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Jobless claims drop after weak jobs report triggered concerns

Initial claims for jobless benefits fell by 17,000 last week, a small but positive sign for overall employment levels amid resurfacing fears of a U.S. economic recession. The Labor Department said Thursday that jobless claims for the week ending Aug. 3 fell to 233,000 from 250,000 the previous week. The four-week moving average increased by […]

Mortgage rates hit lowest level in over a year: report

New data showed mortgage rates hit their lowest since April 2023 as recession fears spread to the housing market. The real estate company Redfin report The company said Thursday that mortgage rates hit a daily average of 6.34% earlier this week, citing recent weak employment data and resulting “recession fears” as the main driver for […]

Cook Political Report shifts Arizona, Georgia, Nevada toward Harris

The Cook Political Report, an election forecasting organization, has tilted Arizona, Georgia and Nevada in favor of VP Harris as she continues to close the gap in approval ratings with former President Trump. In early July, all three of these states were considered “Republican” states, but President Biden was still in the race and had […]

12:30 Report — Tim’s Walz into the spotlight

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JPMorgan, big banks facing probe over Zelle scams: report

The Consumer Financial Protection Bureau is investigating major U.S. banks for how they handled customer funds on the Zelle network of peer-to-peer payments platform. The Wall Street Journal reported. Wednesday. The investigation is reportedly focusing on major banks including JPMorgan, Bank of America and Wells Fargo. The investigation is reportedly focusing on major banks including […]