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.
Yordan Alvarez and Jon Singleton each hit long homers in the first inning for the Houston Astros who beat the New York Yankees 4-3 to avoid being swept in the season series.
The bill stalled earlier this week after senators from Virginia and Maryland objected to a provision that would allow an additional 10 flights a day to and from Ronald Reagan Washington National Airport.
Advocates are calling on New York City to reverse a multimillion dollar budget cut to the Crime Victim Assistance Program (CVAP), which helps survivors of crimes like domestic abuse and gun violence.
A new piece of legislation passed in the New York State Budget clarifies the distinction between squatters and tenants.
A 15-year-old girl has been charged with murder in the stabbing death of a 17-year-old girl in Sunnyside, Queens.
Advocates are calling on New York City to reverse a multimillion dollar budget cut to the Crime Victim Assistance Program (CVAP), which helps survivors of crimes like domestic abuse and gun violence.
A new piece of legislation passed in the New York State Budget clarifies the distinction between squatters and tenants.
A 15-year-old girl has been charged with murder in the stabbing death of a 17-year-old girl in Sunnyside, Queens.
An instructor at Nassau County's Fire Service Academy was badly burned during a training exercise Thursday.
Trevor Bickford was sentenced to 27 years Thursday for attacking NYPD officers with a machete on New Year's Eve in 2022 near Times Square.
Traffic was flowing on I-95 in Norwalk Monday after being shut down in both directions due to a fiery tractor-trailer crash last week.
I-95 fully reopened in both directions Sunday in Norwalk, Connecticut, days after a tanker truck caught fire and badly damaged a bridge.
Northbound lanes of I-95 have reopened in Norwalk, Connecticut after crews demolished a bridge that was damaged in a tanker truck fire.
As we progress into Sunday, light showers will become a steady rain, which may be moderate to heavy at times.
The I-95 overpass in Norwalk, Connecticut that was damaged in a fiery tanker truck crash is being demolished, but the highway remains partially closed.
A New Jersey fire chief who allegedly dumped a bucket of rocks, mud and gravel onto a rare 1995 Nissan Nismo 270R has been criminally charged.
Rutgers University President Jonathan Holloway faced questions from New Jersey lawmakers at a state budget hearing Thursday regarding pro-Palestinian protests on campus.
Jewish students and leaders are not happy with Rutgers University's agreement with pro-Palestinian protesters.
The American Cancer Society is trying to find out why Black women have the highest death rate for most cancers.
New Jersey leaders announced Tuesday the expansion of its partnership with mental health and wellness platform Uwill for two more years.
An instructor at Nassau County's Fire Service Academy was badly burned during a training exercise Thursday.
An accused international jewelry thief was arrested in New York City after he was allegedly caught on video pocketing a $17,000 watch inside a Long Island store.
The land in East Farmingdale, near Republic Airport, has been vacant since the 1990s.
As we progress into Sunday, light showers will become a steady rain, which may be moderate to heavy at times.
The controversial New York City congestion pricing tolls set to start June 30 are facing another lawsuit, this time from Long Island.
The bill stalled earlier this week after senators from Virginia and Maryland objected to a provision that would allow an additional 10 flights a day to and from Ronald Reagan Washington National Airport.
Stormy Daniels gave defiant testimony Thursday as the defense accused her of fabricating details of the alleged sexual encounter between her and former President Donald Trump.
Gov. Kathy Hochul signed Sammy's Law Thursday, which grants New York City the authority to lower the citywide speed limit from 25 MPH to 20 MPH.
Nearly two dozen faculty members at The New School put up tents in the Greenwich Village school's lobby on Wednesday.
Jewish students and leaders are not happy with Rutgers University's agreement with pro-Palestinian protesters.
Kyle McMorrow was just 36 years old when he suffered a stroke last year. He woke up with neck pain one day, not realizing what was happening.
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
Hormel Foods says potentially contaminated products were shipped to Publix and Dollar Tree distribution warehouses.
A New Jersey teenager says making music helps bring him to a better place as he fights cancer.
Dutch medical device maker Philips says it's reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that's rocked the company.
UmaSofia Srivastava resigned as Miss Teen USA on Wednesday, just two days after Noelia Voigt stepped down as Miss USA.
Livestreamer Kai Cenat will not be prosecuted in connection to the riot that broke out after he promoted a meet-and-greet and giveaway in Union Square last year.
The 2024 Met Gala saw hundreds of celebrities looking their best on fashion's biggest night.
The stars came out for the the 2024 Met Gala in New York City. See some of the most eye-catching outfits of the night.
'Bob Hearts Abishola', the acclaimed comedy, is signing off after its fifth season on CBS.
Yordan Alvarez and Jon Singleton each hit long homers in the first inning for the Houston Astros who beat the New York Yankees 4-3 to avoid being swept in the season series.
StubHub says the Knicks and Rangers are headlining the best-selling series in the NBA and NHL Playoff second rounds.
Jalen Brunson returned from a right foot injury to score 24 of his 29 points in the second half, leading the New York Knicks to a 130-121 victory over the Indiana Pacers for a 2-0 lead in the Eastern Conference semifinals.
Juan Soto homered and drove in five runs, Aaron Judge and Giancarlo Stanton also went deep and the New York Yankees beat the Houston Astros 9-4.
Vincent Trocheck scored a power-play goal off a rebound at 7:24 of the second overtime to give the New York Rangers a 4-3 win over the Carolina Hurricanes for a 2-0 lead in their second-round playoff series.
A new piece of legislation passed in the New York State Budget clarifies the distinction between squatters and tenants.
Walks in the park just got a lot brighter thanks to Harlem Sculpture Gardens, the largest outdoor public art exhibit ever in the neighborhood.
Riverdale resident Leo Shliselberg says despite the hardships he's experienced in life, the best medicine is laughter.
A Brooklyn firefighter is hailed a hero after officials say he rescued a man out of a burning car in front of his family.
Millions of stamps designed by Brooklyn artist, Kim Parker, are decorating postage envelopes nationwide.
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.
An organization that helps survivors of crimes is facing multibillion dollar budget cuts. CBS New York's Kristie Keleshian spoke with advocates who want funding restored.
Police are searching for a hit-and-run driver who killed one woman and injured another in Brooklyn on Thursday.
The New York City Department of Transportation plans to launch a network of 500 bike parking locations across the city. The enclosed and open air units would be located curbside and off the street.
The New York City Department of Transportation says major work on the BQE will likely not happen until 2028, one year later than the original timeline presented to the public.
Sunday is Mother's Day, and one family on Long Island has a lot to be thankful for. Thursday, a new mom celebrated a wedding anniversary in the ICU that was followed by emergency surgery and later, the birth of a baby girl. CBS New York's Dick Brennan has the incredible story.