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 Dow Jones closed at a record high Wednesday. It was a major milestone fueled by the Federal Reserve decision to leave interest rates unchanged for now, but rate cuts could come in the new year. CBS New York's Dick Brennan has more on the fed announcement. Read more: https://cbsloc.al/48cKhnO
The collapse of Silicon Valley Bank is triggering new worries about worldwide financial trouble. Overseas, Credit Suisse's troubles rattled financial markets. CBS2's Dick Brennan reports.
Markets tried to shake off Monday's massive losses. On Tuesday, the S&P 500 fell yet again.
Many Americans are worrying about their retirement funds as stocks dropped drastically yesterday. CBS2's Elijah Westbrook has more on what this means.
Does the huge drop in the Dow Jones and other indices mark the end of a historic run that dates back to the pandemic's early days?
U.S. stocks lost ground for a second day following Wednesday's sharp decline, as concerns over rising interest rates and a trade war outstripped relief from weaker-than-expected inflation data.
The Dow was down just over 30 points, the S&P lost 31, and the NASDAQ shed 64 points.
History was made again on Wall Street Wednesday as the Dow Jones Industrial Average closed above 26,000 for the first time ever.
The Dow Jones industrial average broke through 20,000 points right at the opening bell. The index crossed the line, following record highs on Tuesday.
The Dow was down 2.39 percent upon closing Friday afternoon, ending the worst two-week start to a year in history for U.S. stocks.
U.S. stocks are opening 2016 on a grim note, dropping sharply after a plunge in China and declines in Europe.
Stocks surged Tuesday morning on Wall Street, erasing some of the heavy losses of a day earlier, after China cut interest rates to try to boost the world's second-largest economy.
Stocks were deep in the red again on Wednesday, although they did rebound from a mid day swoon. At the closing bell the Dow was down 173 points at 16,141. Earlier in the day it had dipped below 16,000 for the first time since February.
The red flags were everywhere, among them weak corporate results, the looming end of stimulus from the Federal Reserve and tensions between the West and Russia.
There was a major milestone on Wall Street Thursday as stocks set new records.
Stocks have been rising sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.
The Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor's 500 index, a broader market measure, rose above 1,600.
The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and the Great Recession.
A late afternoon rally pushed the stock market higher for only the second day this month.
The Dow Jones industrial average fell 170.89 points, or 1.5 percent, to close at 11,149.82. It had been up 85 points shortly after the opening bell.
The Dow Jones industrial average at one point was down more than 500 points. It's now down 436 at 10,973.
Investors hoping for relief from last week's volatility in the stock market found it Monday.
Even a survey showing Americans are dismayed about the economy didn't stop the gains on Wall Street today.
It's understandable if people are getting dizzy watching the Dow, considering Wednesday's shocking 519 point plunge. That was just the latest go round on the Dow's recent wild ride as the index closed up 423 points on Thursday.
Aaron Judge hit a two-run homer in the first inning after Oakland starting pitcher Joe Boyle was called for a balk on the previous pitch and the New York Yankees beat the Athletics 7-3.
Former MIT researcher Qinxuan Pan has been sentenced to 35 years in prison in the 2021 murder of Yale graduate student Kevin Jiang.
Two NYPD officers are accused of sexually assaulting a woman while they were off-duty in 2023.
Francisco Lindor hit a pair of two-run homers and the New York Mets avoided a three-game series sweep with an 8-2 win over the San Francisco Giants.
The family of the man who was killed when a New York City parking garage collapsed in 2023 has filed a lawsuit against the building's owners.
Two NYPD officers are accused of sexually assaulting a woman while they were off-duty in 2023.
The family of the man who was killed when a New York City parking garage collapsed in 2023 has filed a lawsuit against the building's owners.
Gov. Hochul secures funding for New Yorkers struggling with mental illness and involved in the criminal justice system.
More young people are learning how to make ghost guns online after watching videos about subjects like video games, Manhattan DA Alvin Bragg said.
Mayor Eric Adams announced New York City's executive budget for the next fiscal year on Wednesday.
Former MIT researcher Qinxuan Pan has been sentenced to 35 years in prison in the 2021 murder of Yale graduate student Kevin Jiang.
Two heroic men saved a little girl that was running into into a busy intersection in East Hartford, Connecticut.
Expect to see a passing shower this afternoon, with a rumble here and there. Temperatures will be in the upper 60s to around 70 degrees.
U.S. News & World Report on Tuesday released their 2024 high school rankings, including nearly 2,000 in New York, New Jersey and Connecticut combined.
We're about to get into the heart of severe weather season in the Tri-State Area, so what can you do to prepare your home and property?
A New Jersey woman has received a first-of-its-kind transplant using a modified pig kidney along with a heart pump.
The city of Passaic, New Jersey is receiving over $1.5 million in federal funds for flash flood remediation.
Expect to see a passing shower this afternoon, with a rumble here and there. Temperatures will be in the upper 60s to around 70 degrees.
U.S. News & World Report on Tuesday released their 2024 high school rankings, including nearly 2,000 in New York, New Jersey and Connecticut combined.
We're about to get into the heart of severe weather season in the Tri-State Area, so what can you do to prepare your home and property?
Gov. Hochul secures funding for New Yorkers struggling with mental illness and involved in the criminal justice system.
Authorities with several law enforcement agencies searched an area in Manorville Wednesday for evidence in the Gilgo Beach murders case.
U.S. News & World Report on Tuesday released their 2024 high school rankings, including nearly 2,000 in New York, New Jersey and Connecticut combined.
Many romance scam support groups are full of people making other questionable promises of recovering funds, the CBS New York Investigative Team found.
Suffolk County law enforcement officers are now equipped with a tool to help people on the autism spectrum during stressful encounters.
Gov. Hochul secures funding for New Yorkers struggling with mental illness and involved in the criminal justice system.
Mayor Eric Adams announced New York City's executive budget for the next fiscal year on Wednesday.
House Speaker Mike Johnson was met with loud boos as he visited Columbia University, where he joined calls for the president's resignation amid pro-Palestinian protests.
The New Jersey Democrat suffered "a cardiac episode based on complications from his diabetes" earlier this month, his office said.
Columbia University has given students until Friday morning to reach an agreement to dismantle their pro-Palestinian protest on the school's main lawn.
A New Jersey woman has received a first-of-its-kind transplant using a modified pig kidney along with a heart pump.
Suffolk County law enforcement officers are now equipped with a tool to help people on the autism spectrum during stressful encounters.
High blood pressure, or hypertension, may increase the risk of dementia, according to a new study. Hear from a doctor for advice on lowering your risk factors.
A New York City company promoted "$0 cost" COVID tests, then got over 100 complaints after people were told they may owe hundreds.
On the eve of 4/20, Gov. Kathy Hochul unveiled a plan for law enforcement to lock up thousands of illegal marijuana shops.
Mary J. Blige, Cher, Foreigner, A Tribe Called Quest, Kool & The Gang, Ozzy Osbourne, Dave Matthews Band and Peter Frampton have been named to the Rock & Roll Hall of Fame.
The classic musical, which first opened in 1966, is back on Broadway in an immersive new production titled "Cabaret at the Kit Kat Club," starring Eddie Redmayne, Gayle Rankin and Bebe Neuwirth. Leave your troubles outside!
Taylor Swift's new album, "The Tortured Poets Department," was released Friday, and Swifties in New York City came together to celebrate.
Anticipation was growing at a fever pitch before Taylor Swift's latest album, "The Tortured Poets Department," dropped at midnight EDT. But it turned out it's actually a double album.
The singers first dated in 2003 and delighted fans when they rekindled their relationship in 2023.
Aaron Judge hit a two-run homer in the first inning after Oakland starting pitcher Joe Boyle was called for a balk on the previous pitch and the New York Yankees beat the Athletics 7-3.
Francisco Lindor hit a pair of two-run homers and the New York Mets avoided a three-game series sweep with an 8-2 win over the San Francisco Giants.
Logan Webb pitched eight strong innings and extended his scoreless streak to 19 as the San Francisco Giants beat the New York Mets 5-1 on Tuesday night.
Anthony Rizzo snapped a lengthy power drought with a two-run homer that capped a four-run first inning, and the New York Yankees held on for a 4-3 win over the Oakland Athletics.
Vincent Trocheck and Mika Zibanejad each had a goal and an assist and the Presidents' Trophy-winning New York Rangers held on to beat the Washington Capitals 4-3 for a 2-0 lead in their first-round playoff series.
Some Queens residents are fuming over cars parking on beloved greenway.
The 12th Annual Black Comic Book Festival returns to the Schomburg Center later this week.
There are plans to turn an Inwood parking lot into new affordable apartments for the community.
From affordable housing to commercial properties, New York City developers are addressing the climate crisis in a variety of ways.
A New York City organization is taking action to clean up drug needles and syringes littering a South Bronx park.
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.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
CBS New York's Lonnie Quinn has your First Alert Forecast for April 24 at 11 p.m.
Mayor Eric Adams announced the city's executive budget for the next fiscal year on Wednesday, and cuts to the city's public library system remain in place. CBS New York's Lori Bordonaro explains how the loss of tens of millions will impact New Yorkers.
Wednesday was the Third Annual Sikh Officers Association celebration of Vaisakhi. The holiday is one of the holiest days of the year for Sikhs.
Investigators combed a wooded area in Manorville on Wednesday in a search related to the Gilgo Beach investigation. It's not clear what prompted the search, but it's the same location where the remains of two murder victims were found more than 20 years ago. CBS New York's Alecia Reid reports.
A new Quinnipiac poll shows Americans are divided on sending more military aid to Israel. Forty-six percent of voters say they're in support while 44% oppose sending more aid. It comes as Pope Francis speaks exclusively to CBS News about the Israel-Hamas war. CBS New York's Dick Brennan reports.