regulators seize control of first republic bank, selling its assets to jpmorgan chase. what does it mean for your money? a mundt under way in texas. hundreds of police officers are searching for a gunman accused of killing five people, including a 9-year-old boy. the latest on the search ahead. fleeing sudan. thousands are l leaving. we re live where a u.s. ship carrying american evacuees has just docked. we re following these developing stories and more coming in to cnn news central. overnight, regulatorings seizing control of first republic bank and its $230 billion worth of assets. jpmorgan stepping in as a buyer and assuming responsibility. we re less than 30 minutes before the opening bell. we want to see how wall street reacts, futures down but only a little bit. wall street seems to be taking this in stride. this is the second largest bank failure in u.s. history, the largest since the 2008 financial crisis and the third u.s. bank to fail since march. cnn chie
forces are close to encircling bakhmut. the u.s. is downplaying the strategic significance if russia wins this round of the war. also tonight, republicans are presented with the sharpest contrast yet between donald trump and ron desantis. we re breaking down dueling speeches by the former president and the current florida governor as they gear up for a potential 2024 primary showdown. and a series of new airline scares is raising serious questions about aviation safety here in the united states. from a bird strike that caused engine failure and smoke in the cabin to the wings of two commercial jets clipping on the many close cal? welcome to our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. we begin on the front lines of eastern ukraine right now, where the battle for bakhmut is growing more urgent by the hour. russian fighters making gains as they move to surround the city. cnn s alex marquardt is joining us live
bill. and monkeypox cases rising around the world. we ll look at the parallels between this outbreak and the early days of the aid crisis. live from cnn center, this is cnn newsroom with lynda kinkade. it is 11:00 a.m. in israel and gaza, day three of deepening losshostilities that began frid. the palestinians saying israeli airstrikes are to blame for killing seven people saturday including four people in a refugee camp in northern gaza. the israeli military denies it was responsible and released a video that it says shows a military rocket going off course. israel says that is what caused the deadly explosion in jabalya. whatever the cause, here is what one palestinian woman said after her home was destroyed. th translator: i started to cry and treatment and there was an st airstrike which put our homes to the ground. what can i do, where will we go tonight? cities across southern israel have been sounding warning sirens as military rockets streak out of gaza by
american plague. live from london, this is cnn newsroom with max foster. it is tuesday, july 5th, 3:00 a.m. in highland park, illinois. the chicago suburb dealing with yet another tragic mass shooting. at least six people are dead, more than two dozen wounded and a suspect is in police custody now. the shooter started just after 10:00 a.m. local time monday as people lined the parade route along central avenue in the suburb north of chicago. we have video from the scene, but we have to warn you that it is disturbing. [ gunfire ] investigators believe the gunman climbed an unsecured ladder in an alley and opened fire from a rooftop. police say the gun was a high powered rifle, the attack appears to be random and intentional. the suspect was arrested without incident a few hours later identified as robert crimo iii. he had posted anonymous videos on lineneighboring name awake the rapper. the investigation will continue. charges have not been approved yet at this time
jacking up interest rates, raising bar owing costs. on thursday our first look at u.s. economic growth for the second quarter, another decline in gdp is expected. of course, two quarters of a loss in a row is a sign of a recession, so are we head there had? here is the treasury secretary. the labor market is now extremely strong. we are in a period of transition in which growth is slowly. we re likely to see some slowing of job creation, but i do i don t think that that s a recession. a recession is broad-based weakness in the economy. we re not seeing that now. we re not seeing that now, but here is this from someone who used to have that job, the former treasury secretary larry somers. i think there is a very high likelihood of recession when we ve been in in kind of situation before. recession has essentially always followed when inflation has been high and unemployment has been low. soft landings represent a kind of triumph of hope over experience, i think we re v