are experiencing power outages.
Defense Secretary Pete Hegseth and Joint Chiefs Chairman Dan Caine briefed on Operation Epic Fury in Iran Friday.
The Senate failed for a fourth time to advance a funding bill for the Department of Homeland Security, with no deal in sight.
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to roll back its civil rights code last year.
Illinois state Rep. Kam Buckner (D-Chicago) announced Wednesday that he has introduced legislation to rename part of Chicago's Dan Ryan Expressway in honor of the late Rev. Jesse Jackson.
A former Illinois mayor who is the subject of a federal investigation has taken her political aspirations to the metro Atlanta area.
It's become an annual March Madness tradition at CBS Chicago, pitting our city's best eateries in direct competition in a foodie bracket challenge. We did pizza, we've done Italian beef, we've done Chicago dogs. This year, we're taking flight with wings.
For Cook County residents hoping to lower their property tax bills, applications are open for exemptions.
Officials in the north Chicago suburb of Wilmette issued a warning Tuesday about scammers who are impersonating representatives of village departments.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning.
There's no relief in sight for drivers at the pump as the war in Iran is directly driving up the cost of gas. Analysts expect more of the same unless something changes soon.
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to roll back its civil rights code last year.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
When a doctor was told there was no cure for his daughter's condition, he was motivated to transform not only her health, but the lives of thousands of others.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
Despite a rash of restaurant closures, veterans of the plant-based food business pushed back against prophecies of doom — and in one case argued that such closures notwithstanding, plant-based eating is only growing.
Two popular Chicago craft breweries – Half Acre Beer Co. and Maplewood Brewery & Distillery – announced on Tuesday they are merging to create a new "premier Chicago beverage company."
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
Capital One is laying off more than 1,100 workers at the former Discover headquarters in north suburban Riverwoods.
A new development at the southeast corner of Chicago's East Lakeview community would clear away a medical office building and replace it with a residential high-rise.
Comedy power couple Nick Offerman and Megan Mullally are starring in the Goodman Theatre's new musical coming this summer.
A play inspired by the story of Emmett Till has now been extended twice past its initial run at Collaboraction Theatre in Humboldt Park.
Jennifer Runyon, a Chicago native who became famous as an actress appearing in "Ghostbusters" and "Charles in Charge," died last week.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
"Two Sisters and a Piano" tells the story of surviving in communist Cuba through imagination.
Extreme winds Friday could reach 50 to 60 miles per hour. A High Wind Warning is in effect. Highs in the mid-40s.
Southwest Airlines announced Friday that it will stop operating flights out of Chicago O'Hare International Airport in June.
A High Wind Warning for Chicago Friday for gusts up to 50 to 60mph is in effect. There is a ground delay at O'Hare Airport, and more than 20,000 ComEd customers are experiencing power outages.
Jumpstart your weekend just over the Wisconsin border.
The man killed in Aroma Park after an EF-3 tornado touched down in Kankakee County on Tuesday has been identified.
A High Wind warning is in effect for the Chicago area on Friday.
Southwest Airlines announced Friday that it will stop operating flights out of Chicago O'Hare International Airport in June.
Chicago is gearing up for a weekend full of St. Patrick's Day parades and citywide celebrations. Here's what you need to know.
Friday's extremely windy weather is just another concern for Illinois communities still cleaning up after an EF-3 ripped through Kankakee County on Tuesday
Attorneys for the family of a woman killed in a crash during a high-speed police chase in 2017 say officers involved failed to activate their body cameras or turned them off during the pursuit.
A new specialized unit is being created to prosecute domestic violence homicides in Cook County, as these killings surged 15% last year, even as overall violent crime declined across Chicago.
After a year of water bill complaints in Lisle, Illinois, the village board is officially moving forward with a plan to review those issues and possibly have the village take over for the private utility that supplies water to part of the village.
Two separate child abuse cases in Lake County, Illinois, are prompting questions about the roles schools play in identifying warning signs and alerting authorities.
A Chicago senior citizen said his phone has been ringing off the hook with hundreds of unwanted spam calls that have made his beloved landline virtually unusable. New efforts in Springfield could bring real relief.
Connor Bedard scored off a rebound off a post at 3:57 of overtime to give the Chicago Blackhawks a 3-2 victory over the Utah Mammoth on Thursday night.
Bears general manager Ryan Poles said there was a common theme to the free agents they are bringing in this offseason, saying the team "wanted to get faster, more explosive" with guys that are "passionate about football."
Northwestern now has a seven-game winning streak against the Hoosiers.
Chicago's Jalen Smith converted two free throws with 1.4 seconds left in regulation to send the game into OT, and Tre Jones contributed 22 points for the Bulls
The Detroit Lions are losing another player, this time it's wide receiver Kalif Raymond, who is reportedly heading to the Chicago Bears.
A new specialized unit is being created to prosecute domestic violence homicides in Cook County, as these killings surged 15% last year, even as overall violent crime declined across Chicago.
The attacker rammed a vehicle into Temple Israel in West Bloomfield and was confronted and killed by security, Oakland County Sheriff Michael Bouchard said.
A man was shot and killed on the street in the midday hours Wednesday in Chicago's West Garfield Park neighborhood.
Park rangers cited the four visitors, all from Illinois, for collecting and defacing park resources.
A woman has been charged in a road rage shooting that left someone injured this past weekend on the Dan Ryan Expressway.
