Despite uncertainty over the Iran war, the S&P 500 and Nasdaq hit record highs. Here’s why. – CBS News Watch CBS News The S&P 500 and Nasdaq hit record highs on Wednesday despite the economic uncertainty caused by the Iran war. CBS News business analyst Jill Schlesinger explains what’s driving the upward trend. Source link
Intensifying violence in the Middle East could send oil prices careening above their all-time high, raising the risk of higher inflation and slower economic growth, experts said. “The biggest hit will be the consumer,” said Ryan Sweet, a chief global economist at Oxford Economics. “To kind of put it into context, every penny increase in gasoline … Read more
More than 60 record highs were set on Tuesday from California to Idaho as a heat wave sweeps across the western U.S. Downtown L.A. reached 98 degrees on Tuesday, the earliest the city has hit that mark in nearly 150 years. Carter Evans reports. Source link
As the war enters its third week, U.S. military officials say 6,000 Iranian military targets have been struck, including ballistic missile sites and air defense systems and that Iran’s navy has been rendered, quote, combat ineffective. Yet Iran continues to maintain its stranglehold over a tiny elbow of water called the Strait of Hormuz. It … Read more