Economy

Highest U.S. gas prices in years expected to continue rising this summer

American motorists, already facing the highest gasoline prices since 2022, are likely to see fuel costs rise further as the busy summer travel season heats up.

SpaceX's historic IPO plans: Billions in losses and Musk's massive ownership

SpaceX filed for an IPO and plans to list on Nasdaq under ticker SPCX, according to its SEC prospectus.

E.l.f. Beauty to walk back some tariff price increases amid high gas prices and consumer 'suffering'

E.l.f. Beauty raised prices by $1 last August to offset the impact of tariffs. It's now planning to walk back some of that amid a consumer pullback.

How much interest can a $100,000 CD account earn now?

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Oil prices fall after Trump says Iran negotiations in final stages

Prices drop 6% but president warns of further attacks unless Iran agrees to a deal

Bond prices are down, yields are up and investors are on edge. Here's what that means for the economy.

Updated on: May 20, 2026 / 2:47 PM EDT / CBS News

Bezos defends billionaires, hypes AI, talks taxes and praises Trump in CNBC interview

Jeff Bezos rejected accusations that Amazon's decision to release a documentary on first lady Melania Trump was an effort to curry favor with the president.

Why some investors are turning to high-yield bonds amid the volatility. Where to find opportunity

Rates recently took a leg higher across the fixed income market, but some investors see opportunity in high-yield bonds.

Summer travelers face "vacation inflation" as airfare, gas prices rise

Americans with plans to travel for Memorial Day weekend or this summer are likely to face higher costs for everything from gas and airfare to activities and lodging.

Fed officials see rate hike ahead if inflation stays elevated, minutes show

A majority of officials anticipated that interest rate increases would be necessary if the Iran war continued to aggravate inflation.

UAE says new pipeline that will bypass Strait of Hormuz is nearly 50% complete

The UAE has redirected some oil exports through an existing pipeline to Fujairah, which has a maximum capacity of 1.8 million barrels per day.

Jeff Bezos says bottom half of U.S. earners should pay no federal income tax

Amazon founder Jeff Bezos told CNBC on Wednesday that the bottom half of U.S. earners should pay no federal income tax, arguing that eliminating those taxes could ease financial strain and encourage entrepreneurship.