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.
At just 15, Vedant Vohra built an app that links New Yorkers in need to nearby resources.
The deadly shooting of a mentally distressed Queens man who called 911 for help is putting a renewed focus on mental health emergencies.
Discover ways to spruce up your patio to easily enhance your outdoor living space.
Ground officially broke Thursday on the expansion of the Nuyorican Poets Cafe in the East Village.
From abortion restrictions to IVF bans, reproductive rights for women in the U.S. have never been more uncertain.
At just 15, Vedant Vohra built an app that links New Yorkers in need to nearby resources.
The deadly shooting of a mentally distressed Queens man who called 911 for help is putting a renewed focus on mental health emergencies.
Ground officially broke Thursday on the expansion of the Nuyorican Poets Cafe in the East Village.
From abortion restrictions to IVF bans, reproductive rights for women in the U.S. have never been more uncertain.
Citizens with gun licenses can apply to become provisional special deputies.
Today will be mild with highs around 50, but we're tracking steady rain for both the morning and evening commutes.
Rain will pretty much be ongoing for all of the day on Thursday and may be moderate to heavy at times.
She's blazed a trail that few in this business will ever match, with grace and diligence, attention to detail, and an unwavering dedication to the power and absolute necessity of solid journalism.
We expect to see scattered showers this afternoon, before steadier rain moves in overnight into Thursday.
Today looks cloudy with a little drizzle in areas east of the city. Highs will be around 50 degrees.
Today will be mild with highs around 50, but we're tracking steady rain for both the morning and evening commutes.
Rain will pretty much be ongoing for all of the day on Thursday and may be moderate to heavy at times.
She's blazed a trail that few in this business will ever match, with grace and diligence, attention to detail, and an unwavering dedication to the power and absolute necessity of solid journalism.
The winning $1.13 billion ticket was sold at a ShopRite down the Jersey Shore. Lottery officials are now waiting for the lucky winner to come forward, as customers congratulate whoever it was.
We expect to see scattered showers this afternoon, before steadier rain moves in overnight into Thursday.
Citizens with gun licenses can apply to become provisional special deputies.
Another organization also pledged $10,000 toward his 1-year-old son's education ahead of today's wake in Massapequa Park.
Police charged 34-year-old Guy Rivera, of Queens, hours before Diller's wake Thursday in Massapequa Park, Long Island.
A burial mix-up at Beth Moses Cemetery on Long Island has been corrected.
She's blazed a trail that few in this business will ever match, with grace and diligence, attention to detail, and an unwavering dedication to the power and absolute necessity of solid journalism.
Thursday's event with former Presidents Obama and Clinton will set a new fundraising record for the president's reelection campaign.
A bipartisan package of bills to crack down on squatters was unveiled in Albany on Wednesday.
The longtime Connecticut senator died from complications from a fall, his family said.
Starting as early as June, most drivers will be charged to enter Manhattan's Central Business District below 60th Street.
A judge imposed a gag order restricting what former President Donald Trump can say about those involved in his upcoming criminal trial in New York.
From abortion restrictions to IVF bans, reproductive rights for women in the U.S. have never been more uncertain.
March is Colorectal Cancer Awareness Month, a time to bring greater awareness to a disease that every year kills thousands of patients under 50.
The push is to ban 24-hour work shifts through a bill in the City Council introduced by Councilman Christopher Marte.
The CDC says roughly 25% of Americans suffer from season allergies, and studies suggest pollen season is getting longer and more intense.
The case was detected in an unvaccinated child, the Nassau County Department of Health said.
Ariana DeBose will host the 2024 Tony Awards. This will mark her third straight year as host.
She's blazed a trail that few in this business will ever match, with grace and diligence, attention to detail, and an unwavering dedication to the power and absolute necessity of solid journalism.
Huge crowds flocked to Times Square on Tuesday for a last-minute Shakira concert.
Combs' homes in Los Angeles and Miami were raided by federal law enforcement officers, U.S. officials confirmed Monday.
This is Diaz's second child with husband Benji Madden.
The New York City Department of Sanitation took a shot at the Houston Astros before the team's season opener against the Yankees.
Sluggers Francisco Lindor and Pete Alonso anchor the Mets lineup and All-Star closer Edwin Diaz is back in the bullpen.
The Yankees added All-Star outfielder Juan Soto in a blockbuster trade, but reigning AL Cy Young Award winner Gerrit Cole will miss time due to an elbow injury.
New York never trailed in a 145-101 win over the slumping Toronto Raptors on Wednesday night, the Knicks' biggest margin of victory this season.
The Brooklyn Nets held off Washington 122-119 on Wednesday night, snapping the Wizards' modest three-game winning streak.
At just 15, Vedant Vohra built an app that links New Yorkers in need to nearby resources.
Officials at Friday's fire in Kensington, Brooklyn say solar panels on a house roof posed a challenge for the FDNY.
A troubled housing development in East Flatbush is hoping to make a fresh start after an agreement reached with the city to keep units rent stabilized.
A concentration of endangered languages is found in Queens, making the borough an important area for research.
The Gold Women's Business Connect event encouraged networking and support.
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.
At just 15 years old, Vedant Vohra built an app that links New Yorkers in need to nearby resources. CBS New York's Zinnia Maldonado reports.
Tony Sadiku has the Tri-State Area's latest First Alert forecast on CBS2 News at 5.
Starting Thursday, a New York institution in the arts will grow even more. Ground officially broke on the expansion of the Nuyorican Poets Cafe in the East Village. CBS New York's Kristie Keleshian reports.
The deadly shooting of a mentally distressed Queens man who called 911 for help is putting a renewed focus on mental health emergencies. CBS New York's Tim McNicholas reports.
Money has been poured into the problem of street safety, with the United States Department of Transportation spending more than $2 billion in the last couple years on traffic projects. Yet in nearly every major American city, traffic deaths are up. CBS News investigative correspondent Stephen Stock discovered those tax dollars are paying for more talk than action.