let's bring in vanessa yurkevich now. vanessa. obviously markets don't like volatility, even though trump says he's not watching the markets well, certainly a lot of people are watching the markets though. >> and what we've seen most of the day is that markets were down on the news of this sort of weaker than expected jobs report. but if we look at the numbers now, they're up again. and this is just though a moment, a snapshot in what has been a very volatile week on wall street and potentially why they are up right now is because the fed chair, jerome powell, was at an event earlier today and he said that despite these levels of uncertainty, the u.s. economy is actually in a good place and that we just need to wait and see. so when you have the fed chair making a comment like that, that the economy is still working well, it is still doing well, that might have calmed some nerves on wall street, but of course, this has been an up and down week. there are more obviously losses than gains this week, and next week is a brand new week

vanessa yurkevich. thanks very much. and jeff zeleny appreciate you as well, pamela. >> all right, wolf, let's discuss this now with republican congressman mike lawler of new york. he sits on the foreign affairs and financial services committee. congressman, thank you for being here with us. we are expecting, as it was just laid out for president trump to address today's jobs report at any moment. as we said, it is solid, a little below expectations, but solid according to economists. at the same time, we saw president trump try to blame his predecessor for, you know, rising prices and the currency of the economy. now he's embracing these jobs numbers. is president trump just cherry picking the economic data he likes.? >> no, i think when you look at what we went through under the biden administration, we saw record inflation. you look at mortgage costs, 30 year highs. the average mortgage in my district, for instance, went up $1,000 a month. that's over $12,000 a year. people could not afford basic necessities, grocery

vanessa yurkevich alayna treene, thank you so much. well. >> important developments indeed. up next, president trump's senior counselor for trade and manufacturing, peter navarro, joins us live here in the situation room. we'll talk about those tariffs and possible exemptions. >> this morning. bonnie. bonnie yes i can. i'm pamela i'm wolf. >> there's more breaking news. we're following here in the situation room. president trump and the canadian prime minister justin trudeau are expected to speak this morning amid a growing trade war between the united states and canada. it's a crucial conversation, pam. >> yes, it is crucial. and it comes after president trump's commerce secretary suggested that he could back off some of the tariffs on canada and mexico. so let's talk about that. joining us now is president trump's senior counselor for trade and manufacturing peter navarro. first off i want to talk about. >> great to be on set. i just love your your new set here. and congratulations on the morning show. >> thank you very much. we appreciate that. it's been we're a few days

i want to go live to cnn business and politics correspondent vanessa yurkevich vanessa. this is a recession level spike in job cuts. but this put this into context for us. >> yes, certainly a recession level spike in cuts. but that does not mean we are in a recession just yet, wolf. 172,000 jobs that employers are expecting to cut. and a lot of those jobs you can see right there up 103% from the month before. and a lot of those jobs, according to this report by challenger and gray, are coming from government. so they point directly to the impacts of doge doge job doge has been really taking a hatchet to a lot of the federal agencies, and we're seeing that show up in this report. more than 62,000 jobs are going to be cut in government. and that is significant because just in that same time period in 2024, the job cuts were about 100 jobs in government services. the next sector that is seeing job cuts right now is retail. and this is really a response to consumers. consumers are expected to pull back in spending. and thus you see businesses and retailers pulling back in th

so let's go live now to cnn business and politics correspondent vanessa yurkevich in new york. vanessa, break down these numbers for us by job sector. >> yeah, let's look at the job sectors that gained in the month of february. you have health care, finance, transportation and warehousing. and also i'll add manufacturing to that list. you can see those numbers right there. those are added jobs. manufacturing gained about 10,000 jobs. and we've already heard from the white house this morning touting that number because of president trump's initiative to bring u.s. manufacturing into the fold and really produce jobs in that sector. they're pointing out that a lot of those jobs were in the auto sector. but let's look at different industries that lost in the month of february, in particular, leisure and hospitality lost 16,000 jobs. a lot of that, this report notes, was due to strike activity. but this is an industry that you want to keep an eye on because it really is tied in with consumer sentiment and consumer spending. what is going to happen to that industry? and then the feder

cnn's vanessa yurkevich is in new york tracking all of this. ssa, what is driving investors today? >> yeah, well, the. >> markets have been bouncing around all day, but they are very much up right now. and that is. coming on the news that jeff just talked about. >> the pause for u.s. automakers. >> on these tariffs. that is. >> significant for. >> these companies that do so much business with canada and mexico. look at the dow. >> now. >> almost crossing 600. >> points. nearly erasing. >> losses from yesterday. also the big three automakers. >> stellantis. >> ford, general motors. >> they have been in. >> the green for most. >> of the day. >> and i. >> believe they are. remaining there right now. just taking a look there. all of them up. this is welcome news for the auto industry who was very nervous about what these tariffs would mean for companies bottom lines and also for u.s. consumers who are obviously buyers of all of these brands. one estimate suggested that because of tariffs, it would cost $3500 to $12,000 more to produce a vehicle. now

. >> cnn's vanessa yurkevich joins us now live to break this down. vanessa, to kevin liptak point, these tariffs are inflationary and americans are already dealing with high prices. how soon can they see these new tariffs have a reflection on their day to day spending. >> yeah. well if you look at the stock market, anyone who holds money in the stock market you're feeling the effects right now. i mean the dow tumbling north of 800 points today as some of these retaliatory tariffs were announced. but for the everyday consumer you're going to feel it in the next couple of days. and that is according to target ceo brian cornell, who said that fruits and vegetables in particular, something they get from canada and mexico regularly, are going to see price increases in the next couple of days. also, best buy saying that they're going to have to increase prices, and walmart, which is really the bellwether for the u.s. economy, saying that they're expecting slower consumer growth over the next year. they said that a few weeks ago, and they will likely be comi

seeing as vanessa yurkevich is here to share this moment of the markets opening night. >> we got. >> minute. >> but here we go. >> 151,000 jobs added. a little bit lower than expected, but still solid. the unemployment rate ticking up to 4.1% from 4%, but still historically low. interesting where we have seen job gains. last month we saw it in health care, in finance, transportation and warehousing. but where we saw declines is interesting. leisure and hospitality. this is potentially reflecting how businesses are feeling. consumer spending, what they're going to be spending in the future. and then overall government jobs increase. but at the federal government level decreased by 10,000. and then when you break it out a little bit, u.s. postal service, those are where the declines happened. 6700 jobs there and other federal workers losses of about 3500 jobs. wages, though important, wages rose 4% year over year. that's good because that's keeping up with inflation. even better than inflation, which is about 3%. and i think we are just about open here. but futures were up mixed. and h

vanessa yurkevich appreciate it.nk you kate. >> still ahead for us, we are following the breaking news out of the supreme court. the justices rejecting president trump's request to keep billions in foreign aid frozen. we're going to talk much more about that breaking news and the impact of it. and the cdc is now on the ground in west texas as the measles outbreak there is getting worse still. >> twitter that's a great name. >> we invented a whole new thing. no one could possibly have understood where it was going. >> twitter breaking the bird premieres sunday at ten on cnn. >> dry eyes. >> still feel pretty. >> rough or tired. >> with my bow. eyes can. >> feel. >> my bow. >> my bow is the only prescription dry eye drop that forms a protective layer. >> for the number. >> one cause of dry eye. too much tear evaporation for relief. >> that's my bow. yeah. >> remove contact lenses before using my bow. wait at least 30 minutes before putting them back in. eye redness and blurred vision may occur. >> my bow. oh, yeah. >>

let's get right to cnn's vanessa yurkevich for this report. it's a coming. >> it's a coming. >> and this is going to be. >> the first. >> full jobs report that we're. >> seeing under the trump administration. so they are going to be watching this closely. here's the expectation. economists are predicting 160,000 jobs added unemployment rate really remaining quite historically low at about 4%. and 160,000 jobs added is actually more than what we saw in january. and that's a good number. it's obviously coming off the highs that we saw towards the end of last year and the pandemic highs that we have seen. but it's worth noting that if we do. there you go. you have those numbers over the last couple of months, but it's worth noting that we have had 49 months of consecutive job growth. that is the second longest streak on record. and as you mentioned, john, this is really coming on the background of all of this economic uncertainty, particularly for businesses. they want to be able to plan. are they hiring. are they firing. we got that report from

i want to go straight to cnn's vanessa yurkevich. vanessa. >> yeah. what you are seeing now in the markets is mostly a response to this trade war, this trade war has erased all gains in the markets since president trump was elected. and what you are seeing is investors very nervous about what this trade war means for prices, how consumers will react, and then ultimately, what kind of a business outlook are we seeing because of this trade war? we heard from target ceo brian cornell this morning, who said that they are going to have to raise prices on things like fruits and vegetables that we get from canada and mexico, and consumers will feel that impact in the next couple days. we are also hearing the same thing from companies like best buy, having to raise prices and walmart just the other week said that they expect consumer growth to slow. and for the average consumer, just taking a step back here outside of wall street, on main street, we know that consumer confidence has fallen. we know that inflation is heating up and tariffs are certainly adding

cnn's vanessa yurkevich paula newton, who is in canada. let's start with vanessa first on what we are seeing here and the implications. >> yeah. so this really ignited a trade war between our three major trading partners. we're now seeing tariffs of 25% on imports coming in from canada and mexico. and now 20% total for imports coming in from china. this is going to impact $1.4 trillion worth of goods that come into the u.s. every single year. that's about 40% of all imports that we get every single year. and what do we get from these major trading partners? well, we get oil, food, electronics and cars. we are waiting to hear what mexico is going to do in response. but we know what china is doing in response. they are retaliating with tariffs on their own, hitting agricultural products here in the u.s. on things, a 15% tariff on exports going to china from the u.s., chicken, wheat, corn, cotton, also a 10% tariff on things like soybeans, pork, beef. this is very critical because president trump just yesterday posted on truth social saying th

cnn's vanessa yurkevich is with us. more with us now with more on this. tell us about the cost here. vanessa. >> yeah. if you just look at markets on your screen right there, you can see the nasdaq recovering a little bit. but for most of the past 24 hours, markets have been in the red as investors are trying to digest what these tariffs are going to mean for prices, how consumers are going to react. and then what that means for the business outlook and what businesses are going to be doing in the future. this is important, though, of course, for consumers as well. on main street. what does it mean for all of us? well, because of these 25% tariffs on canada and mexico and a 20% tariff on china, we are likely going to be paying higher prices for key things like oil, food, electronics, things like cars right there on your screen. these are things that are going to be seeing higher prices because of these tariffs. and we as americans consume about $1.4 trillion worth of goods that are now going to be taxed by these tariffs. that's 40% of all imports that we g

cnn's vanessa yurkevich tracking all of this for us is here with me now. and vanessa mexico just responded. >> yeah, we just heard from the president of mexico, claudia sheinbaum. and she said that this trade war is not good for any country involved right now. take a listen to what she said just moments ago. >> we will respond with tariff and non-tariff measures. which will be in force as from next sunday. >> okay. so we're going to learn more on sunday. exactly what those responses will be. they will be retaliatory tariffs and non-tariff measures. that will be interesting to see what those look like. we also know how china is responding. they are putting retaliatory tariffs on agriculture products here in the u.s. 15 to 10% on key products like soy, corn, poultry, things that are critical that the u.s. exports. and that is going to put u.s. farmers in a critical position because they rely on china buying so much of our agriculture products. this happened in 2018, and this was something that really impacted farmers, so much so that the federal government, t

let's bring in cnn's philip mattingly, vanessa yurkevich. and we're also going to bring in mark zandi, chief economist for moody's analytics. and mark, you recently said that the u.s. economy appears to be gagging on the uncertainty. that's your term created by this economic policymaking, which many call haphazard, including the tariff wars. the doge cuts back and forth, people hired people. people fired and rehired. tariffs implemented, then taken back. if this chaos continues, what will that mean? where will the u.s. economy be? >> uh, jake, it will grind the economy down. you can feel it already in the stock market, right? you talked about how that's been down. what was it sliding downhill? uh, it's been doing that now for two weeks. >> hell, yeah. >> uh, sorry. skiing. downhill. skiing downhill. uh, you know, that's a pretty good barometer of the angst out there among investors and business people. and, uh, you know, ultimately that will affect business investment decisions, hiring decisions right now. you know, i think businesses are ki

. >> jake vanessa yurkevich, thank you so much. good to see you to our world lead. now is the path to an actual lasting peace between ukraine and russia getting longer and more winding with no deal after friday's now infamous oval office rumble involving president trump, vice president vance and ukrainian president volodymyr zelenskyy this afternoon, mr. trump was asked what he would need to see from president zelenskyy to restart any negotiations for a ceasefire or a mineral agreement. >> well, i just think he should be more appreciative because this country has stuck with them through thick and thin. we've given them much more than europe. >> this be more appreciative message was relayed directly to zelenskyy during that friday meeting. >> what you're doing is very disrespectful to the country. this country that's backed you far more than a lot of people said they should have. >> have you said thank you once this entire meeting? no. in this entire meeting, have you said thank you? >> now, vice president vance was talking about saying thank you in that meeting, whi

vanessa yurkevich great to see you. thank you very much. we've got a lot of news, a brand new hour of cnn news central starts right now. >> president trump preparing to lay out his vision for the country in his big address before congress, just as russia says that trump's foreign policy largely coincides with their vision, elon musk's purge of the federal workforce has left hundreds of noaa employees now without a job, leaving experts now warning those cuts are going to hurt much more than just a weather forecast. and hollywood's big night the oscars, the big winners, the long speeches and the history making moments. i'm kate bolduan with john. sara is out today. this is cnn news central. >> all right. just moments ago, president trump previewed his speech before congress tomorrow night. he says, quote, tomorrow night will be big. i will tell it like it is. the last few days that has meant telling it as russia likes it. a short time ago, a kremlin spokesperson commented on the president's oval office attacks on ukrainian leader vladimir zel

cnn's vanessa yurkevich is here with that. what approach are we talking about? >> well, you. >> can take two approaches, right. as this is a time of economic uncertainty, you have tariffs that are looming. inflation heated up in january and consumer sentiment fell. people are not feeling great about the economy. so consumers are probably going to tighten their wallets. we saw that in january with retail sales falling by nearly 1%. so companies are either going to have to absorb some of these higher costs, particularly with tariffs, passed on to consumers. or the other option is lower prices. and we've seen that with a few brands, 65% of adults say that the most important thing to them when they're choosing where to shop is price. so the companies i spoke to, lalo, that is a company that makes baby furniture, toddler furniture. bobby, a formula brand company, and blue apron, a meal kit company, all said independently. in the last month they lowered prices, and they're doing this because they think it's a good investment in their business. for example, lalo in par