U.S. stocks end lower for 3rd straight week, despite jobs numbers
An early morning rally fueled by slower jobs report, faded by mid-afternoon, erasing all gains.
Economy
U.S. added fewer jobs in August than in July
The latest report from the U.S. Labor Department shows hiring slowed in August, with employers adding 315,000 new jobs. The unemployment rate ticked up to 3.7%. CBS News' Debra Alfarone spoke with Javier David, the managing editor of business and markets at Axios, about what this means for the economy.
Carbon pollution is far too cheap in the U.S., study finds
Considering the damage it causes, carbon should cost $185 a ton, more than triple U.S. price, researchers conclude.
8/25: Face The Nation
This week on "Face the Nation," Margaret Brennan talks National Economic Council Director Larry Kudlow, Senate Judiciary Committee Chairman Lindsey Graham, 2020 Democratic presidential candidate Senator Amy Klobuchar and Josh Bolten, president and CEO of the Business Roundtable. Plus, a new CBS News Poll reveals how Americans feel about the economy.
Consumer confidence climbs
Confidence among U.S. consumers climbed in August. Steve Odland, the CEO and president of The Conference Board, joins CBS News to discuss why, if we can expect this trend to continue and ongoing recession concerns.
States tap surpluses for tax cuts, rebates to offset inflation
Republicans and Democrats alike have joined the tax-cutting trend during a midterm election year.
U.S. stocks slump as investors continue to fret over Fed plans
Markets have been roiled since Fed chair's speech Friday reaffirming central bank's aggressive plans to cool inflation.
Biden heading out on the campaign trail
President Biden is heading out on the campaign trail to battleground states hoping to invigorate Democratic voters in key midterm elections. Over the next two weeks, the president will visit voters in Pennsylvania, Ohio and Wisconsin, touting recent economic wins and pushing for abortion rights. Ed O'Keefe reports from Washington.
Job openings rose in July after 3 months of declines
Rate of workers quitting fell, and layoffs stayed near record low — showing employers are urgently seeking workers.
Stocks close lower, adding to Friday's steep losses
Markets lost more ground after Powell's speech last week confirming more hikes: "We must keep at it until the job is done."
Harrison says Democrats have "momentum" in 2022
DNC chair Jaime Harrison said on "Face the Nation" that Democrats have the "momentum" heading into the 2022 midterm elections, saying abortion will be more important to voters than the economy.
Fed chair’s remarks trigger market sell-off
Federal Reserve Chair Jerome Powell’s remarks on inflation triggered a massive sell-off on Wall Street. Melissa Armo, owner and founder of The Stock Swoosh, breaks down why investors aren’t thrilled with the Fed chair’s comments on a possible interest rate hike.
Powell warns fighting inflation could bring “pain”
Federal Reserve Chair Jerome Powell signaled the Fed will likely continue raising interest rates to combat inflation. Yahoo Finance columnist Rick Newman reacts to Powell’s comments and explains how investors will likely react.
Inflation cools as U.S. consumer prices rose 6.3% in July
Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.
Powell says Fed could keep lifting rates "for some time"
While higher borrowing costs will hurt, failure to ease inflation "would mean far greater pain," Federal Reserve chief says.
The rise of side hustles amid inflation
CBS News' Anne-Marie Green and Errol Barnett talk with Alejandro Chavarria, Erin Welsh and Pamela Ortiz, who are each pursuing side hustles, as part of CBS News' Uncertain Economy series. More and more Americans are taking on extra work as they struggle to make ends meet amid rising gas and grocery prices due to inflation.
Analyst explains decline in housing sales
Home prices fell for the first time in 3 years last month, marking the sharpest decline since 2011. Real estate analyst Erin Sykes joins "CBS News Mornings" to discuss the latest.
U.S. unemployment claims fall as GDP shrinks
The number of Americans filing for first-time unemployment benefits dropped last week. Meanwhile the Department of Commerce released updated gross domestic product figures for the second quarter of 2022. Yahoo Finance senior columnist Rick Newman joins CBS News to discuss these and the mortgage market.
Latest GDP figure eases concern about imminent U.S. recession
New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.
Biden says student loan forgiveness will help economy
President Biden announced his plan to forgive up to $20,000 in student loan debt for millions of Americans. But, some lawmakers and economic experts have raised concerns over its potential impact on inflation and the cost of college tuition. CBS News correspondent Christina Ruffini joined CBS News' Caitlin Huey-Burns on "Red and Blue."
How the student loan relief plan will work
President Biden unveiled his plan to cancel billions of dollars in student loan debt. It will impact millions of borrowers earning less than $125,000 a year. Roy Paul, executive director of Cents Ability, joins CBS News to discuss how the plan will work and its economic impact.
Economic impact of cancelling student debt
President Biden unveiled his plan to cancel billions of dollars in student loan debt, saying it will benefit 43 million Americans earning less than $125,000 a year. Pell Grant recipients will receive up to $20,000 in relief, while other borrowers can get up to $10,000 in debt cancellation. The pause on federal loan payments will also be extended until the end of the year. Roy Paul, executive director of Cents Ability, joins CBS News to discuss the economic impact of this plan.
Protests challenging Haiti's prime minister
Thousands of protesters took the streets of Haiti's capital calling for the resignation of Prime Minister Ariel Henry. It comes as the country deals with a surge in crime and rising inflation. The Haitian Times' Macollvie Neel joined CBS News with a look at the current economic situation there.
Americans worry a recession is coming
About 69% of Americans are worried the U.S. will be in a recession by the end of next year, a survey conducted by Bankrate found. About 41% of people say if a recession happens, they are not prepared. Mark Hamrick, senior economic analyst at Bankrate, joins CBS News to discuss how people should be preparing for a possible recession.
"Quiet quitting": A work revolution or the end of working hard?
A growing number of Americans say they're done going the extra mile for their employers. Some experts call that progress.
Charlie Kirk shooting suspect charged with aggravated murder, could face death penalty
Tyler Robinson, the man accused of assassinating conservative activist Charlie Kirk in Utah, was charged with aggravated murder.
Spirit Airlines flight warned to move farther from Air Force One over Long Island
Air traffic controllers urgently and repeatedly ordered the pilots of a Spirit Airlines flight to turn away from Air Force One over Long Island, New York as Air Force One took President Trump and others to a state visit to the U.K.
Search underway for man accused of "act of terror" at FBI Pittsburgh field office
The FBI is searching for Donald Henson, of Penn Hills, who is accused of ramming his car into the Pittsburgh field office entrance gate.
Trump unlikely to escape Epstein scandal during historic state visit to U.K.
The ongoing fallout over Epstein is likely to follow Trump on his formal state visit to the U.K., which just lost its ambassador in D.C. to the scandal.
Ousted CDC director to warn of "real risk" for vaccines for children if panel meets
Susan Monarez will testify before a Senate panel Wednesday about why she believes she was fired.
Cargo ship runs into engine trouble on way to space station
Two planned engine firings shut down prematurely, NASA said, putting the Cygnus cargo ship's approach to the space station on hold.
FBI's Patel faces questions on Kirk probe, Epstein files at Senate hearing
FBI Director Kash Patel testified for more than four and a half hours before the Senate Judiciary Committee, where he fielded questions over his leadership of the bureau.
Charlie Kirk suspect confessed to the killing in text to his roommate, prosecutor says
Court documents show the suspect's roommate found a note in their apartment that read, "I had the opportunity to take out Charlie Kirk and I'm going to take it."
Luigi Mangione's state terrorism charges dismissed, judge rules
Luigi Mangione, accused of shooting UnitedHealthcare CEO Brian Thompson, appeared in court where his state terrorism charges were thrown out.