Stocks jump, with Wall Street on track for rare winning week
Financial markets are rising, with some analysts predicting an economic slowdown rather than a recession.
Inflation
Jobless claims down from previous week
According to the U.S. Department of Labor, initial jobless claims fell to 229,000 for the week ending June 18th. That's 2,000 fewer than the previous week. CBS News reporter Sarah Ewall-Wice joined Errol Barnett and Anne-Marie Green to discuss what these numbers mean for the U.S. economy and yesterday's congressional testimony on inflation from Federal Reserve Chair Jerome Powell.
Is inflation deflating retirement savings?
Dan Geltrude, founder of accounting and financial consulting firm Geltrude and Company, offers advice for navigating retirement spending as inflation soars and the stock market sinks.
Biden proposes federal gas tax holiday
President Biden is calling on Congress to suspend the federal 18-cent federal gas tax and 24-cent federal diesel tax. CBS News chief White House correspondent Nancy Cordes reports.
Biden proposes gas tax holiday
CBS News' Tanya Rivero and Elaine Quijano sit down with Aaron Weinman, a finance correspondent for Insider, to discuss what is driving the financial markets, the probability of a recession, and President Biden's proposed gas tax holiday.
Biden urges Congress to suspend gas tax for 3 months
President Biden called on Congress to halt the federal gas tax for three months as gas prices soar. But there's debate about whether it will actually help consumers. Nancy Cordes has the details.
Stocks droop on Fed's commitment to "restore price stability"
Stocks have slumped in recent weeks amid investor fears that sharply higher interest rates could trigger a recession.
MoneyWatch: Banks predict U.S. recession
Several major investment banks are predicting that the U.S. will enter a recession sometime this year. This month the Federal Reserve announced its highest interest rate hike in decades in an effort to control inflation. Yahoo Finance Senior Reporter Emily McCormick joins “CBS News Mornings” to discuss the latest on the economy.
President Biden calls for gas tax holiday
President Joe Biden is urging congress to pass a three-month federal gas tax holiday. However, some Democrats -- including former President Barack Obama -- have long criticized the idea. CBS News Senior White House and Political Correspondent Ed O'Keefe has more on why Biden is moving forward with this proposal.
Fed will keep raising interest rates as long as appropriate
Fed Chairman Jerome Powell acknowledged recession is possible but later said its likelihood is not "particularly elevated right now."
Stocks bounce back after steep selloff last week
Financial markets rebounded Tuesday, but some analysts think U.S. stocks have yet to touch bottom.
What is Stagflation
The term describes when the economy suffers from high unemployment and inflation with low growth. Lana Zak explains why economists are worried it could happen again.
Recession fears surge among financial experts
President Joe Biden insists that a recession is not inevitable despite some experts forecasting that it could happen within the next year. CBS News Money Watch reporter Megan Cerullo discussed inflation and how it may impact the U.S. economy with anchors Tony Dokoupil and Tanya Rivero.
White House says recession is not inevitable
As inflation remains high and the stock market falls, U.S. Treasury Secretary Janet Yellen and other White House officials are amplifying President Joe Biden's message that a recession is not inevitable. CBS News anchors Anne-Marie Green and Vladimir Duthiers spoke with political correspondent Caitlin Huey-Burns about the Biden Administration's potential plans to offer temporary relief from rising gas prices.
What's driving inflation in the U.S.
CBS News senior national correspondent Mark Strassmann reports on what's driving the rise in prices and how Americans are coping with inflation.
Open: This is "Face the Nation with Margaret Brennan," June 19
This week on “Face the Nation with Margaret Brennan,” we discuss the Jan. 6 hearings with Rep. Zoe Lofgren, a Democrat from California, go over the recently approved COVID-19 vaccine for kids with former FDA Commissioner Dr. Scott Gottlieb and take a look at America’s inflation problem.
Stock market ends volatile week with sharp losses
The U.S. stock market on Friday ended its worst week since March 2020. John Quelch, dean of the University of Miami Herbert Business School, joins CBS News senior investigative correspondent Catherine Herridge to discuss the state of the economy.
Global fallout from Russia's invasion
The conflict raging in Ukraine is damaging worldwide economic growth and driving inflation. Michael Bociurkiw, senior fellow at The Atlantic Council's Eurasia Center, joins "CBS News Mornings" to talk about why the worst might still be ahead and other news about the conflict.
Biden predicts a recession is "not inevitable"
President Joe Biden, in an interview with The Associated Press Thursday, said the American people are "really, really down" because of COVID-19 and high prices.
Mortgage rates in the U.S. jump by most in 35 years
Borrowing costs for a typical home loan surged a day after the Federal Reserve hiked its benchmark rate.
White House reacts to historic fed hike
The Federal Reserve took aggressive action to combat rising inflation by raising interest rates by 0.75%, the largest increase since 1994. Chief White House correspondent Nancy Cordes has the latest reaction from the White House.
Financial expert talks impact of rate hike
The Federal Reserve raised interest rates by 0.75 percentage points Wednesday in an effort to fight inflation. CBS News Chief White House Correspondent Nancy Cordes reports on how the Biden administration is responding to the news, then CBS News Business Analyst Jill Schlesinger breaks down the impacts of this rate hike on the job market and your finances.
Anger brews over official's call for Pakistanis to drink less tea
The government minister's suggestion on how to people might help to ease Pakistan's economic crisis didn't go down well.
White House reacts to Fed interest rate hike
After a historic move by the Federal Reserve to hike interest rates, the White House is running out of options to fight rising inflation. CBS News Chief White House Correspondent Nancy Cordes joins "CBS News Mornings" with more.
Biden calls out oil refiners over "unprecedented" profits
The White House is feeling intense pressure over soaring inflation rate. Oil prices play a big role in them.
White House removes Trump post with racist footage of Obamas hours after defending it
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
Authorities say they're "aware of a new message" in Nancy Guthrie's disappearance
Local and federal authorities said "investigators are actively inspecting the information provided in the message for its authenticity" regarding the disappearance of Nancy Guthrie.
Winter Olympics begin with spectacular opening ceremony
The 2026 Milano Cortina Winter Olympics are underway after the lighting of the Olympic cauldrons and the Parade of Nations at the opening ceremony.
Trump says he "didn't see" image depicting Obamas as apes in social media post
President Trump late Friday addressed a video posted to his social media account that included a racist depiction of Barack and Michelle Obama as apes.
Exclusive
Trump called Sen. Tim Scott after lawmaker condemned image of Obamas
President Trump called GOP Sen. Tim Scott after the South Carolina Republican publicly urged the president to remove a reposted video depicting former President Barack Obama and former first lady Michelle Obama as apes.
Exclusive
Lutnick and Epstein were in business together, Epstein files show
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Purported Nancy Guthrie ransom note demanded bitcoin. Could it be tracked?
Cryptocurrency transactions are often thought to be anonymous and untraceable. That's a misconception, experts tell CBS News.
Republicans condemn Trump's racist video portraying the Obamas as apes
The criticism continued even after the White House removed the video after the initial backlash.
Pentagon says it's cutting ties with "woke" Harvard
The Pentagon says it will cut ties with Harvard University, ending graduate-level military training, fellowship and certificate programs.
U.S.
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Pentagon says it's cutting ties with "woke" Harvard
The Pentagon says it will cut ties with Harvard University, ending graduate-level military training, fellowship and certificate programs.
Truck driver spends decades carving a scale model masterpiece of New York City
Beginning in 2004, Joe Macken carved all five boroughs of New York City out of balsa wood, every site and stadium, and every bridge and building. His creation consists of almost 1 million structures.
Heightened security from dozens of local, federal agencies ahead of Super Bowl
More than 35 local, state and federal agencies have been working for the last 18 months to prepare for Super Bowl LX in Santa Clara, California.
Exclusive
Lutnick and Epstein were in business together, Epstein files show
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Dow crosses 50K for first time as stocks enjoy best day since May 2025
Resurgent technology stocks drove the rebound after a volatile week, while bitcoin also recouped losses.
MoneyWatch
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Exclusive
Lutnick and Epstein were in business together, Epstein files show
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Dow crosses 50K for first time as stocks enjoy best day since May 2025
Resurgent technology stocks drove the rebound after a volatile week, while bitcoin also recouped losses.
Purported Nancy Guthrie ransom note demanded bitcoin. Could it be tracked?
Cryptocurrency transactions are often thought to be anonymous and untraceable. That's a misconception, experts tell CBS News.
Prediction markets soar ahead of the Super Bowl
Emboldened by loosened restrictions from federal regulators, prediction markets look to cash in on Super Bowl Sunday.
See the 43 drugs available on new discounted drug site TrumpRx
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
Politics
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Appeals court endorses Trump policy of denying bond hearings to many ICE detainees
A federal appeals court on Friday endorsed the Trump administration's policy of holding broad groups of immigration detainees without access to bond hearings, a major legal victory for President Trump.
Pentagon says it's cutting ties with "woke" Harvard
The Pentagon says it will cut ties with Harvard University, ending graduate-level military training, fellowship and certificate programs.
Trump says he "didn't see" image depicting Obamas as apes in social media post
President Trump late Friday addressed a video posted to his social media account that included a racist depiction of Barack and Michelle Obama as apes, telling reporters he didn't see the part that showed the former president and first lady.
Exclusive
Lutnick and Epstein were in business together, Epstein files show
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Prediction markets soar ahead of the Super Bowl
Emboldened by loosened restrictions from federal regulators, prediction markets look to cash in on Super Bowl Sunday.
HealthWatch
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See the 43 drugs available on new discounted drug site TrumpRx
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
White House launches TrumpRx discounted drug site
The Trump administration launched its new TrumpRx direct-to-consumer prescription drug listing site late Thursday, part of a push to offer medication at steep discounts.
Officials warn against drinking raw milk after baby dies from listeria
The New Mexico Department of Health said officials believe the baby contracted listeria after their mother drank raw milk during pregnancy.
When health insurance costs more than the mortgage
As health care costs skyrocket and federal lawmakers pull back help on ACA insurance premiums, more middle-income families are facing tough choices on health care.
5 ways to find affordable care without health insurance
Many Americans are expected to lose ACA or Medicaid coverage in the coming months and years, but doctors and researchers say there are still ways to find affordable care.
World
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Which countries and athletes have the most Olympic medals of all time?
While the U.S. is on top of the overall Olympic medal count, it is not the country that dominates winter sports like the 2026 Milano Cortina Games in Italy.
Suspect in 1994 murder of Colombian soccer star killed in Mexico
Andres Escobar was gunned down in Medellin days after scoring an own goal in a match against the U.S. at the 1994 World Cup.
Olympic skater gets last-minute approval for Minions-themed program
Spanish figure skater Tomas-Llorenc Guarino Sabate secured the rights to perform his Minions-themed program at the Milan Cortina Games hours before he was set to skate.
How the Olympics' Parade of Nations country order works
Here's what to know about the Parade of Nations in the 2026 Winter Olympics opening ceremony and how the country order is determined.
See the best Olympic opening ceremony outfits of the 2026 Winter Games
As the 2026 Milan Cortina Winter Olympics begin, all eyes were on teams from around the globe proudly donning their countries' uniforms for the opening ceremony, including Team USA in outfits designed by Ralph Lauren.
Entertainment
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Where you can watch the 2026 Winter Olympics live
Don't miss a moment of the Winter Olympics. Here's how to watch live, for free and stream the action without cable.
Bad Bunny set for historic Super Bowl performance
Coming off a historic Grammy win, Bad Bunny is gearing up to make even more history at this weekend's Super Bowl. The musician is set to be the first Super Bowl headliner to perform completely in Spanish. Leila Cobo, co-chief content officer at Billboard, joins "The Daily Report" to discuss.
Olympic skater gets last-minute approval for Minions-themed program
Spanish figure skater Tomas-Llorenc Guarino Sabate secured the rights to perform his Minions-themed program at the Milan Cortina Games hours before he was set to skate.
Ukrainian military drone simulator adapted for video gamers in world first
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
Bad Bunny hints at halftime show surprises
Bad Bunny, the Puerto Rican singer born Benito Antonio Martínez Ocasio, told fans to expect a special Super Bowl halftime show on Sunday. Nidia Cavazos reports on how the star is performing, and whether he'll have any surprise guests.
Technology
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Super Bowl fans warned to keep drones at home with flights banned over big game
The FAA says it is collaborating with the FBI to detect, track and assess unauthorized drone activity at the Super Bowl.
Ukrainian military drone simulator adapted for video gamers in world first
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
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 will AI transform the workforce?
CBS News business analyst Jill Schlesinger talks about how companies are using artificial intelligence, the discussion around the technology and how it's impacting the workforce.
Tesla, Waymo leaders defend product safety
Executives from Waymo and Tesla defended their self-driving vehicle technology in testimony before the Senate Commerce Committee on Wednesday. CBS News' Kris Van Cleave reports and Ian Krietzberg, an AI correspondent at the digital media company Puck, has more.
Science
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Scientists "quite surprised" to find one polar bear population thriving
After decades monitoring polar bears in Norway's far north, researchers say the animals have proven incredibly adaptable, but there are no guarantees for the future.
Mysterious dark matter seen in new map of distant galaxies
Dark matter doesn't absorb or give off light so scientists can't study it directly. But they can observe how its gravity warps and bends the star stuff around it.
Cow develops technique to scratch herself
"CBS Saturday Morning" learns more about Veronika, the clever cow who figured out multiple ways to scratch herself with a broom. It was the first time a cow was seen using a tool.
Almanac: January 18
"Sunday Morning" looks back at historical events on this date.
Fossils found at Dinosaur National Monument, first excavation in 100 years
The Dinosaur National Monument, which is located on the border between Colorado and Utah, was last excavated in 1924.
Crime
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Crime
Luigi Mangione has outburst after hearing
Luigi Mangione had an outburst after a hearing on Friday in which the judge announced that his New York State trial will begin on June 8. CBS News legal reporter Katrina Kaufman is following the case.
Authorities say they're "aware of a new message" in Nancy Guthrie's disappearance
Local and federal authorities said "investigators are actively inspecting the information provided in the message for its authenticity" regarding the disappearance of Nancy Guthrie.
Investigators vetting Guthrie ransom note
Friday marked six days since Nancy Guthrie's apparent abduction, and Guthrie's three children have been posting on social media hoping to reach whoever may have taken her. CBS News' Andres Gutierrez reports and former FBI counterintelligence operative Eric O'Neill has more.
Mangione claims double jeopardy
Luigi Mangione had an outburst in a New York courtroom on Friday after a judge scheduled his state trial to begin before his federal case. The UnitedHealthCare CEO murder suspect claimed "this is the same trial twice" and called it "double jeopardy." CBS News' Katrina Kaufman has more.
Suspect in 1994 murder of Colombian soccer star killed in Mexico
Andres Escobar was gunned down in Medellin days after scoring an own goal in a match against the U.S. at the 1994 World Cup.
Space
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Space
What led NASA to delay Artemis II launch
NASA's first crewed moon mission in more than 50 years has been delayed until March at the earliest. During a routine dress rehearsal of the launch, persistent liquid hydrogen leaks were discovered in the Artemis II rocket. CBS News space consultant Bill Harwood breaks it down.
NASA hopes to fix Artemis II moon rocket leak with on-pad repair
NASA plans to test the planned leak repair with a second dress rehearsal fueling test later this month.
NASA delays Artemis II launch
NASA delayed the Artemis II moon rocket launch after a hydrogen leak was found during a wet dress rehearsal, the agency announced Tuesday. CBS News senior space consultant Bill Harwood has the latest.
NASA begins mission to map the boundaries of our heliosphere
A NASA mission is underway to map the heliosphere, which is a huge protective bubble around the solar system that was created by the sun.
NASA moon launch off until March due to issues during tests
NASA says it can't try until March at the earliest to send a crewed spacecraft on a flight around the moon and back, due to hydrogen leaks during testing of the Artemis II rocket.
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
Officials review new message in Guthrie case
Officials said they are "aware of a new message" in the Nancy Guthrie disappearance on Friday. Authorities have not given details on the contents of the message. Former FBI special agent FBI Doug Kouns joins CBS News to discuss.
Man spent decades making model of New York City
Beginning in 2004, Joe Macken carved all five boroughs of New York City out of balsa wood, every site and stadium, and every bridge and building. His creation consists of almost one million structures. Steve Hartman has the story.
Officials shut down man's free bus rides
After a licensed school bus driver finished his route, he decided to help after seeing lots of other children walking to school in the cold. As Tony Dokoupil reports, the offer was short-lived.
Olympics kick off with opening ceremony in Milan
The opening ceremony marked the official start of the 2026 Winter Olympics with celebrations at Milan's San Siro Stadium and at venues in Predazzo, Livigno and Cortina d'Ampezzo. Seth Doane reports.
What to know about high-stakes Super Bowl security
With less than 48 hours until kickoff for Super Bowl LX, security preparations are already in motion. Kris Van Cleave has a preview.