but first another alert kicks off america reports on this august afternoon. lawmakers on both sides demanding answers into the raid at mar-a-lago carried out one week ago today. welcome as we kick off two hours of america reports. i m bill hemmer, a big welcome to my colleague. nice to see you, always a new yorker. i m aishah in for sandra smith. fbi documents revealing the agency seized 11 sets of classified records, including some marked as top secret. mike: now the former president demanding the fbi return some documents allegedly covered by attorney/client privilege. the trump team also asked for an independent review of the records but the doj knocked down that request. all of this as republicans call for the release of the affidavit that would justify the search in the first place. team fox coverage this hour. chris swecker. but but mark meredith live i washington, there is also some growing fears now about violence towards government officials, includ
harris making administration case on wednesday. there s no question we still have work to do but it s important to note these numbers do not fully reflect the recent drop in gas prices. average national gas price have fallen everyday nearly 30 days. since mid-june, prices are down 40 cents a gallon. paul: republican constant kevin brady of texas, top republican on the house ways and means committee. welcome mr. chairman. you heard the vice president say this is out of date, the numbers are out of date, what do you think that? they have no good news to talk about, maybe that s their effort but the fact is, most americans are learning joe biden s economy is a cool economy and we got to double down and inflation is raising both for families and mainstream businesses. it s getting worse, accelerating. you are seeing significant pay cuts for families, mainstream businesses already struggling with shortage and high prices. this tells inflation staying high for an extended perio
food and gas prices taking a toll on consumers. we are asking you, are you confident in president biden s handling of the economy? give us a call if you are republican, (202)-748-8001. democrats can call (202)-748-8000, independents (202)-748-8002. you can text as your comments at (202)-748-8003 but be sure to include your first name and city/state. we are on social media, facebook.com/c-span and you can send us a tweet @cspanwj. before we get to your calls, i will show you some headlines on the economy and we will hear from the president and republican senator as well. here is cnbc s headline. payrolls rose 390,000 in may, better than expected as companies keep hiring. here are some bullet points. unemployment rate held at 3.6% but the jobless rate edged to 7.1%. the average hourly earnings rose slightly, less than expected, but still up 5.2% from a year ago. leisure and hospitality led the gains in jobs followed by professional and business services and then warehousing and
safe. if you look at the dow, it had its worse day in quite some time. 3.6% or more than 1,100 points. the nasdaq down almost five. yeah, we have entered a new face of this sell-off as run-away inflation erodes living standards and profits. take a look at target. it lost a quarter of its value today. the worst day for them since black monday, 1987. quarterly profits fell 50%. yesterday walmart said their profits fell 25%. inflation becomes unmanageable. the lower income consumer feels it the most. look here. dollar general, dollar tree. those stocks tanked today. 14% for dollar tree. ceos are noting a shift in how we shop from buying big things like electronics to appliances to food and essential. goldman sachs says they re seeing customers tap into credit to get by. dave powell says the federal reserve must bring down inflation. they re going to act aggressively raising rates to do so. that warning hit the growth stocks today. apple, the country s biggest company is down 22%
Yields have picked up. Tenyear yield above 5 . That is a significant level. We touched briefly above that for a nanosecond last week. Since then, you have to go back to 2007 when you have seen yields at these levels. 5. 012 for the tenyear yield. By the way, check out energy prices. You will see wti which is off 33 cents. 87. 76. We have merger monday as joe mentioned. Look at what is happening here. Chevron buying hess in the deal of 53 billion. 171 a share. That is a low premium over the Closing Price for hess on friday. Hess shares are up 2. 25 . Chevron down 2. 9 . This deal comes just weeks after exxonmobil made its move to buy pioneer natural resources. Both stocks on the move. Hess ceo john hess will join chevrons board. I just got off the phone with mike wirth. Very low primemium on this. This goes back long before the rumors came out about exxonmobil and pioneer. That deal went through last week. A lot of people thought after the deal, that chevron would look for Something Els