Stocks dip at start of August as investors remain "cautious"
"Investors are still assessing where we break from here – further to the upside or reverse course," said one strategist.
Gas Prices
Oil companies see record profits
Oil companies are posting record-high profits for the second quarter. This comes as consumers struggle with the rising cost of living, including high gas prices. Andrew Lipow, president of Lipow Oil Associates, joins "CBS News Mornings" to discuss.
S&P 500 posts best month since November 2020
Investors have been cheered by better-than-expected corporate earnings, offsetting recession fears.
Oil drillers reap unprecedented profits as Americans struggle
Soaring energy prices baked into delivery costs are driving up the cost of everything from apples to toilet paper.
Key inflation gauge jumped 6.8% in June as prices surged
"Consumer sentiment sure stinks but Americans nevertheless continue to increase their spending," said one economist.
U.S. economy shrank in second quarter
Aditya Bhave, senior U.S. and global economist at Bank of America, joined CBS News' Jericka Duncan and Vladimir Duthiers to discuss the latest GPD report from the U.S. Commerce Department, which shows the economy shrank 0.9% in the second quarter of 2022.
Stocks rise after Fed announces second consecutive 0.75% hike
Strong financial results from Alphabet, Boeing and other corporate bellwethers helped lift investors' mood.
Stocks sink after weak profit report from Walmart
Weak profit reports from some of the biggest names in corporate America are souring the mood of investors.
White House: Biden's COVID symptoms improving
Preliminary lab results show President Biden was infected with the B.A 5 COVID subvariant, which is the most dominant in the United States. CBS News Radio correspondent Steven Portnoy joined Jericka Duncan and Vladimir Duthiers to discuss the president's diagnosis and its potential impact on the upcoming midterm elections.
U.S. jobless claim rise in mid-July
The Department of Labor's weekly unemployment report shows there were 251,000 first time applications filed in the week ending July 16. Senior economic analyst and Washington bureau chief at Bankrate.com, Mark Hamrick, joined CBS News' Anne-Marie Green and Vladimir Duthiers with more on what this means for our economy.
Americans filing jobless claims at highest level in 8 months
More than 250,000 people applied for unemployment benefits last week, the highest number since November.
Home prices in the U.S. climb to record $416,000
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
7/19: Red and Blue
President Joe Biden weighs whether to make a climate emergency declaration; Emmett Till's home to receive landmark funds.
CBS Evening News, July 15, 2022
Biden holds controversial meeting with Saudi crown prince; "CBS Evening News" viewers help raise $45,000 for family struggling to afford gas
Making sense of the economy amid inflation
Economists were spot on that our post-pandemic recovery will not follow the normal rules. However, we now find ourselves watching inflation skyrocket as fuel prices fall. Derek Thompson, staff writer at the Atlantic, joins CBS News to discuss his latest piece, titled "The Everything-Is-Weird Economy."
Gas prices could soon fall below $4 a gallon: Biden adviser
After hitting a record high in June, prices at the pump have fallen for more than 30 straight days.
Europe feels pain of soaring fuel costs as Ukraine war drags on
In Italy more people are heading to food banks, while Germans are turning down the AC to prep for energy rationing.
Viewers donate to family struggling to afford gas
"CBS Evening News" viewers helped raised more than $45,000 for a family who was struggling to pay for gas to get their daughter who has cancer to her medical appointments. The family won't have to rely on high-interest payday loans to buy gas thanks to the donations.
Family takes out loans for gas to drive daughter to cancer treatments
The Vincents now spend more than $200 a week on gas, money they don't always have.
Meeting between Biden and Saudi Crown Prince
President Joe Biden is arriving in Saudi Arabia for his highly-anticipated meetings with Crown Prince Mohammed Bin Salman and his father, King Salman. CBS News' Ed O'Keefe and Bo Erickson break down on what the leaders will discuss.
Stocks rally as investors look for "pockets of optimism"
Investors were cheered by new data on strong consumer spending, but worries remain about the impact of high inflation.
U.S. stocks sink as investors worry Fed hikes might derail growth
"Growth fears are hitting the markets harder than inflation concerns," said one analyst.
Cost-of-living crisis will hit women hardest, report says
U.S. ranks No. 27 in gender parity, behind New Zealand, Rwanda and Germany which received top marks in report.
War in Ukraine rages on as global crisis worsens
The war in Ukraine is having a major impact on food and fuel supplies worldwide. William Taylor, former U.S. ambassador to Ukraine, joined John Dickerson to discuss the situation.
Biden travels to Middle East
President Joe Biden holds talks with Mexican President Andrés Manuel López Obrador at the White House before traveling to the Middle East to meet with several leaders from the region. CBS News correspondent Christina Ruffini joined Vladimir Duthiers and Anne-Marie Green to discuss Mr. Biden's agenda.
Trump says he will meet with Zelenskyy after "very successful day" with Putin
President Trump announced the news on Truth Social hours after meeting with Russian president Vladimir Putin in Alaska.
Hurricane Erin, first of Atlantic season, strengthens to Cat 5
Erin is the first hurricane to develop over the Atlantic this year, and meteorologists are closely tracking its path and forecast.
USCIS to more heavily scrutinize "good moral character" citizenship requirement
U.S. Citizenship and Immigration Services instructed officers on Friday to consider additional factors when determining whether immigrants applying for U.S. citizenship have a "good moral character."
Trump administration faces lawsuit over "secret report" on climate change
Environmental groups and independent scientists are criticizing a report assembled by a small team of well-known climate skeptics selected by Energy Secretary Chris Wright.
DOJ removes D.C. emergency police chief, agrees to rewrite immigration directive
Attorney General Pam Bondi issued an order Thursday that amounted to a reversal of "sanctuary" policies in D.C. The District sued over the order Friday.
Trump-Putin summit in Alaska ends with no deal on Ukraine ceasefire
President Trump and Russian President Vladimir Putin held a high-stakes summit in Alaska, but the talks did not yield a ceasefire in Ukraine.
Thieves steal $2 million in jewelry from Seattle store in 90 seconds
The thieves were armed with bear spray and a Taser, and shattered the building's glass doors before ransacking display cases.
Man rescued after 2 days trapped behind a California waterfall
Ryan Wardwell of California planned to rappel down waterfalls known as the Seven Teacups on Sunday, officials said.
Canada government forces Air Canada, flight attendants into arbitration
Air Canada had suspended all operations after more than 10,000 of the airline's flight attendants went on strike after a deadline to reach a deal passed