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 Dow Jones closed at a record high Wednesday. It was a major milestone fueled by the Federal Reserve decision to leave interest rates unchanged for now, but rate cuts could come in the new year. CBS New York's Dick Brennan has more on the fed announcement. Read more: https://cbsloc.al/48cKhnO
The collapse of Silicon Valley Bank is triggering new worries about worldwide financial trouble. Overseas, Credit Suisse's troubles rattled financial markets. CBS2's Dick Brennan reports.
Markets tried to shake off Monday's massive losses. On Tuesday, the S&P 500 fell yet again.
Many Americans are worrying about their retirement funds as stocks dropped drastically yesterday. CBS2's Elijah Westbrook has more on what this means.
Does the huge drop in the Dow Jones and other indices mark the end of a historic run that dates back to the pandemic's early days?
U.S. stocks lost ground for a second day following Wednesday's sharp decline, as concerns over rising interest rates and a trade war outstripped relief from weaker-than-expected inflation data.
The Dow was down just over 30 points, the S&P lost 31, and the NASDAQ shed 64 points.
History was made again on Wall Street Wednesday as the Dow Jones Industrial Average closed above 26,000 for the first time ever.
The Dow Jones industrial average broke through 20,000 points right at the opening bell. The index crossed the line, following record highs on Tuesday.
The Dow was down 2.39 percent upon closing Friday afternoon, ending the worst two-week start to a year in history for U.S. stocks.
U.S. stocks are opening 2016 on a grim note, dropping sharply after a plunge in China and declines in Europe.
Stocks surged Tuesday morning on Wall Street, erasing some of the heavy losses of a day earlier, after China cut interest rates to try to boost the world's second-largest economy.
Stocks were deep in the red again on Wednesday, although they did rebound from a mid day swoon. At the closing bell the Dow was down 173 points at 16,141. Earlier in the day it had dipped below 16,000 for the first time since February.
The red flags were everywhere, among them weak corporate results, the looming end of stimulus from the Federal Reserve and tensions between the West and Russia.
There was a major milestone on Wall Street Thursday as stocks set new records.
Stocks have been rising sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.
The Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor's 500 index, a broader market measure, rose above 1,600.
The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and the Great Recession.
A late afternoon rally pushed the stock market higher for only the second day this month.
The Dow Jones industrial average fell 170.89 points, or 1.5 percent, to close at 11,149.82. It had been up 85 points shortly after the opening bell.
The Dow Jones industrial average at one point was down more than 500 points. It's now down 436 at 10,973.
Investors hoping for relief from last week's volatility in the stock market found it Monday.
Even a survey showing Americans are dismayed about the economy didn't stop the gains on Wall Street today.
It's understandable if people are getting dizzy watching the Dow, considering Wednesday's shocking 519 point plunge. That was just the latest go round on the Dow's recent wild ride as the index closed up 423 points on Thursday.
One year ago, a deadly New York City parking garage collapse sparked calls for increased oversight, but CBS New York has found inspections are past due for hundreds of garages across the city.
A bill in the state budget will give New York City the authority to lower the speed limit from 25 mph to 20 mph.
Israel launched at least one missile strike at Iran early Friday morning, U.S. officials confirmed to CBS News, in apparent retaliation for last weekend's drone and missile attack.
Find that special someone by signing up for one of the undeniably best dating apps in 2024.
One public library in New Jersey is offering free gently used wedding dresses for brides-to-be. The selection is getting bigger by the day, thanks to donations coming in.
One year ago, a deadly New York City parking garage collapse sparked calls for increased oversight, but CBS New York has found inspections are past due for hundreds of garages across the city.
A bill in the state budget will give New York City the authority to lower the speed limit from 25 mph to 20 mph.
A young Long Island boy is the first in New York state to undergo a new gene therapy for a rare blood disease.
Illegal pot shops are popping up near New York City schools and daycares and there needs to be a crackdown, community group Silent Voices United says.
Montefiore in the Bronx screened 200,000 people for social detriments of health, and found at least 20% have at least one social need.
Some lingering rain and light drizzle remains Thursday, and temperatures will be about 10 degrees cooler, feeling like the 40s.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
We're in for another sunny and pleasantly warm afternoon, but not as warm as yesterday. Highs will be in the low 70s.
Today will be sunny with highs in the mid to upper 70s, possibly even 80 inland. Late showers are possible south of the city.
Damaging wind gusts are the main threat, but we can't rule out small hail or an isolated tornado northwest of NYC.
One public library in New Jersey is offering free gently used wedding dresses for brides-to-be. The selection is getting bigger by the day, thanks to donations coming in.
The conservative Christian group has controlled Ocean Grove's beaches for more than 150 years.
Some lingering rain and light drizzle remains Thursday, and temperatures will be about 10 degrees cooler, feeling like the 40s.
A New Jersey father accused of killing his 9-year-old son back on March 28 has died from injuries he suffered that same day, officials said.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
A young Long Island boy is the first in New York state to undergo a new gene therapy for a rare blood disease.
Over 250 pizzerias across Long Island are raising money Wednesday for three police charities and the family of fallen NYPD Det. Jonathan Diller.
Suspected Gilgo Beach serial killer Rex Heuermann is appeared in court in Suffolk County, Long Island.
More 55-gallon drums containing waste petroleum and chlorinated solvents have been found buried in Bethpage Community Park.
Lindy Jones pleads not guilty in last month's deadly shooting of NYPD Det. Jonathan Diller in Far Rockaway, Queens.
Israel launched at least one missile strike at Iran early Friday morning, U.S. officials confirmed to CBS News, in apparent retaliation for last weekend's drone and missile attack.
Rep. Ilhan Omar's daughter says she was one of three students suspended from Barnard College following a pro-Palestinian protest at Columbia University on Thursday.
Police arrested more than 100 people at Columbia University on Thursday at a makeshift encampment set up by pro-Palestinian protesters on the university's main lawn.
Twelve people have been selected to serve as jurors in former President Donald Trump's criminal trial in New York, filling out the panel on the third day of proceedings.
CBS New York did some digging and found out just how much the MTA has budgeted for congestion pricing pollution mitigation.
Montefiore in the Bronx screened 200,000 people for social detriments of health, and found at least 20% have at least one social need.
19 people have been stricken — including nine who have been hospitalized — after getting fake or mishandled injections in homes and spas, feds warn.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
Younger adults are aging faster, increasing their risk for early onset cancers. So which anti-aging techniques actually work?
Most worrisome gaps involve cancer chemotherapy drugs, ER medications and and therapies for ADHD.
In the 1,000th episode, titled "A Thousand Yards," NCIS comes under attack by a mysterious enemy from the past.
A Billy Joel special on CBS and Paramount+ will air again after it was cut off in the middle of the singer's performance of "Piano Man."
The coming-of-age story is a favorite for generations of middle and high school students, and they're returning to it on Broadway.
CBS New York's Steve Overmyer met Ed Alstrom, the organ player who has been hyping up Yankees fans in the Bronx for over 20 seasons.
Eleanor documented much of the chaos on "Apocalypse Now" in what would become one of the most famous making-of films about moviemaking, 1991's "Hearts of Darkness: A Filmmaker's Apocalypse."
Simon Holmstrom scored the go-ahead goal in the third period, Ilya Sorokin stopped Sidney Crosby on a late penalty shot and the playoff-bound New York Islanders edged the Pittsburgh Penguins 5-4.
Aaron Judge broke a 4-all tie with a two-run single in the ninth inning, Juan Soto and Giancarlo Stanton hit solo home runs and the New York Yankees rallied to beat the Toronto Blue Jays 6-4 to avoid their first sweep of the season.
Starling Marte hit his 150th career homer, powering the New York Mets to a 9-1 win over the Pittsburgh Pirates and a sweep of a three-game series.
The No. 1 pick in this year's WNBA draft is "going to raise all boats" for players in the league, one expert said.
Vladimir Guerrero Jr. reached base four times and had two RBIs, Yusei Kikuchi pitched six sharp innings to win for the first time this season and the Toronto Blue Jays beat the Yankees 5-4, handing New York its third consecutive loss.
Residents in Southern Brooklyn are concerned over MTA's proposed changes as part of the Brooklyn Bus Network Redesign.
Buzunesh Deba, who lives in the Bronx, became the default winner of the 2014 Boston Marathon in 2016 when the first-place winner was disqualified for doping, but she says she has not yet received her prize money.
While many are excited about the idea of a state-of-the art skate park in Brooklyn, one of the largest on the East Coast, others oppose the location chosen.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
President Joe Biden dropped in virtually to speak at the National Action Network convention Friday, breaking down his efforts to reduce the burden on Black people and boost opportunities for their success.
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.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
New York state lawmakers are set to pass "Sammy's Law," allowing New York City to lower the speed limit to 20 mph. The bill is named after a Brooklyn boy who was killed by a speeding driver more than 10 years ago. CBS New York's Lori Bordonaro reports.
Demonstrators were still outside Columbia University late Thursday night, hours after more than 100 people were taken into custody. CBS New York's Ali Bauman reports.
The new Broadway musical "Suffs" officially opened Thursday with support from two women who made a mark on the world -- Hillary Clinton and Malala Yousafzai. CBS New York's Lisa Rozner reports.
Police have arrested more than 100 people who had been camping out at a tent city on Columbia University's campus, calling for an end to the war in Gaza. CBS New York's Ali Bauman was there as police made arrests and spoke to demonstrators.
A special ceremony was held Thursday at the site of a synagogue that burned to the ground in Pomona, Rockland County. Members of the Orthodox Jewish community gathered as a eulogy was read for three Torahs destroyed in the fire at Chassidim of the Heights. A burial for the Torahs will be held in May.