U.S. stocks rally toward record highs after better-than-expected inflation data
The U.S. stock market on Tuesday rose toward records after data suggested inflation in July was a touch better than economists expected.
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The U.S. stock market on Tuesday rose toward records after data suggested inflation in July was a touch better than economists expected.
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
CBS News is tracking the rising cost of products most impacted by tariffs already imposed and new ones announced by President Trump, from grocery items to cars and trucks.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The country's GDP increased at an annual rate of 3%, a sharp turnaround from earlier this year when it fell 0.5%.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
McDonald's is reviving its long-lamented Snack Wrap and leaning into affordable eats as it looks to reverse a rare sales slump.
Economists warned that a barrage of new U.S. tariffs could trigger a renewed bout of inflation. So why aren't prices surging?
For millions of people around the U.S., financial stability amounts to a "rare luxury," Bankrate survey finds.
Roughly a quarter of consumers use "buy now, pay later" loans for ordinary expenses like groceries. That's worrisome, a personal finance expert says.
Consumer spending slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.
High temperatures and rising electricity costs could boost home energy bills by 6% this summer, a new report says.
Weakening consumer confidence and mounting uncertainty could hit spending, economists warn.
The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.
Record consumer debt, years of steep inflation and other factors are driving more Americans to considering filing for bankruptcy.
Consumer sentiment fell sharply in April for the fourth straight month as the trade war fuels worries about inflation and employment.
Inflation cooled in March, but economists expect prices to reaccelerate as some of President Trump's tariffs kick in.
The Postal Service contends, as it did last year before a similar increase, that the price hike is needed to achieve financial stability.
President Trump rolled out new tariffs on April 2 aimed at easing trade imbalances. Here's which products could become more expensive as a result.
Consumer confidence continues to wane as Americans worry about the economy, jobs and their income.
The inflation rate last month was slightly lower than forecast by economists, although price increases are still higher than the Fed would like.
The bird flu is still wiping out poultry flocks, leading to supply shortages. Here's when egg prices could come down, experts say.
Republicans are more likely than Democrats to say they'll watch President Trump's joint address to Congress.
Stocks tumbled for a second consecutive trading day, wiping out all post-election gains for the S&P 500.
Americans express concern about their ability to pay bills and save money.
Officials in Berkley, Michigan, are investigating after around 100 pamphlets with antisemitic content were found in the area on Saturday, according to the city's Department of Public Safety.
A juvenile is injured and police are gathering details from a suspect after a shooting on the west side of Detroit on Saturday morning.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Motorists in downtown Detroit may see road closed signs between Saturday and June 2 while crews prepare the area for the Grand Prix.
Napoleon Solo hustled to first place at the 151st running of the Preakness Stakes on Saturday, coming out on top against 13 other horses.
The Swatch store at the Somerset Collection mall in Troy, Michigan, has canceled a product release event after an estimated crowd of hundreds of people gathered for it early Saturday, according to police.
Boil water advisories have been lifted for the Oakland County, Michigan, communities impacted by the water main break that happened in Auburn Hills earlier this month, the Great Lakes Water Authority said Saturday.
Officials in Berkley, Michigan, are investigating after around 100 pamphlets with antisemitic content were found in the area on Saturday, according to the city's Department of Public Safety.
A juvenile is injured and police are gathering details from a suspect after a shooting on the west side of Detroit on Saturday morning.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Michigan is demanding repayment of $35 million from the American Center for Mobility, a key player in autonomous vehicle development.
A bipartisan bill introduced in Washington, D.C., by Michigan Congresswoman Debbie Dingell and Congressman John Moolenaar would prohibit the importation, manufacture or sale of Chinese cars in the United States.
Michigan's average diesel price on Sunday is $6 — the highest ever recorded by the American Automobile Association.
Ford Motor Company is recalling over 179,000 vehicles due to a front seat issue that can increase the risk of injury in a crash, the National Highway Traffic Safety Administration said.
A vote by UAW Local 2093 members will be on May 11. The UAW says that if approved, workers could walk out of the Three Rivers facility starting on May 31.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
With summer not far behind, the city of Detroit is preparing for the highly anticipated 2026 Ford Fireworks next month.
Motown may be Detroit's most famous sound, but it's far from the only one.
Gene Simmons visited Detroit Rock City to celebrate the grand opening of a restaurant co-founded by him and his Kiss bandmate Paul Stanley.
The moon music tradition started more than 50 years ago, NASA said as it shared the Artemis II crew's playlist this week.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Napoleon Solo hustled to first place at the 151st running of the Preakness Stakes on Saturday, coming out on top against 13 other horses.
Spencer Torkelson drove in the winning run with an RBI single with two outs in the ninth inning and the Detroit Tigers snapped a three-game losing streak by edging the Toronto Blue Jays 3-2.
Cade Cunningham scored 21 points and the top-seeded Detroit Pistons dominated the second half, beating the Cleveland Cavaliers 115-94 to force a Game 7 in their Eastern Conference second-round series.
In a move aimed at curbing the growing problem of "teen takeovers," D.C. U.S. Attorney Jeanine Pirro is threatening to bring charges against parents if their teens violate the local curfew.
Teen tobacco use in Michigan is rising again, prompting calls for increased prevention spending.
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
An American on the repatriation flight began showing symptoms of hantavirus and another "tested mildly PCR positive for the Andes virus," the Department of Health and Human Services says.
More than 100 people from a cruise ship dealing with an outbreak of the rare and deadly hantavirus are set to be disembarked.
In 2002, Zermeño found out he contracted hantavirus after cleaning the family house following the death of his mother and sister. He had been exposed to rodent droppings and became infected.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Motorists in downtown Detroit may see road closed signs between Saturday and June 2 while crews prepare the area for the Grand Prix.
Napoleon Solo hustled to first place at the 151st running of the Preakness Stakes on Saturday, coming out on top against 13 other horses.
The Detroit Tigers fell to the Blue Jays 3-2 on Saturday after Daulton Varsho drove in the go-ahead run with a single in the 10th inning for Toronto.
Game 7. That's a phrase that surely brings back a lot of good memories for fans of the Cleveland Cavaliers and Detroit Pistons.
This week on Michigan Matters, the roundtable talks about the governor's race and the impact of former Detroit Mayor Mike Duggan.
The roundtable discusses the impact of rising gas prices and friction at the federal level with Canada and the U.S., and how it affects tourism.
Life Directions has been helping guide and mentor young people in Detroit.
Robert Costa, the award-winning national correspondent for CBS Sunday Morning and chief Washington analyst for CBS News, talks about Michigan's role in this critical midterm election.
Diallo Smith, CEO of Detroit nonprofit Life Remodeled, talks about its new opportunity hub on the east side of Detroit called Anchor Detroit.
Chance of showers and storms later in the day
A Michigan State Police trooper jumped across a median just before his car was rear-ended early Saturday, the agency said. No one was injured.
Police in Troy said an estimated crowd of hundreds gathered outside the Swatch store at the Somerset Collection mall on Saturday morning ahead of a product launch event, which was canceled due to safety concerns and the size of the crowd.
Boil water advisories were lifted for several Oakland County communities on Saturday after nearly a week of disruption to service due to a main break. Veronica Ortega speaks with local businesses to see how they're doing following the move.
The Michigan Department of Corrections says a female inmate's death at the Huron Valley Correctional Facility is under investigation.