Stocks close lower, adding to Friday's steep losses
Markets lost more ground after Powell's speech last week confirming more hikes: "We must keep at it until the job is done."
Gas Prices
Inflation cools as U.S. consumer prices rose 6.3% in July
Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.
Powell says Fed could keep lifting rates "for some time"
While higher borrowing costs will hurt, failure to ease inflation "would mean far greater pain," Federal Reserve chief says.
The rise of side hustles amid inflation
CBS News' Anne-Marie Green and Errol Barnett talk with Alejandro Chavarria, Erin Welsh and Pamela Ortiz, who are each pursuing side hustles, as part of CBS News' Uncertain Economy series. More and more Americans are taking on extra work as they struggle to make ends meet amid rising gas and grocery prices due to inflation.
Latest GDP figure eases concern about imminent U.S. recession
New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.
Stocks fall sharply amid renewed inflation fears
S&P 500 suffers its biggest drop since June as investors fret over the Fed's effort to tame inflation.
U.K. inflation tops 10% on soaring food and energy costs
Britain's inflation rate soared to a new 40-year high, squeezing households. Economists expect it to get worse.
Target's profit craters after it cut prices to clear inventory
Retailer's profits plunge after it slashes prices to clear unwanted inventories of clothing, home goods and other items.
Walmart reports better-than-expected Q2 as Americans cut costs
The company is cutting prices to get rid of excess inventory after a huge shift in how Americans spend.
U.S. stocks up as investors focus on economy ahead of retail data
Walmart and Home Depot kick off a host of retail earnings reports on Tuesday, followed by Lowe's and Target.
U.S. stocks fly high, as S&P 500 ends 4th straight week of gains
Some investors believe inflation may have peaked, allowing Federal Reserve to be less aggressive with hikes.
Gas prices drop under $4 average
According to AAA, the national average price for a gallon of gas has dropped to $3.99. CBS News transportation correspondent Errol Barnett joins Carter Evans to discuss the latest.
Gas prices fall below $4 for first time since March
The average price for a gallon of regular gas fell below $4 for the first time in five months, according to AAA. The relief comes from an increase in global oil supply and a decrease in fuel demand. Errol Barnett takes a look.
Gas prices drop below $4 a gallon for first time since early March
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
Prices dropping across the U.S.
The national average gas price has dropped to below $4. Plus, wholesale prices dropped in July for the first time since April 2020. Jaime Quiros, senior portfolio manager at FBB Capital Partners, joins CBS News to discuss what these reports mean for the state of the economy.
Food costs hit highest inflation level in 40 years
Despite inflation slowing down in July, food prices are rising to levels not seen in more than 40 years. Yahoo Finance reporter Alexandra Semenova joins "CBS News Mornings" to discuss the latest.
Investors cheered by another sign U.S. inflation is easing
Economy is "experiencing a healthy deceleration, not a recession," Goldman Sachs analyst says.
U.S. stocks soar to 3-month high as inflation falls in July
Latest inflation data bolsters hopes that consumer prices have peaked and that the Fed can temper interest rate hikes.
MoneyWatch: Signs inflation is slowing
July's Consumer Price Index report showed a 8.5% annual inflation rate, down from 9.1% in June, which was the highest in over 40 years. The Wall Street Journal's Akani Otani joins CBS News with more on the economic impact.
Inflation rate declines a bit as gas prices drop
The annual inflation rate was 8.5% in July, a slight dip from the four-decade high of 9.1% in June. CBS News reporter Sarah Ewall-Wice breaks down what this means for American consumers.
Inflation rate down from 40-year high
The Consumer Price Index rose to 8.5% in the month of July, bringing inflation down from its 40-year high. Gas prices are falling, but the cost of food and rent are still increasing. Lori Bettinger, president of BancAlliance and the former director of the U.S. Treasury's Troubled Asset Relief Program, joined CBS News to discuss what this data means for the economy.
Drivers could soon see average gas prices hit $3.99 per gallon
Drivers have been cutting their miles traveled since March in response to high prices at the pump, one survey shows.
Parliamentarian alters drug plan in Inflation Reduction Act before Senate vote
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Stocks dip after strong jobs report offers mixed news for investors
New data on hot U.S. jobs market suggests Fed won't be reining in its aggressive rate hikes anytime soon.
Gas prices continue to fall
Gas prices are continuing to decline from record highs earlier this summer. Laura Sanicola, a reporter covering energy, refining and renewables for Reuters, joins CBS News to discuss the reasons behind the price drop.
Exclusive
CBS News took a boat into the Strait of Hormuz. Here's what we saw.
Reporters from CBS News carefully arranged a risky trip into the Strait of Hormuz. Here's what they saw.
Live
Iran says Strait of Hormuz "completely open" amid Israel-Lebanon ceasefire
President Trump has welcomed Iran's announcement that, at least while the Israel-Lebanon ceasefire holds, the Strait of Hormuz is "completely open" to all ships.
Trump says Iran has "agreed to everything," including removal of enriched uranium
President Trump spoke with CBS News Friday in a new telephone interview.
Exclusive
White House eyes alleged Utah scandal as GOP frets about redistricting loss
White House officials are leaning on Utah Republicans to further examine ethics concerns regarding a relationship between two key players in a key gerrymandering case, sources told CBS News.
Maps show more severe storms forecast for central U.S. after tornadoes, flooding
More than 51 million are under the threat of severe weather Friday evening from Texas to Wisconsin, as some are still cleaning up from tornadoes earlier in the week.
Trump to nominate Cameron Hamilton to run FEMA after he was ousted last year
Cameron Hamilton was acting leader of FEMA last year and was ousted after telling Congress that the agency should not be eliminated.
Senate passes short-term extension of surveillance law, following House
The House and Senate have now passed a 10-day extension for the controversial warrantless surveillance law.
UPS plane aborts landing as jet nears runway: "What are you doing?"
The incident occurred around 12:10 a.m. local time on Tuesday, according to the Federal Aviation Administration.
Ford recalls nearly 1.4 million pickup trucks due to gearshift issue
The recall affects F-150 vehicles quipped with a six-speed automatic transmission produced between March 12, 2014, and Aug. 18, 2017, according to NHTSA.
U.S.
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Trump says Iranians have "agreed to everything," including removal of enriched uranium
President Trump spoke with CBS News Friday in a new telephone interview.
Oil prices plummet after Iran says Strait of Hormuz is "completely open"
Prices dropped after Iran's foreign minister said the Strait of Hormuz is "completely open" for the remainder of the Israel-Lebanon ceasefire.
Exclusive
White House eyes alleged Utah scandal as GOP frets about redistricting loss
White House officials are leaning on Utah Republicans to further examine ethics concerns regarding a relationship between two key players in a key gerrymandering case, sources told CBS News.
U.S. could send senior officials back to Pakistan for Iran talks within days, sources say
The Trump administration is considering a renewed diplomatic push that could send officials back to Pakistan within days, sources said.
Senate passes short-term extension of surveillance law, following House
The House and Senate have now passed a 10-day extension for the controversial warrantless surveillance law.
MoneyWatch
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Oil prices plummet after Iran says Strait of Hormuz is "completely open"
Prices dropped after Iran's foreign minister said the Strait of Hormuz is "completely open" for the remainder of the Israel-Lebanon ceasefire.
Here's who is spending money on AI subscriptions, and how much they cost
Households are starting to make room in their budgets for spending on generative AI subscriptions, new data shows.
Ford recalls nearly 1.4 million pickup trucks due to gearshift issue
The recall affects F-150 vehicles quipped with a six-speed automatic transmission produced between March 12, 2014, and Aug. 18, 2017, according to NHTSA.
Airline adding triple-decker bunk beds in economy-class for long-haul flights
Air New Zealand will soon offer four-hour stints in triple-decker bunk beds for long-haul flights. The carrier says they'll be the first lie-flat beds for budget air travelers.
AI "agents" can do your shopping. Should you let them?
Big retailers are embracing agentic commerce as a new way to shop. But you should think twice before handing over your credit card, tech experts say.
Politics
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Trump says Iranians have "agreed to everything," including removal of enriched uranium
President Trump spoke with CBS News Friday in a new telephone interview.
Exclusive
White House eyes alleged Utah scandal as GOP frets about redistricting loss
White House officials are leaning on Utah Republicans to further examine ethics concerns regarding a relationship between two key players in a key gerrymandering case, sources told CBS News.
U.S. could send senior officials back to Pakistan for Iran talks within days, sources say
The Trump administration is considering a renewed diplomatic push that could send officials back to Pakistan within days, sources said.
Senate passes short-term extension of surveillance law, following House
The House and Senate have now passed a 10-day extension for the controversial warrantless surveillance law.
Trump to nominate Cameron Hamilton to run FEMA after he was ousted last year
Cameron Hamilton was acting leader of FEMA last year and was ousted after telling Congress that the agency should not be eliminated.
HealthWatch
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HealthWatch
Dr. Erica Schwartz nominated for CDC director
President Trump nominated a new director for the Centers for Disease Control and Prevention on Thursday. Dr. Erica Schwartz is a former deputy surgeon general and retired Coast Guard rear admiral.
RFK Jr. defends proposed 12% health budget cut, measles response in House testimony
Health Secretary Robert F. Kennedy Jr. testified before the House Ways and Means Committee on Thursday, kicking off an expected sprint of seven budget hearings he'll attend over the next week.
Trump announces he's nominating Dr. Erica Schwartz for CDC director
CBS News reported Wednesday that Dr. Erica Schwartz was emerging as the president's top pick for the role.
Exclusive
Trump to sign executive order on psychedelic drug used abroad to treat PTSD
Ibogaine is used in Mexico and the Caribbean to treat depression, anxiety, addiction and brain trauma.
As U.S. birth rate falls, Trump officials downplay contraception in Title X program
According to new CDC data, there were 3.6 million U.S. births in 2025, a 1% decline from 2024 and down 23% since 2007. The Trump administration has said it wants to reverse this trend.
World
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Trump says Iranians have "agreed to everything," including removal of enriched uranium
President Trump spoke with CBS News Friday in a new telephone interview.
U.S. could send senior officials back to Pakistan for Iran talks within days, sources say
The Trump administration is considering a renewed diplomatic push that could send officials back to Pakistan within days, sources said.
Exclusive
CBS News took a boat into the Strait of Hormuz. Here's what we saw.
Reporters from CBS News carefully arranged a risky trip into the Strait of Hormuz. Here's what they saw.
Activist recalls surviving assassination attempt caught on video
An environmentalist who survived an assassination attempt spoke during the presentation of a report that documented the killing of 10 activists in Mexico in 2025.
Ancient cave, hippo bones found under castle: "Once-in-a-lifetime discovery"
A prehistoric hidden cave and hippo bones found beneath Pembroke Castle could transform understanding of ancient life in Britain, researchers said
Entertainment
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Entertainment
AI version of Val Kilmer to star in new movie
Actor Val Kilmer died last April, and yet he is starring in a new movie, made after his death. Jo Ling Kent reports on how filmmakers resurrected his voice and image by using artificial intelligence.
Surprise twist in "Survivor 50" elimination
(Warning: Spoilers ahead!) "CBS Mornings" reveals a surprising twist in Wednesday's "Survivor 50" episode that led to a historic trial council ceremony.
More on Live Nation, Ticketmaster ruling
A jury ruled that Live Nation and Ticketmaster operated as an illegal monopoly. Variety's Jem Aswad joins CBS News with more.
Simon Helberg on "The Audacity"
Simon Helberg, known for his role as Howard in "The Big Bang Theory," talks about the new show "The Audacity." Helberg plays a developer who is creating an AI companion. He explains what drew him to the role and discusses the show's messages about humanity and technology.
What happened to influencer Clavicular?
Controversial influencer Clavicular said he is home from the hospital after his livestream abruptly ended on Tuesday night. CBS News' Matt Gutman reports and The Free Press' River Page has more.
Technology
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AI "agents" can do your shopping. Should you let them?
Big retailers are embracing agentic commerce as a new way to shop. But you should think twice before handing over your credit card, tech experts say.
AI version of Val Kilmer to star in new movie
Actor Val Kilmer died last April, and yet he is starring in a new movie, made after his death. Jo Ling Kent reports on how filmmakers resurrected his voice and image by using artificial intelligence.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Key takeaways on Anthropic's new AI model
More concerns are emerging about Anthropic's new Mythos AI model. Matt Shumer, a former AI company founder and CEO, joins CBS News with more details.
How hackers are using AI to breach networks
U.S. officials are warning of Iranian cyberattacks on businesses and consumers. It comes as a new FBI report shows losses from cybercrime reached nearly $21 billion last year. Ash-har Quraishi shows how hackers are using artificial intelligence, and how you can protect yourself.
Science
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First major forecast for 2026 Atlantic hurricane season is released
Colorado State University has released its annual Atlantic hurricane forecast, predicting 13 named storms and six hurricanes may develop during the 2026 season.
Creature thought to be world's oldest octopus isn't an octopus after all
Scientists have found evidence that a 300-million-year-old sea creature previously thought to be the world's oldest octopus is actually a nautilus relative.
March smashed heat records in several ways, federal data shows
Last month was the hottest March on record for the Lower 48 states, by the most for any month ever, federal data shows. And a forecast El Niño could heat Earth even more.
Emperor penguins listed as endangered species
The emperor penguin has been declared an endangered species as climate change pushes the icon of Antarctica a step closer to extinction, the global authority on threatened wildlife says.
Stunning photos from Artemis II show Earth, moon, eclipse from space
The astronauts aboard Artemis II are the first humans to see some parts of the far side of the moon with the naked eye.
Crime
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Crime
Why Todd Lyons is leaving his ICE role
Acting head of U.S. Immigration and Customs Enforcement Todd Lyons is planning to leave his post soon, U.S. officials familiar with his plan told CBS News. Camilo Montoya-Galvez reports.
ICE agent faces assault charges
Immigration and Customs Enforcement agent Gregory Morgan Jr. of Temple Hills, Maryland, is facing assault charges for allegedly pointing a gun at two people in Minnesota. CBS News' Jonah Kaplan reports.
Activist recalls surviving assassination attempt caught on video
An environmentalist who survived an assassination attempt spoke during the presentation of a report that documented the killing of 10 activists in Mexico in 2025.
Gallego reacts to misconduct allegations
Arizona Democratic Sen. Ruben Gallego is denying allegations of misconduct after his friend, California Rep. Eric Swalwell, resigned from his post over sexual misconduct accusations. CBS News' Nikole Killion reports.
Rep. Luna accuses Sen. Gallego of misconduct
Florida Republican Rep. Anna Paulina Luna joined CBS News on Thursday with allegations of misconduct linked to Arizona Democratic Sen. Ruben Gallego. Politico's Nicholas Wu joins CBS News with more as Gallego denies the accusations.
Space
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Artemis II crew on historic moon mission and what it means for Earth
"We are carrying back everything we learned, not only about where we went but ourselves," mission specialist Christina Koch told "CBS Evening News" anchor Tony Dokoupil.
Artemis II astronauts still awed by moonshot experience: "It was otherworldly"
The four Artemis II astronauts struggled to describe the view and overall experience of flying around the moon's far side and witnessing a solar eclipse in deep space.
"God of chaos" asteroid will pass close to Earth in 3 years, NASA says
People on the ground in the Eastern Hemisphere will be able to observe the asteroid with their own eyes, weather permitting, according to NASA.
Artemis II astronauts welcomed home to Houston after historic moonshot
The Artemis II astronauts flew back to the Johnson Space Center in Houston Saturday to cheers and applause from family members and hundreds of NASA workers.
9 highlights from Artemis II's epic journey around the moon
The Artemis II crew's nine-day moon mission set a record for the farthest any human has ever traveled from Earth. Here's a look at the key moments.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
CBS News travels through Strait of Hormuz
CBS News senior foreign correspondent Imtiaz Tyab took a boat into the Strait of Hormuz after weeks of planning. Here's what he and his team saw.
Why Todd Lyons is leaving his ICE role
Acting head of U.S. Immigration and Customs Enforcement Todd Lyons is planning to leave his post soon, U.S. officials familiar with his plan told CBS News. Camilo Montoya-Galvez reports.
Key details on Strait of Hormuz announcement
Iran and President Trump announced that the Strait of Hormuz will now be open, but questions remain about the flow of traffic in the key water passage. CBS News' Olivia Rinaldi reports.
Trump says Strait of Hormuz is open
President Trump posted on social media claims that the Strait of Hormuz will be "completely open." CBS News' Natalie Brand reports.
Ukrainians react to massive Russian attack
Ukrainians jumped in to help after a massive Russian attack left massive damage in Kyiv. CBS News' Aidan Stretch reports.