Senate Republicans narrowly voted down a Democratic resolution that would have blocked global tariffs announced by President Donald Trump earlier this month, giving the president a modest win as lawma

A narrowly divided U.S. Senate rejected the latest bipartisan bid to block President Donald Trump's tariffs on Wednesday, just hours after the federal government reported that the nation's economy contracted for the first time in three years amid the chaos of the president's tariff policies.

President Donald Trump narrowly avoided a rebuke from the U.S. Senate on his tariffs due to one Democratic senator's absence. The resolution, defeated with a 49-49 tie on April 30, reflects discontent with Trump's 10% across-the-board tariffs and now-paused "retaliatory" tariffs that rattled Wall Street and contributed to a shrinking GDP as four Republicans joined with all present Democrats in supporting it.

Wall Street extended its gains to a ninth straight day Friday, marking the stock market’s longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April.

The latest jobs numbers beat expectations, showing the U.S. economy added 177,000 jobs in April. CBS News' Kelly O'Grady has more on the data, and Willie James Inman has more on the Trump administration's response to the report.

The report gives the first glimpse of how the economy has fared after Trump’s so-called ‘Liberation Day’ when he introduced sweeping tariffs that plunged the stock market into chaos