U.S. Adds Jobs in June, But Trade War Could Slow Growth
*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)
Democrats are hoping to pass the Build Back Better Infrastructure Bill this week, but fellow Democrat Senator Joe Manchin has proven to be a steady fast hold out, stating that he will not support a multi-trillion dollar bill without greater clarity. U.S. News and World Reports Political Reporter Lisa Hagen joined Cheddar to discuss the future of the bill.
Carlo and Baker discuss the election results across the country, including a Republican comeback in Virginia -- and possibly NJ -- plus the CDC gives the go-ahead for child vaccinations, Atlanta wins the World Series and more.
David Wagner, Portfolio Manager at Aptus Capital Advisors, joins Cheddar News' Closing Bell, where he explains why we continue to see record closes from the Dow, S&P, and Nasdaq, and breaks down figures from Lyft's Q3 earnings report.
Voters across the country are heading to the polls today for Election Day. The results of some key races could signal what we can expect in upcoming elections. In Virginia, Democrat Terry McAuliffe is facing off against Republican Glenn Youngkin for governor in a tight race. The race has both parties watching because it's a big indicator of how voters are leaning ahead of the 2022 midterm elections. Kyle Kondik, managing editor of Sabato's Crystal Ball at the University of Virginia Center for Politics, joins Cheddar News to talk about what's in store for the state.
Laura Vozzella, local reporter for The Washington Post, joins Cheddar News to discuss the close gubernatorial race in Virginia and what voters are looking for in each candidate.
The U.S. Supreme Court takes a closer look at the Texas abortion law that was designed by its sponsors to evade constitutional review in federal court. Katie Barlow, journalist and social media editor at SCOTUSblog joins Cheddar News to breakdown what was discussed.
John Paul Mejia, the national spokesperson for the Sunrise Movement, joined Cheddar to talk about what the youth activist group wants to see from President Joe Biden as he attends the COP26 climate summit. Mejia admonished the president for having little to deliver on his own climate agenda domestically while at the conference. "We need the president to follow through with his promises because, frankly, it's a matter of life or death not only for communities here in the United States but also those looking to us around the world," he said.
With COP26 kicking off, roughly 120 world leaders and delegates are in Glasgow, Scotland to hold climate talks this week. As experts continue to warn about the dangers of climate change, ESG investing is more important than ever.
Georges Archibald, Head of Apex Americas at Apex Group joined Cheddar's Opening Bell to discuss.
President Biden expected to unveil details on a Covid-19 vaccine mandate for businesses in coming days.
This comes just days after The White House issued separate vaccine mandates for federal contractors across the country. Mark Kluger, Founding Partner, employment law firm Kluger Healey joined Cheddar's Opening Bell to discuss.
