Stocks slide as strong data suggests Fed has difficult fight ahead against inflation

Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve’s difficult fight against inflation. The S&P 500 fell 73 points, or 1.8%, to 3,999 — its third straight drop. The slide more than offset the index’s gains last week. The Dow Jones Industrial Average … Read more

Stocks fall with another interest rate hike expected from Federal Reserve

Stocks fall with another interest rate hike expected from Federal Reserve – CBS News Watch CBS News The Dow plunged over 480 points Monday as investors remain fearful the Federal Reserve could drive the economy into a recession with additional interest rate hikes. Dory Wiley, president and CEO of Commerce Street Holdings, joined CBS News’ … Read more

Uber CEO says company is

Uber CEO says company is “in a good place” as layoffs mount in U.S. tech industry – CBS News Watch CBS News Uber CEO Dara Khosrowshahi says the company won’t be cutting jobs despite mounting tech industry layoffs. Bloomberg Tech reporter Jackie Davalos joins “CBS News Mornings” to discuss the latest. Be the first to … Read more

New Zealand launches inquiry into its coronavirus response

WELLINGTON, New Zealand — New Zealand is launching a wide-ranging inquiry into whether it made the right decisions in battling COVID-19 and how it can better prepare for future pandemics. Prime Minister Jacinda Ardern said Monday the coronavirus had posed the greatest threat to the nation’s health and economy since World War II. She said … Read more

12/4: Face The Nation: Blinken, Aguilar, Holder

12/4: Face The Nation: Blinken, Aguilar, Holder – CBS News Watch CBS News This week on “Face the Nation with Margaret Brennan,” the race to get as much done before the holidays as possible is on here in the nation’s capital. International diplomacy has stepped up on a number of fronts. With continuing protests in … Read more

OPEC maintains oil targets amid uncertainty over Russian sanctions

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. The decision at a meeting of oil ministers Sunday comes a day … Read more

OPEC+ oil producers face uncertainty over Russian sanctions

FRANKFURT, Germany — The Saudi-led OPEC oil cartel and allied producing countries, including Russia, are expected to decide how much oil to supply to the global economy amid weakening demand in China and uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. The 23-country … Read more

Russia warns it will cut off oil supply after countries vote for $60-per-barrel price cap

Russian authorities rejected a price cap on the country’s oil set by Ukraine‘s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel. The limit is set … Read more

Ukraine urges tougher Western squeeze on Russian oil prices

KYIV, Ukraine — The office of Ukrainian President Volodymyr Zelenskyy called Saturday for a lower price cap on Russian oil than the one agreed to by Ukraine’s Western supporters, while Russian authorities called the $60-per-barrel cap harmful to free, stable markets. Andriy Yermak, the head of Zelenskyy’s office, wrote on social media that the price … Read more