Stocks sink as oil prices sizzle and U.S. hiring fizzles
Stocks fell after new government data showed U.S. employers shed 92,000 jobs in February and as investors fret over oil prices.
Watch CBS News
Stocks fell after new government data showed U.S. employers shed 92,000 jobs in February and as investors fret over oil prices.
Large U.S. retailers say the Trump administration tariffs are forcing them to hike customer prices to offset higher costs.
The inflation reading, the lowest since May 2025, shows grocery, gas and rent prices are cooling.
Inflation came in below economists' forecasts and slowed from December's 2.7% annual rate.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
Economists had expected CPI to rise at an annual rate of 3% last month.
A higher Medicare Part B premium in 2026 could erode next year's cost-of-living adjustment for Social Security recipients, experts say.
The percentage of Americans just scraping by financially is rising as wage growth slows and inflation flares, Bank of America finds.
Although grocery prices have continued to climb in 2025, a Thanksgiving dinner will cost 2% to 3% less this year, one analysis found.
Visa predicts Americans will spend an average of $736 on holiday gifts in 2025, a 10% increase from the $669 reported last year.
Social Security's annual cost-of-living adjustment is aimed at helping the program's 75 million beneficiaries keep pace with inflation.
The rush for gold continues as economic uncertainty deepens and anxious investors seek a safe haven for their money.
Overall grocery prices in August 2025 rose 2.7% compared to one year ago, according to the U.S. Bureau of Labor Statistics Consumer Price Index.
A 2.7% COLA increase would raise the average monthly Social Security payment by about $54.
The Consumer Price Index likely inched higher in August, reflecting higher costs for food and other items, economists say.
Prices rose at an annual pace of 2.6% in July, the same rate as the previous month and in line with economist forecasts.
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 Personal Consumption Expenditures, the Federal Reserve's preferred inflation gauge, ticked higher in June.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
The S&P 500 and Nasdaq notched new all-time highs, buoyed by easing trade tensions and hopes for lower interest rates.
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.
Consumer confidence continues to wane as Americans worry about the economy, jobs and their income.
Gas prices are soaring in California. This is directly impacting small business food trucks and delivery drivers in San Joaquin County.
The Nevada County Board of Supervisors was set to vote on legalizing RV living on Tuesday. The vote was put on hold while staff were directed to make revisions to the proposed ordinance.
A vehicle struck three juveniles who were walking in rural Napa County, Cal Fire said. Two of the victims were taken by air ambulance to UC Davis in Sacramento.
The Sacramento Police Department said officers shot a suspect near an elementary school in the Northgate area on Tuesday evening after responding to reports of a person armed with a knife.
While the infant was being taken to an area hospital, officials said the child's pulse returned and they began breathing on their own.
Sacramento police said officers shot a suspect near an elementary school in the Northgate area after responding to reports of a person armed with a knife.
Natomas teachers are striking for the first time in district history.
A vehicle struck three juveniles who were walking in rural Napa County, Cal Fire said. Two of the victims were taken by air ambulance to UC Davis in Sacramento.
Gas prices are soaring in California. This is directly impacting small business food trucks and delivery drivers in San Joaquin County.
The Nevada County Board of Supervisors was set to vote on legalizing RV living on Tuesday. The vote was put on hold while staff were directed to make revisions to the proposed ordinance.
The Sacramento Police Department said officers shot a suspect near an elementary school in the Northgate area on Tuesday evening after responding to reports of a person armed with a knife.
While the infant was being taken to an area hospital, officials said the child's pulse returned and they began breathing on their own.
It's a busy afternoon at the Taylor Morrison Willdhawk community worksite in Sacramento. Before the nail-guns and hammers go to work, Stephanie Martinez ensures safety comes first.
U.S. Army Reserve Chief Warrant Officer Robert Marzan's presumed death in Iran adds to the long list of California Gold Star Families who have lost a loved one in the line of duty.
A Sacramento County jury has convicted a man of first-degree murder in a deadly shooting that happened three and a half years ago in the city's Fab 40s neighborhood.
Getting a gallon of gas for under $3? In California, it's possible if you choose the right pump.
Drivers across California are feeling the impact of soaring gas prices in what feels like overnight.
An 8-year-old child was airlifted to a hospital after plunging 30 feet from a chair lift at the Sierra-at-Tahoe ski resort over the weekend, authorities said.
The California Department of Motor Vehicles said the federal government is requiring approximately 13,000 non-domiciled commercial truck drivers statewide to have their licenses revoked, effective immediately.
California Democrats are showing signs of division as the race to replace Gov. Gavin Newsom grows increasingly crowded ahead of the June primary.
Sacramento outscored the Bulls 68-36 in the paint.
Even after enduring a brutal skid last season, the confident Athletics are talking about contending for the 2026 playoffs.
The San Francisco 49ers agreed to a four-year, $17 million contract with kicker Eddy Pineiro to keep him off the free agent market next week.
Oksana Masters has competed at every Paralympics since 2012 and is the most decorated American Winter Paralympian.
The San Jose Sharks signed goalie Alex Nedeljkovic to a two-year, $6 million contract extension before the trade deadline.
Defense Secretary Pete Hegseth said Tuesday that it would be the "most intense day" of strikes against Iran so far.
Rep. Eric Swalwell's landlord submitted a sworn declaration that he lives at her California property after rival gubernatorial candidate Tom Steyer questioned his residency and eligibility to run for governor, CBS News California has exclusively learned.
President Trump told CBS News the U.S. war with Iran is "very complete," and said the U.S. "could do a lot" about the Strait of Hormuz.
Rep. Kevin Kiley of California said Monday he was immediately leaving the Republican Party to become an independent.
Anthropic sued the Defense Department and other federal agencies on Monday over the government's move to designate it a risk to the supply chain.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Public health officials say they've confirmed two cases of measles in Sacramento County.
Multiple elephant seal pups along the Northern California coast have tested positive for the deadly avian influenza, or bird flu, according to new research from the University of California.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
Finding the perfect dress isn't easy, but now, selling them could become a lot more challenging.
This weekend, Placer County is hosting its annual Sip Into Spring event, offering free or discounted tastings at more than 20 wineries along what's known as the Placer Wine Trail.
From fruits and veggies to car parts, economists project that businesses will pass along the cost of the tariffs to customers.
An economic blackout was underway Friday as activists nationwide encouraged people not to spend their money at large corporations, retailers and fast-food chains for 24 hours.
San Joaquin County's retail theft reporting app has only been around for six months and is already bringing a sense of calmness to local business owners.
President Trump and Gov. Gavin Newsom have made several different claims about California gas prices. Here's what we found.
This year-long investigation provides an unprecedented look at California's one-party supermajority legislature through the eyes of grieving parents who discover how California lawmakers kill popular bills by not voting.
This year-long investigation by CBS News California investigative correspondent Julie Watts examines the many components of California's new tougher-on-crime law.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
The California Highway Patrol captain accused of workers' compensation fraud was the commander in charge of the fatal Mahaney Park shootout in Roseville, three officers who worked under him at the time of the shootout said.
CBS13 and the Call Kurtis consumer investigative team devised an idea on how to lower what consumers owe on their credit cards -- and it begins with a simple phone call.
No one wants to think about death. However, it's important to plan on what happens to your digital assets after you die.
After spending $18,000 on waterproof laminate floors, a Natomas couple spotted damage after the first cleaning.
More than a year after Hai Pham canceled the trial membership, he kept getting charged every month for it.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
Six months after a California wildfire destroyed dozens of homes in the Tuolumne County community of Chinese Camp, officials say debris removal is now complete and properties are being returned to their owners.
A man has been arrested and charged in connection with the Tiger Fire that burned 118 acres in California's Amador County last summer and forced evacuations near Pioneer.
A major home developer is rethinking how communities are built in wildfire-prone areas and the future is taking shape in El Dorado County.
San Joaquin County secured a grant aimed at helping to build a wildfire protection plan for the entire county.
More than two dozen structures were destroyed in a wildfire in the eastern Sierra Nevada mountains on Wednesday afternoon, officials said.
A Sacramento County dog picked up thousands of miles from home after he went missing five years ago was reunited with his family on Wednesday.
What started as a suspicious circumstances call for Rancho Cordova police ended with a newborn surprise.
A once-empty lot behind Church of the Cross in north Modesto now hosts a thriving community garden with more than 140 plots and growers from across the globe.
A Sacramento-area middle school history and English teacher is in the running to win big as America's Favorite Teacher, a title her students think she is more than worthy of being awarded.
Junior Romello Bruhn of Woodland Christian High School is closer than ever to scoring 3,000 career points, something only 13 high school athletes have accomplished in California state history.
Ashley Sharp reports.
Carmela Karcher reports.
Gas prices are soaring in California. This is directly impacting small business food trucks and delivery drivers in San Joaquin County.
The Nevada County Board of Supervisors was set to vote on legalizing RV living on Tuesday. The vote was put on hold while staff were directed to make revisions to the proposed ordinance.
Natomas Unified teachers began striking on Tuesday for the first time in district history.