CNN visits boys camp devastated by Texas floods
Camp La Junta is an all-boys camp in Texas that was devastated by flooding on July 4th. The owners gave CNN rare access to see the damage after the storm.
01:53 - Source: CNN
Lightning bolt strikes near delivery man
Video shows a lightning strike nearly hitting a delivery man in Wayne, New Jersey, as storms took place across the Mid-Atlantic.
00:36 - Source: CNN
Trump ramping up pressure on Fed chair
The White House pressure campaign for the Chair of the Federal Reserve, Jay Powell, to lower interest rates escalated sharply Wednesday morning. CNN's Phil Mattingly breaks down Trump's strategy and how markets are responding.
02:54 - Source: CNN
Hikers confront man allegedly setting a tree on fire in LA
Video shows a tense moment where hikers confronted a man for allegedly starting a fire near Runyon Canyon Park in Los Angeles on Sunday and prevented him from leaving the scene. Andrew Ocalliham was arrested and charged with one count of arson of forest land, court records show.
01:23 - Source: CNN
Massive fire destroys Tomorrowland's main stage
Tomorrowland's main stage went up in flames just days ahead of the festival's opening in Boom, Belgium.
00:38 - Source: CNN
The Obamas address divorce rumors on Michelle's podcast
Former President Barack Obama joined his wife, former first lady Michelle Obama, on her latest podcast episode with her brother Craig Robinson to address divorce rumors. In recent months, speculation about their marriage has run rampant after several public appearances where Michelle Obama did not join her husband, including at President Donald Trump's inauguration in January.
01:52 - Source: CNN
How Trump's image is changing inside Russia
Once hailed as a pro-Kremlin figure, President Donald Trump's image is changing inside Russia. It comes after Trump vowed further sanctions on the country if a peace agreement with Ukraine is not reached in 50 days. CNN's Chief Global Affairs Correspondent is on the ground in Moscow with the analysis.
01:41 - Source: CNN
Syrian anchor takes cover from airstrike live on TV
An airstrike on the Syrian Ministry of Defense was captured live on Syria TV, forcing the anchor to take cover. Israel has been carrying out airstrikes on Syria as part of its commitment to protect the Druze, an Arab minority at the center of clashes with government loyalists.
00:30 - Source: CNN
Trump says interest in Epstein files is 'pretty boring stuff'
President Donald Trump said he doesn't understand his supporters' continued interest in the Epstein files, calling it "boring," while also reiterating his call for anything 'credible' to be released.
00:56 - Source: CNN
Rep. Jasmine Crockett responds to Trump saying she should take IQ test
CNN's Laura Coates speaks with Rep. Jasmine Crockett (D-TX) about President Donald Trump's comments that she and Rep. Alexandria Ocasio-Cortez should take an IQ test.
01:05 - Source: CNN
US Citizen who spied on Ukraine awarded Russian passport
Daniel Martindale, an American citizen, spied on the Ukrainian military for Moscow for two years in the region of Donetsk before the Kremlin awarded him a Russian passport on Tuesday, according to state media TASS.
00:41 - Source: CNN
Supreme Court ruling will allow mass firings of Education Department employees
The Supreme Court on Monday said President Donald Trump may proceed with his plan to carry out mass layoffs at the Department of Education in the latest win for the White House at the conservative high court. CNN's Sunlen Serfaty reports.
01:34 - Source: CNN
Unreleased Beyoncé music stolen from choreographer's rental car in Atlanta
Two laptops and hard drives containing watermarked and unreleased music by Beyoncé were stolen from her choreographer's rental car in Atlanta, according to police.
00:55 - Source: CNN
Trump announces novel plan to send weapons to Ukraine
In an Oval Office meeting, President Trump announced that the US will sell weapons to European nations who will then send them to Ukraine. The president also threatened new trade consequences if no peace deal is reached with Ukraine within 50 days.
00:26 - Source: CNN
Deadly fire at Massachusetts assisted living facility
Nine people died Sunday night after an assisted living facility caught fire in Fall River, Massachusetts, officials said, with elderly people begging for help from first responders as smoke poured out of the building.
00:37 - Source: CNN
ICE vehicle runs through protesters
CNN affiliate KGO reports that an ICE vehicle ran through protesters attempting to stop an alleged deportation outside the San Francisco Federal Immigration Court.
00:59 - Source: CNN
How the first 48 hours of the Texas floods unfolded
The Guadalupe River rose 26 feet in 45 minutes on the morning of July 4th, leading to devastation and more than 100 deaths across Central Texas. CNN recounts what happened in the first 48 hours of the flood.
05:02 - Source: CNN
Federal agents face off with protesters at California farm
The Ventura County Fire Department said they responded to calls of people having breathing problems at a farm in Ventura County, California, after federal agents appeared to deploy tear gas canisters into the crowd. A DHS spokesperson told CNN that they were "executing criminal warrants at a marijuana facility." It is unclear if any arrests were made.
01:24 - Source: CNN
Birkin bag smashes auction records at $10 million
Scuffed, scratched and stained, this black leather Hermès Birkin bag just sold for €8.6 million ($10 million), with fees, becoming the most expensive handbag to ever sell at auction. After a dramatic bidding war, the hammer fell at a winning bid of €7 million ($8.2 million). Known as 'The Original Birkin,' the rarefied handbag is the first version of this timeless luxury staple, inspired by its owner — '60s 'It-girl' Jane Birkin.
01:52 - Source: CNN
Moo Deng turns one
The Khao Kheow Open Zoo in Thailand celebrated the first birthday of Moo Deng – a pygmy hippo who rose to fame last year after heartwarming and mischievous videos of her went viral. CNN spoke to Moo Deng fans who flew from around the world to celebrate her special day.
01:13 - Source: CNN
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President Trump fires BLS commissioner after July jobs report
President Trump said in a social media post Friday afternoon that he directed members of his administration to fire Erika McEntarfer, commissioner of the Bureau of Labor Statistics, after the BLS on Friday published the July jobs report that contained what it called "larger than normal" revisions to data from May and June. The July jobs report published Friday morning showed the US economy added 73,000 jobs last month, fewer than expected while the unemployment rate rose to 4.2%. The most notable number to emerge from the report, however, was a downward revision to job gains in May and June which that saw 258,000 jobs taken away from what had been initially reported. May's job gains were revised down to 19,000 from 144,000, while June's additions were cut to just 14,000 from the 147,000 initially reported. In its release on Friday, the BLS said these revisions, "result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors." Economists on Friday were near-unanimous in their view that July's jobs data and the revisions to May and June reflect a labor market that is far weaker than had been suggested by recent data and characterizations by some officials, notably Federal Reserve Chair Jerome Powell. "The 'solid' state of the labor market described by the FOMC earlier this week looks more questionable after the July employment report," Wells Fargo senior economists Sarah House wrote in a note Friday. Job gains over the last three months have now averaged just 35,000 after Friday's revisions. This is breaking news, more to come...
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Trump Taps Banks For Fannie, Freddie IPO Ideas
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This week in Trumponomics: The Trump slowdown is here
Economists have been warning that President Trump's trade wars will depress growth and hiring. Trump and his defenders say pshaw. But the Trump economy is suddenly looking shaky. Hiring slowed dramatically in July, and downward revisions for the two prior months reveal the weakest job market since the COVID recession in 2020. Employers added just 73,000 jobs in July, with the average for the past three months an anemic 35,000. In 2024, job growth averaged 168,000 new jobs per month. Up till now, Trump has waged his trade war with impunity. His tariffs have raised the average tax on imports from 2.5% to about 18%. That's a hefty tax on some $3 trillion worth of goods, paid by American businesses and consumers. Yet inflation is still below 3%. The stock market flinched in April and May but has since hit a series of new record highs. The second quarter of 2025, however, is now looking like it may have been the last respite before Trump's disruptive policies take their it's not just hiring. Second quarter GDP rose by 3%, which would be solid in normal times. But the numbers are distorted by a surge of imports in the first quarter and a corresponding plunge in the second. Even it out, and GDP growth in the first half of 2025 was a weak 1.2%. That's less than half the growth rate in the first half of 2024, which was a more robust 2.8%. Many companies are beginning to say Trump's tariffs are harming profits, including bellwethers Ford (F), General Motors (GM), and Procter & Gamble (PG). The US manufacturing sector has contracted for five months in a row, and manufacturing employment has dropped for three months straight. Tariff-related inflation might also be materializing. The inflation rate inched up from 2.4% in May to 2.7% in June. There were notable month-to-month price hikes in product categories dominated by tariffs, including clothing, appliances, sporting goods, and toys. Consumers don't normally notice small monthly price hikes, but they notice for sure if price hikes persist and stuff continually gets more expensive. All of these trends are exactly what the many critics of Trump's trade wars have predicted. Tariffs raise costs for any firm or household dependent on imports. Higher costs reduce spending and investment. Trump's episodic tariff announcements also create uncertainty because affected businesses can't predict future costs. That creates an incentive to wait instead of investing, expanding, or hiring. The net effect is lower growth, lower employment, and possibly stagflation. Read More: What is stagflation, and how does it impact you? It's possible that Trump will get the message and wind down his trade wars. But not before more chaos. Just as Trump was inking trade deals with Japan, South Korea, Indonesia, and the European Union, he upped the ante on some five dozen other countries by threatening tariffs on their imports as high as 40%, including a new 35% rate — up from 25% — on some Canadian imports. The US stock market had been hovering near record levels on the hope that the worst of Trump's tariff fulminations were over. But stocks sank anew on Aug. 1 on the latest tariff shock, plus the lousy job numbers. There's yet another tariff deadline, Aug. 7, when the latest barrage of tariffs will go into effect unless those 60-odd countries make trade deals with Trump. Some of them probably will. But the new regime of higher tariffs is here to stay, and whether the average tariff rate is 18% or 20% or 22%, everybody's going to have to deal with Trump's new import taxes. Read more: 5 ways to tariff-proof your finances The consolation prize is that the weakening economy makes the Federal Reserve much more likely to cut interest rates in the fall. Odds of a quarter-point rate cut in September jumped from 38% to 81% after the latest job and tariff news, according to the CME Group's FedWatch tool. Trump, of course, has been hectoring the Fed to cut rates, and the weakening Trump economy now gives it a reason to. Most economists think the economy will slow from 2.8% GDP growth in 2024 to around 1% in 2025 and 2026. That's not a recession, but weak growth will make jobs more scarce, keep a lid on wages, and intensify the economic blahs many people feel. It's probably happening now. Rick Newman is a senior columnist for Yahoo Finance. Follow him on Bluesky and X: @rickjnewman. Click here for political news related to business and money policies that will shape tomorrow's stock prices. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
