*By Michael Teich*
Wall Street applauded a better-than-expected June jobs report, sending the Dow Industrials Index nearly 100 points higher Friday.
Despite those numbers, though, the U.S. economy is still grappling with growing trade tensions with China and Europe. The Trump administration's tariffs officially went into effect early Friday morning as the U.S. followed through on its threat to impose taxes on $34 billion of Chinese imports. China promptly responded with a similarly seized tariffs on U.S. goods, including pork, soybeans, and electric vehicles.
If trade wars accelerate, "the downside risks outweigh the upside risks," said Mark Hamrick, Senior Economic Analyst, Bankrate.com.
"The trade disputes are having impacts that are real in the economy right now."
The U.S. added 213,000 jobs in June, topping the forecast of 195,000. It was the 93rd consecutive month of job growth. The unemployment rate, however, rose to 4 percent as more people returned to the job market searching for work.
For the full segment, [click here.](https://cheddar.com/videos/u-s-job-growth-beats-expectations)
The National Oceanic and Atmospheric Administration has released its 2023 Spring outlook and the ongoing trend of unseasonable weather could be continuing.
Adam Bry, co-founder and CEO of drone manufacturer Skydio, joined Cheddar News to discuss the company's latest funding round and the Russia-US drone collision.
The San Francisco Board of Supervisors voiced support for the city's reparations committee's recommendation to pay eligible Black adult residents $5 million
The Federal Reserve on Wednesday evening said its long-awaited digital payment system, the FedNow Service, will start operating in July. The service is designed to provide a national platform for financial institutions to settle payments in real-time and at lower cost. That could include large banks, payment processors, and the U.S. Treasury.
A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation's banking system “remains sound” and Americans "can feel confident” about their deposits.
A federal judge in Texas raised questions Wednesday about a Christian group's effort to overturn the decades-old U.S. approval of a leading abortion drug, in a case that could threaten the country's most common method for ending pregnancies.
Texas Rep. Greg Casar spoke with Cheddar News to give his thoughts on abortion rights and union protection.
Texas officials have announced a takeover of Houston’s nearly 200,000-student school district.
A federal judge will hear arguments Wednesday in a high-stakes court case that could threaten access to medication abortion and blunt the authority of U.S. drug regulators.
Federal Reserve Chairman Jerome Powell should be very cautious when deciding to raise interest rates or he risks another bank crisis, Rep. John Garamendi (D-Calif. 8th District) told Cheddar News.
