S&P 500 notches first record high in two years in tech-driven run
CBSN
The stock market rallied to record highs on Friday, with Wall Street buoyed by investor expectations of interest rate cuts ahead by the Federal Reserve and robust corporate profits.
With technology stocks driving early year gains, the S&P 500 rose 1.2% to a record 4,839, sailing above the broad index's prior closing high of 4,796 in January 2022. The Dow Jones Industrial Average surged nearly 400 points, or 1.1%, and the Nasdaq Composite climbed 1.7%.
"When the stock market last peaked, the Fed had yet to begin raising interest rates to combat inflation" Greg McBride, chief financial analyst for Bankrate, said in an email. "In the two years since, we saw the fastest pace of interest rate hikes in 40 years. With inflation now moving back toward the target of 2%, the focus is on when the Fed will begin trimming interest rates."
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A 15-year-old girl in Arkansas died Wednesday after a pack of dogs she was caring for attacked her, authorities said.
Tesla on Friday announced it's launching new versions of its Model S and Model X vehicles in the U.S., with new price tags to match.
Washington — President Trump on Friday urged Iran to "make a deal, before there is nothing left" after Israel launched preemptive strikes on Iranian nuclear facilities, senior military leaders and research scientists, the opening attacks in what Israeli officials said is part of a major operation against Iran.
The two people killed in a shooting over the weekend on the Las Vegas Strip captured it on video while livestreaming to their shared YouTube channel, according to a police report.
Stock markets around the world slumped and oil prices surged after Israel on Thursday launched a military strike on Iran.
Kilmar Abrego Garcia, the Salvadoran man who was wrongly deported and then returned to the United States to face federal prosecution, will appear in a Nashville courtroom Friday for his arraignment after he was charged with participating in a yearslong conspiracy to traffic undocumented migrants into the country.
Miami — Josefina Muralles works a part-time overnight shift as a receptionist at a Miami Beach condominium so that during the day she can care for her three kids, her aging mother, and her brother, who is paralyzed.
The average age of moms giving birth in the U.S. continues to rise, hitting nearly 30 years old in 2023, according to a new report from the Centers for Disease Control and Prevention.
As the U.S. grapples with an affordability crisis, "CBS Evening News" spoke to Americans who are struggling to make ends meet.
Israel's military conducted a strike on Iran early Friday morning local time, two U.S. sources told CBS News. Details about the extent of the operation are not yet known.
A Harvard scientist who spent months in custody on a federal smuggling charge was released Thursday after a bail hearing in Boston.
Barbie maker Mattel is partnering with OpenAI to develop generative AI-powered toys and games, as the new technology disrupts a wide range of industries, Mattel announced Thursday.
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