Monthly Archives: August 2022

Global stocks edge up after jobs data soothes concerns over the US economy; oil slips as Ukraine-related gains fade

Investors are mulling Friday’s jobs report, which showed the US labor market is still booming. Mark Lennihan/Getty Images Global stocks and US futures rose Monday after Friday’s jobs report eased recession fears. Investors will focus on the inflation report Wednesday for clues to Federal Reserve rate hikes. Oil prices slipped but still traded just above…

Today’s mortgage and refinance rates: August 8, 2022 | Rates are low, but remain volatile

Mortgage rates have been volatile in recent weeks as the push and pull of inflation and a possible recession continues. This week, the US Bureau of Labor Statistics will release July’s consumer price index data. This is a closely watched gauge of inflation, and will likely have an impact on where mortgage rates will go…

Nearly 950 US flights were cancelled and more than 7,700 were delayed on Sunday as travel chaos took its toll

Southwest Airlines cancelled and delayed the most flights out of any US airline on Sunday, per FlightAware. Jonathan Weiss/Shutterstock There were almost 950 US flight cancellations and more than 7,700 on Sunday, per a flight tracker. Southwest cancelled and delayed the most flights out of any US airline on Sunday, per FlightAware. This was an…

CBS partially retracts documentary that outraged Ukraine by claiming that US weapon shipments were going missing

Ukrainian soldiers man a howitzer during artillery drills in northeastern Ukraine’s Kharkiv region, June 14, 2021. Vyacheslav Madiyevskyy/ Ukrinform/Future Publishing via Getty Images CBS said it was updating a documentary that said most weapons sent to Ukraine don’t reach the front. It admitted that a figure it cited claiming only 30% of military aid arrives…

JetBlue’s CEO says he has to ‘over-hire’ just to retain the number of staff the airline needs, following an exodus of workers from the industry

JetBlue CEO Robin Hayes joins fellow airline executives, union heads and politicians for a news conference to call on Congress to pass an extension of the Payroll Support Program to save thousands of travel jobs, September 2022 Chip Somodevilla / Staff / Getty JetBlue’s CEO said he’s having to “over-hire” airline workers following an exodus…

Russia unloads an oil cargo at an obscure Egyptian port, as ships carrying its crude increasingly cover their tracks

Russian oil has been increasingly involved in “dark activity” since the country invaded Ukraine. Photo by ANGELOS TZORTZINIS/AFP via Getty Images Russian oil is being transported via a mysterious Egyptian port as Western sanctions loom.  The port makes it possible to blend Russian and Egyptian crude, obscuring its origin.  Dark activity over Russian oil has…

How the hot jobs report may force the Fed to break the economy.

Friends keep asking me about Friday’s jobs data. Phil Rosen here, reporting from Los Angeles. This is what those conversations looked like:  Friend: “The jobs report almost doubled expectations! This is a great sign for the economy!” Me: “Well, not entirely.”  Friend: “How so?” Me: “The big reading will force the Fed’s hand in a…