Investors close out 2023 with a stock market gain of 24%
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
Inflation
How the U.S. avoided a recession in 2023
Many experts predicted the U.S. would fall into a recession in 2023, mostly due to the Federal Reserve's interest rate hikes. The nation's economy is instead closing the year on a high note. CBS News senior business and tech correspondent Jo Ling Kent examines why.
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
What happens to the billions in gift cards that go unspent every year?
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
Many who are struggling financially won't be buying any gifts this season
Just 1 in 5 say they'll buy more gifts for others this season, compared to recent past years — and this is true even among higher-income earners.
Inflation falls for the first time since April 2020
The Federal Reserve's preferred measure of inflation fell last month in another sign that prices are easing.
Breaking down Argentina's inflation crisis
Argentina is experiencing rapid economic change under the leadership of new president Javier Milei as the third-largest economy in Latin America continues to suffer from decades of struggles. CBS News' Errol Barnett looks at how Argentina ended up in this economic situation.
Biggest financial stories heading into 2024
Concerns over inflation and a potential recession drove economic headlines in 2023, but new data shows consumer confidence is at a five-month high as we head into the new year. Javier David, CBS News contributor and a managing editor of business and markets at Axios, has a look at the economic outlook for 2024.
Survey: Americans overstate president's power
A recent survey suggests the American public tends to hold exaggerated ideas of what a president can and can't do. Brendan Nyhan, professor of government at Dartmouth College and one of the survey's co-authors, joins CBS News to unpack the findings.
Consumers signal optimism this holiday season
Consumer confidence climbed this month, appearing to signal optimism in the U.S. economy during the holiday season, according to a new report by The Conference Board. Dana Peterson, the chief economist at The Conference Board, joins CBS News with a look at the new data.
When will Fed reach inflation goal?
The Federal Reserve's actions appear to be cooling inflation in the U.S. economy. Bartie Scott, a senior economy editor at Business Insider, joins CBS News with a look at the goals the government has set.
Egg prices are expected to soar
Egg prices could spike again, thanks to an avian flu outbreak at a large egg producer. Courtenay Brown, an economics reporter for Axios, joins CBS News with a look at how this could affect Americans already grappling with inflation.
Costco sells $100 million in gold bars amid inflation fears
Consumer's snapped up Costco's new gold bar offerings, contributing to the company's strong earnings last quarter.
Annual raises likely lower in 2024: Survey
Employers plan to offer an average salary increase of 4% for 2024, nearly half a percent less than last year, according to a new survey from Willis Towers Watson, which advises companies on compensation issues. Lori Wisper, a managing director at WTW, joins CBS News with the projections.
Here's what a "soft landing" for the U.S. economy means for you
Wall Street economists increasingly predict inflation will continue to cool while avoiding a recession sparked by the Fed's rate hikes.
Fed hints at interest rate cuts in 2024
Federal Reserve chair Jerome Powell announced Wednesday that interest rates would remain unchanged through the end of 2023 and indicated there could be rate cuts coming next year. Greg McBride, the chief financial analyst at Bankrate, joined CBS News to discuss what could be coming for the economy.
How high interest rates hurt tech startups
Tech startups faced closures and layoffs in 2023 as the Federal Reserve raised interest rates to a 22-year high. New York Times reporter Erin Griffith joins CBS News to explain what's going on in Silicon Valley.
Dow surges after Fed keeps rates unchanged
The Dow soared more than 500 points on Wednesday, closing over 37,000 for the first time. The surge came after the Federal Reserve said it is keeping interest rates unchanged for the third time in a row. Gregory Daco, chief economist at Ernst and Young, joins CBS News to unpack the Fed's decision.
Federal Reserve to decide on interest rates
The Federal Reserve on Wednesday will announce another decision on interest rates with the expectation it will not raise or cut them. CBS News contributor and Axios' managing editor of business and markets Javier David joins CBS News with his analysis.
Fed unlikely to raise interest rates
Wholesale inflation remained unchanged in November after Dow Jones economists predicted a tenth of a percentage point increase. Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program, joined CBS News to discuss what the new numbers could mean for interest rates.
Jill Schlesinger on inflation, interest rates
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the latest Consumer Price Index report, which shows inflation slowing. Plus, what to expect on interest rates from the final Federal Reserve meeting of the year.
Inflation holds steady in latest CPI report
Consumer prices crept up a tenth of a percent in November as the cost of certain goods and services rose last month while energy and gas prices saw a decline. CBS News senior business and technology correspondent Jo Ling Kent has more.
Record-breaking holiday shopping
Just over 200 million people went shopping between Thanksgiving to Cyber Monday, beating the National Retail Federation's expectations and breaking last year's record. Katherine Cullen, vice president of industry and consumer insights for the National Retail Federation, joined CBS News to discuss what the organization expects to be a holiday season with record-breaking shopping levels.
Inflation eased in November as gas prices fell
Inflation across the U.S. continues to fall but remains sticky, with the cost of rent, medicare care and used cars edging up last month.
How Biden's pro-Israel stance may impact 2024
A new CBS News poll shows what Americans think about the economy and the Israel-Hamas war, with major implications for 2024. CBS News' Anthony Salvanto, Ed O'Keefe and Bo Erickson have more.
Justice Department releases initial trove of Epstein files under new law
The Justice Department has released records from the Epstein files, the first documents to come to light under a new law signed by President Trump.
Investigators struggled to ID Brown suspect while gunman went on to kill again
The manhunt for the Brown University shooter was complicated by the early misidentification of a person of interest and limited, low-quality video footage.
U.S. strikes ISIS targets in Syria, after killing of 2 soldiers and interpreter
The airstrikes on ISIS targets are being conducted in response to the killing of two U.S. Army soldiers and an civilian contractor by a lone terrorist in Palmyra, Syria.
Over 500 pages in Epstein files were entirely blacked out, CBS News finds
The Justice Department released thousands of new photos and records on Jeffrey Epstein on Friday, but at least 550 pages in the documents are fully redacted.
Greg Biffle's wife texted "we're in trouble" before crash, her mother says
Cathy Grossu, the mother-in-law of retired NASCAR driver Greg Biffle, said she had seen the family a day before the fatal crash.
Justice Dept. appealing decision tossing out James Comey and Letitia James cases
A federal judge ruled that Lindsey Halligan, the prosecutor who secured the indictments against them, was unlawfully appointed to her role as interim U.S. attorney.
Russia strikes Ukrainian port, killing 8 and wounding dozens
Some of the wounded were on a bus at the epicenter of the strike, Ukraine's Emergency Service said.
Motive sought after suspect in Brown shooting, MIT professor's murder found dead
The Brown University shooting suspect was found dead in a storage unit in New Hampshire. Authorities believe he is also responsible for killing an MIT professor.
Rob Reiner's friends and colleagues share fond and funny memories
Friends and colleagues of Rob Reiner sat down with CBS News to share personal anecdotes and fond memories of him following the news of his tragic death.
U.S.
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Stefanik drops out of New York governor's race after Trump stays neutral
Republican Rep. Elise Stefanik's decision to drop out came after President Trump signaled he would not make an endorsement in the race at this stage.
Anthony Joshua defeats Jake Paul by knockout
Former two-time heavyweight champion Anthony Joshua defeated YouTuber-turned-fighter Jake Paul by knockout in the sixth round of their much-anticipated bout at the Kaseya Center in Miami late Friday night.
Third inmate who escaped from southern Louisiana jail captured, officials say
The three men had escaped the jail by removing concrete blocks from an upper wall area, and then used sheets and other materials to scale an exterior wall.
Over 500 pages in Epstein files were entirely blacked out, CBS News finds
The Justice Department released thousands of new photos and records on Jeffrey Epstein on Friday, but at least 550 pages in the documents are fully redacted.
Investigators struggled to ID Brown suspect while gunman went on to kill again
The manhunt for the Brown University shooter was complicated by the early misidentification of a person of interest and limited, low-quality video footage.
MoneyWatch
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Want to work in AI? Here are the skills to master, economist says
Rapid emergence of AI will foster demand for new types of workers, including "explainers" and bias auditors, according to economist Robert Seamans.
Here's how much ACA costs would have risen this year without subsidies
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Trump reaches deal with 9 major drugmakers to lower prices
Nine drug manufacturers will offer their drugs to Medicaid recipients at most-favored-nation discounts in exchange for tariff exemptions.
Judge in nursing home bankruptcy case gives families fresh hope
A bankruptcy judge blocked an attempt by a nursing home chain's primary investor to shield himself from settlement payments and liability in lawsuits over allegations of poor care.
DraftKings hopes to score big with new prediction markets app
Sports betting companies face mounting competition from rapidly growing prediction markets such as Kalshi and Polymarket.
Politics
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Stefanik drops out of New York governor's race after Trump stays neutral
Republican Rep. Elise Stefanik's decision to drop out came after President Trump signaled he would not make an endorsement in the race at this stage.
Over 500 pages in Epstein files were entirely blacked out, CBS News finds
The Justice Department released thousands of new photos and records on Jeffrey Epstein on Friday, but at least 550 pages in the documents are fully redacted.
Justice Dept. appealing decision tossing out James Comey and Letitia James cases
A federal judge ruled that Lindsey Halligan, the prosecutor who secured the indictments against them, was unlawfully appointed to her role as interim U.S. attorney.
How to view the Epstein files, and initial takeaways from the first documents
The Justice Department has disclosed thousands of files and photos related to late sex offender Jeffrey Epstein, following years of pressure from lawmakers and abuse survivors.
U.S. strikes ISIS targets in Syria, after killing of 2 soldiers and interpreter
The airstrikes on ISIS targets are being conducted in response to the killing of two U.S. Army soldiers and a civilian contractor by a lone terrorist in Palmyra, Syria.
HealthWatch
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Here's how much ACA costs would have risen this year without subsidies
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Inside the FDA's vaccine uproar
A memo from Dr. Vinay Prasad, the head of the FDA's Center for Biologics Evaluation and Research, may signal an effort to to rewrite the rules governing the U.S. vaccine system.
Trump administration unveils proposals to cut off transgender care for minors
The proposals run counter to the recommendations of most major U.S. medical organizations.
Measles outbreaks worsen in South Carolina, Arizona and Utah
Nationally, the measles case count is nearing 2,000 for a disease that has been considered eliminated in the U.S. since 2000, a result of routine childhood vaccinations.
He made his brothers see a cardiologist. Each had advanced heart disease.
Kevin Murray was his family's health watchdog. His vigilance helped his brothers "avoid a real catastrophe."
World
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Russia strikes Ukrainian port, killing 8 and wounding dozens
Some of the wounded were on a bus at the epicenter of the strike, Ukraine's Emergency Service said.
U.S. strikes ISIS targets in Syria, after killing of 2 soldiers and interpreter
The airstrikes on ISIS targets are being conducted in response to the killing of two U.S. Army soldiers and a civilian contractor by a lone terrorist in Palmyra, Syria.
3 killed in knife attack in Taiwan, suspect falls to his death from store
Police said the suspect was declared dead at a hospital after jumping from the building's sixth floor, the Central News Agency reported.
Ukraine claims strike on oil tanker as Putin plays down peace prospects
Putin claims no "willingness from Ukraine" to negotiate a peace deal as he touts battlefield gains, and Kyiv claims a brazen strike on a ship far from Russia.
Australia announces gun buyback plan just days after Bondi Beach attack
Australia will use a sweeping buyback scheme to "get guns off our streets," Prime Minister Anthony Albanese said Friday.
Entertainment
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Rob Reiner's friends and colleagues share fond and funny memories
Friends and colleagues of Rob Reiner sat down with CBS News to share personal anecdotes and fond memories of him following the news of his tragic death.
Kiefer Sutherland recalls "extraordinary" day on set with Rob Reiner
Kiefer Sutherland recalls Rob Reiner's reaction to filming Jack Nicholson's famous scene in "A Few Good Men."
Albert Brooks remembers his "oldest friend" Rob Reiner
Albert Brooks said he's still in shock over the death of his friend Rob Reiner, whom he met at 14 years old.
Kathy Bates says Rob Reiner "changed the course of my life" with "Misery" role
Kathy Bates rose to prominence with her Oscar-winning breakout role in Rob Reiner's adaptation of Stephen King's "Misery" in 1990.
Jelly Roll pardoned by Tennessee governor for robbery, drug convictions
Jelly Roll had said a pardon would make it easier for him to travel internationally for concert tours and to perform Christian missionary work without requiring burdensome paperwork.
Technology
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Want to work in AI? Here are the skills to master, economist says
Rapid emergence of AI will foster demand for new types of workers, including "explainers" and bias auditors, according to economist Robert Seamans.
DraftKings hopes to score big with new prediction markets app
Sports betting companies face mounting competition from rapidly growing prediction markets such as Kalshi and Polymarket.
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.
Japanese woman marries AI boyfriend
People are starting to develop lasting connections with artificial technology. Melissa J. Perry, the dean of the College of Public Health at George Mason University, joins CBS News with more details.
TikTok nears deal to avoid U.S. ban
TikTok has signed a deal to sell its U.S. operations to a group of investors in America, a source familiar with the deal tells CBS News. Jo Ling Kent has more.
Science
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Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
Dinosaur tracks showing "herds moving in synchrony" found in Italy
Most of the footprints are elongated and made by bipeds. The best-preserved ones bear traces of at least four toes.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
Fossil footprints in Bolivia reveal dinosaurs' awkward attempts to swim
Paleontologists have discovered and documented 16,600 footprints left by theropods, the dinosaur group that includes the Tyrannosaurus rex.
Crime
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Crime
Epstein survivor on partial files release
The Justice Department released a new batch of files related to convicted sex offender Jeffrey Epstein on Friday. Epstein survivor Sharlene Rochard joins with her reaction. Then, Spencer Kuvin, an attorney who represents some Epstein survivors, provides further analysis.
New photos in initial trove of Epstein files
The Justice Department on Friday released a batch of files related to convicted sex offender Jeffrey Epstein. CBS News' Erica Brown and Katrina Kaufman report.
Investigators struggled to ID Brown suspect while gunman went on to kill again
The manhunt for the Brown University shooter was complicated by the early misidentification of a person of interest and limited, low-quality video footage.
Search for motive in Brown and MIT shootings
The manhunt for the suspect in Saturday's deadly shooting at Brown University is finally over. Police discovered 48-year-old Claudio Manuel Neves Valente dead in a New Hampshire storage unit on Thursday night. CBS News' Anna Schecter explains what led to the discovery.
New Epstein files: What we've learned so far
The Department of Justice has released hundreds of thousands of files related to the criminal prosecutions of convicted sex offender Jeffrey Epstein. CBS News justice reporter Jake Rosen has more.
Space
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Jared Isaacman, billionaire who's flown with SpaceX, confirmed to lead NASA
President Trump withdrew Isaacman's nomination for NASA administrator in April, before nominating him again in November.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
"Wet lava ball" exoplanet may have an atmosphere, evidence shows
Super-Earth TOI-561b is about 40 times closer to its host star than Mercury is to the sun.
NASA says Maven spacecraft that was orbiting Mars has gone silent
NASA has lost contact with a spacecraft that's been orbiting Mars for more than a decade.
Black hole spotted blasting winds at 130 million miles per hour
The European Space Agency said that the black hole inside the spiral galaxy NGC 3783 has the mass of 30 million suns.
Latest Galleries
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
"Son of Sam": A serial killer's reign of terror
Calling himself the "Son of Sam" in a letter left at one of the crime scenes, David Berkowitz claimed voices were ordering him to kill -- starting in the summer of 1976, he went on a 13-month spree of impulse killings in New York City that left six dead and seven injured
Latest CBS News Videos
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Latest CBS News Videos
The Uplift: Made with love
Visit a Uyghur restaurant in Southern California, where culture is shared and the food is made with love. Plus, a man who wanted to save his friends life by donating a kidney ends up saving his own life.
Epstein survivor on partial files release
The Justice Department released a new batch of files related to convicted sex offender Jeffrey Epstein on Friday. Epstein survivor Sharlene Rochard joins with her reaction. Then, Spencer Kuvin, an attorney who represents some Epstein survivors, provides further analysis.
Trump holding North Carolina rally on economy
President Trump is holding a rally in North Carolina on Friday as he works to turn around public opinion on the economy. CBS News congressional correspondent Nikole Killion reports.
Doctor joins Secret Santa to surprise strangers
As you've no doubt heard, Santa Claus is coming to town. In fact, he's already been to Baltimore. Steve Hartman met him "On the Road."
Trump announces deals to lower drug prices
President Trump announced new agreements on Friday with nine pharmaceutical companies aimed at making certain prescription drugs cheaper. CBS News reporter Karen Hua has the details.