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.
Which book should we read next: "Becoming Madam Secretary" by Stephanie Dray, "Finding Margaret Fuller" by Allison Pataki, or "Sylvia's Second Act" by Hillary Yablon.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Overnight, a 19-year-old was taken into custody for questioning as a possible second shooter in the case.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Overnight, a 19-year-old was taken into custody for questioning as a possible second shooter in the case.
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
We'll see isolated showers on and off today, while temperatures stay mild with highs in the 60s.
Today will be mostly sunny and warmer than yesterday, with highs around 70 for an early taste of May.
It comes just after a $54 million increase in state aid.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Officials said the roof collapsed on top of the firefighters working inside the structure on Grand Street.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Authorities say Amanda Wallace was caught stealing beauty products from a CVS in Lindenhurst.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
A former police colleague said Adams demanded oral sex in exchange for his help with an employment issue in 1993.
Former President Donald Trump has until March 25 to obtain a bond to secure $464 million judgment against him as he appeals his New York civil fraud case.
Child care advocates are asking the mayor to reverse the $400 million in funding cuts to the city's universal pre-k and 3-k.
Dr. Nidhi Kumar is On Call for CBS New York to break down the most common sleep disorders.
Payments and procedure authorizations are at a standstill and it's having a real impact on lives.
The 910-page report on the COVID pandemic faults planning, communication and decision making in Trenton and Washington, D.C.
It was a day of confusion after almost a dozen ambulette companies stopped transporting Medicaid patients in a bitter dispute over reimbursement rates.
With expanded screening, treatment and vaccination, experts believe cervical cancer can be completely eliminated.
He'll play more than a dozen concert dates in the newly refurbished theater.
A second man is charged in connection with the 2005 theft of ruby slippers worn by Dorothy in "The Wizard of Oz".
Celine Dion said in her post that March 15 was International Stiff-Person Syndrome Awareness Day.
Climate protesters used a pivotal townhall meeting scene to inject some action of their own on Broadway.
Actor Olivia Munn said on social media she's had four surgeries in the last 10 months, including a double mastectomy, since being diagnosed with breast cancer.
Players in Long Island's first flat track roller derby league are preparing for the upcoming season, but it could be in jeopardy because of Nassau County's ban on transgender athletes.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Minute Media, an Israeli digital media company, secures rights to publish Sports Illustrated and will continue to put out a print edition.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
Fire marshals said the five-alarm blaze in Sunnyside was set accidentally by a contractor. Tenants in more than 100 units were displaced.
The 12th annual Brain Fair brought out hundreds of kids to get hand-on experience learning about the most complex organ.
After their landlord wanted to double the price of their rent, tenants at 700 East 134th St., fought back and purchased the building.
Alex and Bessie Kuravsky put their bouncing baby boy to sleep and woke up to an unthinkable tragedy in their Brooklyn apartment.
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.
The Grammy Award winning singer who graced the stage for generations died at the age of 96.
Police say the 19-year-old was found with multiple gunshot wounds early Tuesday morning in Brooklyn.
Determined women take center stage in this next round of books to choose from.
CBS New York's Chris Wragge will be live at the Long Island high school this Friday morning.
CBS New York's First Alert Weather team has the latest weather forecast.
Officers shot and killed a 20-year-old man last night who they say was firing at people in the neighborhood. CBS New York's Elijah Westbrook reports from East Flatbush.