welcome to the lead. i m kaitlan collins in for jake tapper. we start with the money lead. wall street closing this hour mostly flat after today s jobs reported exceeded expectations. great news, obviously, but not slowing rising prices and fears of a recession. according to the bureau of labor statistics, the united states added 372,000 jobs in june and on average american paychecks are up 5.1% in the last year. but that s not keeping up with inflation, which jumped 8.6% annually in last month s report. that s a problem for president biden as he is struggling to convince americans his economic agenda is working. my economic plan is moving this country in a better direction. reporter: more signs on friday of a robust u.s. labor market. the economy adding 372,000 jobs in june, far beating economists expectations and the unemployment rate remaining at 3.6%, near historic lows. president biden celebrating the news, saying the u.s. has now recovered all of the jobs lost du
if you have just joined if you havejustjoined us, good to have you with us. we begin with the soaring cost of energy. as governments and central banks grapple with rising inflation and a cost of living crisis, the world s biggest oil company announces record breaking profits. the saudi oil company aramco revealed it made more than $48 billion in profits in the second quarter of this year. the eye watering sum marks a 90% year on year increase and the biggestjump in earnings for the world s largest energy exporter since its public listing three years ago. but what is the outlook for oil prices this year and beyond? the war in ukraine caused a significant spike in the price of energy worldwide prices have come off the highs reached earlier this year and now with fears of recession on the horizon in europe and other key economies globally, there are differing views out there as to where the price of the oil is headed. let s talk this through with craig erlam senior market an
fox and friends first continues right now. benjamin: a busy day, incredible story and todd coming up next. jillian: we are in for todd piro. a man is arrested after a string of shootings in atlanta spots. the shooting happened last night at three different massage parlors in the span of one hour. 6 of the 8 victims are reportedly asian women. police tracked on the suspect, robert long, through surveillance village, capturing his car at each of the crime scenes, police say he was arrested after taking office is on a car chase that ended in a crash, police investigating a shooting. we will keep you updated when we get new information. benjamin: donald trump rips the biden administration for creating a crisis on the border and president biden tells migrants to stop coming. jillian: dhs warns the us could see the biggest migrant surgeon 20 years, good morning. democrats call this a challenge, republicans say this is a crisis, no question about it. alejandra mayorkas will test
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