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.
Gas Prices
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.
U.S. gas prices fall for 7 straight weeks
The cost of a gallon of gas continues to fall in the U.S. Ellen Wald, senior fellow at the Atlantic Council's Global Energy Center, joins "CBS News Mornings" to discuss what's helping ease the pain at the pump.
Why gasoline prices have dropped for 7 straight weeks
Drivers are paying about $1 less per gallon than they did in June. The reason for that could hint at trouble ahead.
Biden's big week despite COVID isolation
CBS News Radio White House correspondent Steven Portnoy joined Nikki Batiste and Lana Zak to talk about the response out of Washington regarding China's military exercises near Taiwan, President Biden's latest executive order expanding abortion access and what many are considering a successful week for the administration.
Diesel fuel prices impacting trucking industry
As diesel prices sit near all-time highs, the rising cost is having a ripple effect on the economy. Michael Nicholson, co-owner of moving and storage company The Moving Squad, joined CBS News' Nikki Battiste to discuss the effects of inflation on his bottom line.
Surging gas prices increase other costs
Rising gas prices are causing a ripple effect across the U.S. economy, raising shipping and transportation costs as well. Harrison Fell, economist and senior research scholar at Columbia University's Center on Global Energy Policy, joined CBS News' Enrique Acevedo to discuss.
Stocks fall as House Speaker Nancy Pelosi lands in Taiwan
Financial markets wobble amid investor concerns that the House speaker's visit could heighten U.S.-China tensions.
Job openings fall as the U.S. economy shrinks
American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates.
Biden may tap oil reserve, eyeing gas prices
President Biden is expected to order the release of up to 1 million barrels of oil a day from the nation's strategic petroleum reserve in a bid to lower gas prices. Russian forces keep pounding Ukraine in areas where Moscow pledged to scale back. And the Hubble telescope has discovered a blue, supergiant star that’s the farther from Earth than any star ever spotted.
Gas prices on the rise
The average price of gas is more than $4 for the first time since 2008, pushed up by Russia's invasion of Ukraine and economic sanctions imposed on Russia by the U.S. and its allies. Robert Sinclair, senior manager of public affairs at AAA, joins CBS News' Jim Axelrod and Tanya Rivero to break down the rising prices and what American's can expect.
Possibility of economic recession looms
The possibility of a recession is looming large, as the Federal Reserve raises interest rates in the hopes of driving down inflation. President Joe Biden's critics argue he's not doing enough to address the issue and say rate hikes could cause more economic turmoil. Rick Newman, senior columnist with Yahoo Finance, joined CBS News to discuss some ways to lower consumer costs and prevent an economic downturn.
MoneyWatch: Gas prices reach record high
Gas prices reached another record high Friday. Plus, the U.S. is seeing a shortage of diesel that could spell trouble in the summer months. Tom Kloza, head of energy analysis at the Oil Prices Information Services, joins CBS News to discuss rising gas prices and what drivers can expect in the coming months.
Jobs report shows stronger growth
The U,S. added 372,000 new jobs in the month of June according to the latest report from the Labor Department. Axios business reporter Hope King joined CBS News to discuss this stronger than predicted growth.
The road ahead for electric vehicles
High gas prices have more consumers considering purchasing electric vehicles. Momentum Dynamics adviser Roger Atkins, the founder of Electric Vehicles Outlook, joined CBS News' Mola Lenghi and Nikki Battiste with more on an electric future.
MoneyWatch: Fed announces interest rate hike
The Federal Reserve announced a 0.25% interest rate hike -- the first increase since 2018. The Wall Street Journal's chief economics correspondent Nick Timiraos, author of "Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster," joins CBS News to explain what this means for American consumers.
Oil refineries ramp up processing
Gas prices are continuing to rise and now oil refineries are ramping up processing activity to the highest levels since the pandemic began. Tom Kloza, global head of energy analysis at the Oil Price Information Service, joins CBS News to discuss what this means and why oil exports could be a hot topic in Washington in the near future.
Small businesses struggle with inflation
The U.S. Commerce Department reported last month that major corporations were extremely profitable in 2021. But small business owners say they are struggling to compete as prices continue to rise. CBS News reporter Sarah Ewall-Wice joins Elaine Quijano to discuss.
Stock market hit by inflation fears
Stock markets tanked early Friday after news that May's Consumer Price Index rose more than economists expected. Melissa Armo, founder and owner of The Stock Swoosh, LLC, joined CBS News to discuss the market's reaction to rising inflation.
Live
Israel, Lebanon extend ceasefire as Iran says it "cannot trust" U.S. in negotiations
Two days of talks in Washington between Lebanon and Israel produced an extension of the current ceasefire by 45 days.
Supreme Court rejects Virginia Democrats' bid to revive new congressional map
The Supreme Court on Friday rejected a bid by Virginia Democrats to revive its new voter-approved congressional map that was drawn to advantage the party for the upcoming midterm elections.
New York doctor who survived Ebola says he fears for healthcare workers
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Colorado governor commutes Trump ally Tina Peters' prison sentence
Colorado's governor on Friday announced he is commuting the sentence of former Mesa County Clerk Tina Peters.
Lawmakers press Trump for military support for Taiwan after Xi summit
President Trump told reporters he made "no commitment either way" to China's Xi Jinping regarding U.S. weapons sales to Taiwan.
Trump says U.S. kills Islamic State leader in Nigeria
President Trump announced Friday evening that U.S. and Nigerian military forces had killed Abu-Bilal al-Minuki, a leader in the Islamic State group.
Long Island Rail Road workers go on strike after failing to reach new contract
The strike stems from an inability to reach a deal on a new four-year contract. The MTA and unions agreed to the terms of the first three years, but disputes arose about the final year.
Prominent N.Y. synagogue targeted in alleged terror plot, prosecutors say
An Iraqi national allegedly plotted to carry out terror attacks in the U.S., including at a prominent synagogue in New York, prosecutors said Friday.
Controversial FDA official leaving drug center post in latest departure at agency
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
U.S.
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New York doctor who survived Ebola says he fears for healthcare workers
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Controversial FDA official leaving drug center post in latest departure at agency
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
A longtime Atlanta principal retired, then returned to his school as a handyman
David White retired as the longtime principal at the Burgess-Peterson Academy in Atlanta, and then returned to the school as its handyman.
SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
Supreme Court rejects Virginia Democrats' bid to revive new congressional map
The Supreme Court on Friday rejected a bid by Virginia Democrats to revive its new voter-approved congressional map that was drawn to advantage the party for the upcoming midterm elections.
MoneyWatch
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Trump talks up trade deals with China, but experts see no big wins for U.S.
President Trump's trip to China could bolster economic relations, but failed to deliver a breakthrough deal, some trade and energy experts said.
Which college majors offer the best long-term return on investment?
College grads outearn people without a degree within 15 years, even after paying for tuition, study finds.
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Oklahoma becomes latest state to sue Roblox over child safety concerns
Oklahoma has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Politics
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Trump says U.S. kills Islamic State leader in Nigeria
President Trump announced Friday evening that U.S. and Nigerian military forces had killed Abu-Bilal al-Minuki, a leader in the Islamic State group.
Controversial FDA official leaving drug center post in latest departure at agency
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
Supreme Court rejects Virginia Democrats' bid to revive new congressional map
The Supreme Court on Friday rejected a bid by Virginia Democrats to revive its new voter-approved congressional map that was drawn to advantage the party for the upcoming midterm elections.
Trump talks up trade deals with China, but experts see no big wins for U.S.
President Trump's trip to China could bolster economic relations, but failed to deliver a breakthrough deal, some trade and energy experts said.
Lawmakers press Trump for military support for Taiwan after Xi summit
President Trump told reporters he made "no commitment either way" to China's Xi Jinping regarding U.S. weapons sales to Taiwan.
HealthWatch
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New York doctor who survived Ebola says he fears for healthcare workers
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Controversial FDA official leaving drug center post in latest departure at agency
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
Health officials battle new Ebola outbreak
Doctors are monitoring an Ebola epidemic in Africa that may be to blame for dozens of deaths so far. Lilia Luciano reports and spoke with a U.S. doctor who recovered from the virus.
The origins of hantavirus
The deadly hantavirus outbreak on a Dutch-flagged cruise ship was caused by the Andes virus, the only known strain to spread from person to person. Rodents are known to carry hantavirus, but what's the disease's origin story? Ramy Inocencio explains.
Ebola outbreak in Congo kills dozens, Africa's CDC says
A new Ebola outbreak in a remote province in Congo has caused 65 deaths and 246 suspected cases so far, Africa CDC says.
World
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Trump says U.S. kills Islamic State leader in Nigeria
President Trump announced Friday evening that U.S. and Nigerian military forces had killed Abu-Bilal al-Minuki, a leader in the Islamic State group.
New York doctor who survived Ebola says he fears for healthcare workers
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Lawmakers press Trump for military support for Taiwan after Xi summit
President Trump told reporters he made "no commitment either way" to China's Xi Jinping regarding U.S. weapons sales to Taiwan.
U.S. reups $6M reward for American missing in Afghanistan for 12 years
Paul Edwin Overby Jr. vanished in May 2014 while researching a book in Khost province, Afghanistan, the FBI said.
Cuba's biggest threat to U.S. is collapse, says former defense secretary
In an interview with "Face the Nation," Gates said another mass exodus from Cuba is the "biggest risk."
Entertainment
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Entertainment
Inside look at "Jack Ryan: Ghost War"
John Krasinski and Michael Kelly join "CBS Mornings" to discuss reuniting for the movie, "Tom Clancy's Jack Ryan: Ghost War," after starring in the TV series "Tom Clancy's Jack Ryan" for four seasons. They discuss the movie, their friendship and how they balance it all with their busy family lives.
Previewing new season of "Couples Therapy"
Dr. Orna Guralnik speaks to "CBS Mornings" about the new season of the docuseries "Couples Therapy," which features Guralnik counseling four new couples on how to tackle issues in their relationships, including major political differences and infidelity.
Drake releases three new albums
In a surprise, Drake dropped three new albums Thursday night, including "Iceman." It's the Canadian rapper's first new music since his explosive public feud with Kendrick Lamar.
Yellowstone spinoff "Dutton Ranch" premieres
Yellowstone actors Cole Hauser and Kelly Reilly are reprising their roles as the fan-favorite onscreen couple Rip Wheeler and Beth Dutton in the newest "Yellowstone" spinoff, "Dutton Ranch." CBS News' Julianne Ferreira has more.
From the archives: Outspoken film critic Rex Reed
Film critic Rex Reed, whose clever and barbed opinions about movies – and movie stars – made him a fixture for decades in print and on television, died on May 12, 2026 at age 87. In this Feb. 4, 2018 "Sunday Morning" profile, Reed talked with Mo Rocca about how he came to live the life of an A-Lister himself. He also dispensed his unvarnished opinions about that year's best picture Oscar-nominees.
Technology
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Technology
Waymos get in Atlanta traffic jam
Atlanta residents woke up to Waymo traffic jams on Friday. The driverless cars took over a quiet cul-de-sac. Skyler Henry has more details.
Oklahoma becomes latest state to sue Roblox over child safety concerns
Oklahoma has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
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.
How the Trump-Xi summit could impact AI race
President Trump's visit to Beijing comes as the U.S. and China compete for artificial intelligence supremacy. Matt Sheehan, senior fellow at the Carnegie Endowment for International Peace, joins with analysis.
Closing arguments held in OpenAI case
Lawyers presented closing arguments Thursday in the OpenAI trial pitting Elon Musk against its CEO, Sam Altman. CBS News legal contributor Jessica Levinson has more.
Science
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New dinosaur weighing as much as 9 elephants identified by scientists
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Emperor penguins in focus as Antarctica talks start in Japan
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Crime
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Crime
Terror plot foiled, suspect under arrest
A terror plot targeting Jewish institutions in New York, California and Arizona has been foiled, and a man linked to the alleged scheme is under arrest on Friday. Prosecutors say the Iraqi suspect is tied to other global attacks and claim he wanted payback for the U.S. and Israeli war on Iran. Tom Hanson reports.
Iraqi man charged with terror plot: officials
An Iraqi national was arrested and charged with planning to carry out several terror attacks in the U.S., including at a New York City synagogue and other prominent Jewish centers in Los Angeles and Scottsdale, Arizona. CBS News' Anna Schecter reports.
Sources: Iraqi national planned synagogue attacks
Federal prosecutors charged an Iraqi national on Friday with planning several terrorist attacks in the U.S. as retribution for the Iran war. CBS News' Anna Schecter has the latest.
Iraqi national accused of plotting attacks
Mohammad Baqer Saad Dawood Al-Saadi is facing federal charges for allegedly plotting several terror attacks in the U.S., including targeting a Jewish institution in New York. CBS News' Anna Schecter and Jake Rosen report.
Prominent N.Y. synagogue targeted in alleged terror plot, prosecutors say
An Iraqi national allegedly plotted to carry out terror attacks in the U.S., including at a prominent synagogue in New York, prosecutors said Friday.
Space
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SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Latest Galleries
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Notable Deaths in 2026
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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
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Timeline: The disappearance of George Smith
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Who is Alix Tichelman?
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Latest CBS News Videos
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Latest CBS News Videos
5/16: The Uplift
David Begnaud meets a man who has attended the Kentucky Derby for 79 years in a row – and his dying wish to make it there one last time.
Principal retires and returns as a handyman
58-year-old David White retired after 33 years in education, the last 15 spent as an elementary school principal in Atlanta. But after "just hanging out with the cat," he decided to go back to school as a handyman. Steve Hartman goes "On the Road" with the story.
Analyzing Jerome Powell's legacy
Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.
What role does Raúl Castro play in Cuba?
The U.S. is taking steps to indict Raúl Castro, the 94-year-old former president of Cuba, U.S. officials say. CBS News' Lilia Luciano reports.
Wife of Army soldier released from ICE
The wife of an active-duty U.S. Army soldier detained by Immigration and Customs Enforcement was released on Thursday after a month in custody. CBS News immigration correspondent Camilo Montoya-Galvez reports.