Optimism over firming U.S. economy lifts stocks to record high
CBSN
The S&P 500 and Nasdaq closed at record highs on Monday, with stocks sustaining their momentum amid a rebound in corporate profits and brightening outlook for the U.S. economy.
Along with lifting bullish investors, stocks' strong performance will reassure the White House as it pushes ahead with an ambitious agenda to invest trillions of dollars in infrastructure and to reform taxes. Stocks have had their best run during President Joe Biden's first 100 days in office than since the Eisenhower administration in the 1950s, according to CNBC, citing FactSet data. With millions of vaccines going out daily and trillions of dollars worth of government-led economic support being paid out, investors have turned much of their attention to how well the global economy — and corporate earnings — will do in the recovery. Corporate profits in the S&P 500 are expected to be up 24% from this time a year ago, according to FactSet.
Washington — A federal judge in Seattle temporarily blocked President Trump's new executive order that seeks to eliminate birthright citizenship.
The Sackler family and Purdue Pharma, the maker of the addictive painkiller oxycontin, have reached a $7.4 billion settlement with a bipartisan coalition of 15 states for fueling the opioid crisis, New York Attorney General Letitia James announced Thursday.
Washington — The Senate is poised to confirm John Ratcliffe as CIA director on Thursday as Republicans work to approve officials to the top posts in President Trump's administration amid delays by Democrats.
More than two years after recalling about 1.7 million Ionic smartwatches sold globally, Google-owned Fitbit will pay a $12.2 million penalty for failing to alert consumers that the products can overheat and cause burns, federal regulators said Thursday.
Secretary of State Marco Rubio is preparing to travel to Panama, Costa Rica, Guatemala and other Central American and Caribbean nations in the coming weeks, multiple sources confirmed to CBS News.
A court in India has sentenced five men to death for the gang rape and murder of a teenager as well as the killing of her father and toddler-aged niece.
Dubai, United Arab Emirates — Saudi Arabia's crown prince said Thursday the kingdom wants to invest $600 billion in the United States over the next four years, comments that came after President Trump put a price tag on returning to the kingdom as his first foreign trip.
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Attorneys for a man charged with murder in connection with the killings of four University of Idaho students are asking a judge to throw out most of the evidence in the case because they say it all hinges on an unconstitutional genetic investigation process.
Nominations for the 97th annual Academy Awards are being announced Thursday morning after being delayed twice due to the Los Angeles area wildfires.
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Seven San Antonio, Texas police officers were shot by a barricaded suspect Wednesday night, the city's police chief said. The suspect was found dead from a gunshot wound, he added.
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President Trump on Wednesday named Sean Curran to serve as director of the U.S. Secret Service.
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Meta is denying claims circulating on social media that it forced Facebook and Instagram users to follow President Trump's official accounts, saying the changes some users noticed were standard practices tied to the transition of the POTUS account from the previous administration to the incoming one.