Dow hits record high as investors cheer Fed outlook on interest rates
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
The Labor Department says the rate of inflation — which measures how much prices are rising — fell to 3.2% in October. Frances Stacey, director of strategy at Optimal Capital, joins CBS News to discuss what this means for your wallet and the country's financial outlook.
The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Officials want more data to be confident that inflation is abating, according to the minutes of their July 25-26 meeting.
The nation's GDP grew at an annual rate of 2.4% from April to June 2023 -- a faster rate than many economists predicted. Lori Bettinger, president of Bancalliance, joined CBS News to discuss what the new figure means for the state of the economy.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Inflation cooled in June to 3%, the lowest in more than two years, according to the U.S. Labor Department's Consumer Price Index. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what this means for consumers and whether the Federal Reserve will continue to raise rates.
Unemployment numbers arrived Thursday morning with new claims decreasing over the past week. CBS News' Sarah Ewall-Wice has more on that and comments about inflation from Fed Chair Jerome Powell.
Federal Reserve Chairman Jerome Powell told lawmakers on Capitol Hill on Wednesday the country remains a "long way away" from reaching its goal in the fight against inflation. CBS News political and economics reporter Sarah Ewall-Wice has more.
For the first time since March 2022, the Federal Reserve will not be raising interest rates. J.D. Durkin, on-air host for digital financial news platform TheStreet, joins CBS News to discuss the Fed's path forward.
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Stocks closed relatively flat as investors reacted to new consumer debt and mortgage data. Sanders Morris Harris chairman George Ball spoke with CBS News about what the numbers mean for investors and the economy.
The Dow Jones ended the day in the red Thursday, as investors react to new consumer price index and producer price index data. Opus: Advice First CEO Nancy Daoud spoke with Lana Zak and Errol Barnett about what the new numbers mean for the economy.
Stocks closed flat Tuesday as investors await an agreement on the federal debt ceiling and new economic data on inflation. AlphasFuture founder and investment manager Geetu Sharma joined CBS News to discuss what the new information will mean for investors.
Federal Reserve Chair Jerome Powell began a press conference Wednesday saying "the U.S. banking system is sound and resilient." Yet several regional bank shares were on the decline Thursday. Wall Street Journal banking reporter Gina Heeb breaks down the possible implications for the economy.
The Dow Jones fell more than 200 points Thursday as regional bank stocks plummeted. Wall Street Journal banking and finance reporter Ben Eisen spoke with CBS News' Lana Zak and Errol Barnett about what the development means for investors.
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Stocks fell Wednesday after the Federal Reserve raised U.S. interest rates by a quarter of a percentage point. Wall Street Journal economics reporter Harriet Torry spoke with CBS News about how the increase impacts investors and consumers.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
A decision is expected Wednesday from the Federal Reserve on whether to raise interest rates again. CBS News reporter Sarah Ewall-Wice joined CBS News' Anne-Marie Green to discuss what to expect from the Fed and what Democratic lawmakers could do in regard to interest rates.
The Federal Reserve is expected to hike interest rates again in an attempt to lower high inflation rates. Jeanna Smialek, Federal Reserve and economy reporter at The New York Times, joins "CBS News Mornings" to explain the impact of the previous rate hikes and why they've continued.
Firearms sold by law enforcement have turned up at crime scenes thousands of times in recent years, a CBS News Investigation found.
Michael Cohen, the key witness in the case against former President Donald Trump, faced questions from defense attorneys taking aim at his credibility.
The Houston Mayor's Office confirmed to CBS News that there were at least four weather-related deaths from the storms.
The Justice Department said Thursday morning that the president was asserting executive privilege over the recordings with special counsel Robert Hur.
The governors of Pennsylvania, Oklahoma and Virginia wrote a letter Tuesday asking the territory to show mercy to the Americans arrested on the island.
Migrant adults released by federal border officials after crossing into the U.S. unlawfully will be eligible to be placed in the program.
The district at the center of the landmark 1954 Brown v. Board of Education ruling, which outlawed racial segregation in schools, is now helmed by its first Black female superintendent.
For weeks, some students and faculty have challenged leaders of the historically Black college to rescind Mr. Biden's invitation over his administration's response to the Israel-Hamas war.
Texas Gov. Greg Abbott issued his pardon after the unanimous recommendation by the state's Board of Pardons and Paroles.
The Houston Mayor's Office confirmed to CBS News that there were at least four weather-related deaths from the storms.
Migrant adults released by federal border officials after crossing into the U.S. unlawfully will be eligible to be placed in the program.
For weeks, some students and faculty have challenged leaders of the historically Black college to rescind Mr. Biden's invitation over his administration's response to the Israel-Hamas war.
Michael Cohen, the key witness in the case against former President Donald Trump, faced questions from defense attorneys taking aim at his credibility.
The settlement covers U.S. residents who owned an iPhone 7 or 7 Plus between September 16, 2016, and January 3, 2023, and reported a covered issue to Apple or paid the company for repairs.
The settlement covers U.S. residents who owned an iPhone 7 or 7 Plus between September 16, 2016, and January 3, 2023, and reported a covered issue to Apple or paid the company for repairs.
The manufacturer has received multiple reports of fires and injuries since the ranges were originally recalled more than a decade ago.
Prosecutors said some of the affected companies were Fortune 500 corporations, including a major TV network, a defense company, and a car maker.
Robust corporate profits and steady U.S. economic growth are driving stocks to record highs.
Private-label food supplier recalls 32-ounce pouches of Great Value Organic Black Chia Seeds because of potential contamination.
Migrant adults released by federal border officials after crossing into the U.S. unlawfully will be eligible to be placed in the program.
For weeks, some students and faculty have challenged leaders of the historically Black college to rescind Mr. Biden's invitation over his administration's response to the Israel-Hamas war.
Michael Cohen, the key witness in the case against former President Donald Trump, faced questions from defense attorneys taking aim at his credibility.
President Biden marked the 70th anniversary of the Supreme Court decision.
The governors of Pennsylvania, Oklahoma and Virginia wrote a letter Tuesday asking the territory to show mercy to the Americans arrested on the island.
Private-label food supplier recalls 32-ounce pouches of Great Value Organic Black Chia Seeds because of potential contamination.
A new study finds hospitals with a higher share of women surgeons and and anesthetists shave better patient outcomes.
Experts call for better drug testing procedures as more states legalize marijuana and societal norms change.
Opioid overdose deaths decreased, but there was an increase in overdose deaths from psychostimulants like meth and cocaine.
Nurse practitioners have been viewed as a key to addressing the shortage of primary care physicians. But data suggests that, just like doctors, they are increasingly drawn to better-paying specialties.
Trucks carrying badly needed aid for the Gaza Strip have started rolling across a newly-built U.S. floating pier into the besieged enclave for the first time.
The governors of Pennsylvania, Oklahoma and Virginia wrote a letter Tuesday asking the territory to show mercy to the Americans arrested on the island.
As the Israeli defense chief says his troops shouldn't take over Gaza after the war, mistaken tank fire kills 5 of the IDF's own.
Spanish police said they dismantled a major methamphetamine distribution network of the Mexican Sinaloa cartel after seizing 1.8 tons of the drug.
The trees have been called both "grotesque" and "one of the most charismatic species on our planet" – and now we know where they came from.
Celebrated makeup artist Daniel Martin is known for his work with Hollywood stars like Michelle Yeoh, Nina Dobrev, Jessica Alba and Meghan Markle.
Preview: The Emmy Award-winning news program's annual "By Design" edition on May 19 features Courteney Cox, a $3 million sports car, a bold new plan by tech billionaires, Martha Stewart and more.
Angie Harmon said she heard a gunshot and rushed outside, where she found her dog had been shot, and saw the delivery person putting a gun into the front of his pants, according to the lawsuit.
Whoopi Goldberg described the book as a way to dispel speculations about her upbringing and to share her story on her own terms.
Brittney and Cherelle Griner shared videos from their baby shower exclusively with "CBS Mornings."
The settlement covers U.S. residents who owned an iPhone 7 or 7 Plus between September 16, 2016, and January 3, 2023, and reported a covered issue to Apple or paid the company for repairs.
Ransomware attack targeted a Nissan virtual private network, the automaker's U.S. subsidiary said.
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.
The Innovation & Disruption Leaders documentary series transforms corporate buzzwords like 'tech' and 'AI' into accessible concepts. Through the power of visual storytelling, we delve into the minds of industry leaders, executives and entrepreneurs alike. Who will decide the destiny of tomorrow's business landscape? By putting business in front of the camera, these incredible films get us one step closer to the answer.
The 12-second execution of the alleged theft took months to plan, federal prosecutors said.
A new study suggests that the first warm-blooded dinosaurs may have roamed Earth about 180 million years ago.
Extreme heat is known as a "silent killer," and in some areas across Asia, its intensity would have been impossible without one critical factor, a new study found.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
Scientists who study such things have found that cicadas urinate in a jet stream because they consume an incredible volume of fluid during their brief time above ground.
Solar storms can dazzle, bringing displays of the northern lights to large parts of the globe. But geomagnetic storms can also affect electronic systems.
Every year, police departments across the U.S. trade in their used firearms when it's time for an upgrade. But a CBS News investigation found thousands of those former police weapons wind up in the hands of criminals. National investigative correspondent Stephen Stock reports.
A joint investigation conducted by CBS News and the nonprofit newsrooms The Trace and Reveal from the Center for Investigative Reporting found that more than 140 law enforcement agencies nationwide sell or trade-in their used weapons when they update their arsenals. Thousands of those former cop guns are later tied to a crime. Stephen Stock reports.
Texas Gov. Greg Abbott issued his pardon after the unanimous recommendation by the state's Board of Pardons and Paroles.
The governors of Pennsylvania, Oklahoma and Virginia wrote a letter Tuesday asking the territory to show mercy to the Americans arrested on the island.
Prosecutors said some of the affected companies were Fortune 500 corporations, including a major TV network, a defense company, and a car maker.
The large explosion of energy and light from the sun comes just days after Earth was slammed with the biggest geomagnetic storm in more than 20 years.
WASP-193b is 50% larger than Jupiter — the largest planet in our solar system — but seven times less massive because of it's extraordinarily low density.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
The oxygen valve that derailed a launch try last week has been replaced, but engineers want more time to verify an unrelated helium leak has been fixed.
The forecasted conditions come after a weekend of jaw-dropping northern lights seen as far south as Florida and as "magnetically complex" sunspots bigger than Earth continue to emit solar flares.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
Every year, police departments across the U.S. trade in their used firearms when it's time for an upgrade. But a CBS News investigation found thousands of those former police weapons wind up in the hands of criminals. National investigative correspondent Stephen Stock reports.
The Supreme Court rejected an effort Thursday to undermine the power of the Consumer Financial Protection Bureau. The agency was created after the 2008 financial crisis to protect consumers from unfair practices. CBS News legal contributor Jessica Levinson joins to unpack the case.
The Dow Jones Industrial Average hit 40,000 points for the first time Thursday. Well-known brands like Goldman Sachs, Microsoft and United Health fueled the latest milestone. CBS News contributor J.D. Durkin joins to discuss what the record mark suggests about the economy.
After years of coaching patients on how to navigate cancer treatment, nurse Leah Wilson of Charlotte, North Carolina, was suddenly facing her own battle after being diagnosed with non-Hodgkin's lymphoma at age 35. But she kept working, supporting her fellow cancer patients on their journeys while navigating her own.
Michael Cohen, the ex-attorney of former President Donald Trump, was back on the stand for cross-examination Thursday with Trump's defense team sharply questioning his credibility. CBS News campaign reporter and attorney Katrina Kaufman has the details.