transcript

Speaker 1:
[00:00] At Radiolab, we love nothing more than nerding out about science, neuroscience, chemistry.

Speaker 2:
[00:06] But, but, we do also like to get into other kinds of stories, stories about policing, or politics, country music, hockey, sex, of bugs.

Speaker 1:
[00:16] Regardless of whether we're looking at science or not science, we bring a rigorous curiosity to get you the answers.

Speaker 2:
[00:23] And hopefully make you see the world anew.

Speaker 1:
[00:24] Radiolab, adventures on the edge of what we think we know.

Speaker 2:
[00:28] Wherever you get your podcast.

Speaker 3:
[00:31] It might be getting a little easier to get a mortgage. From Marketplace, I'm Sabrie Benishaw in New York. The Trump administration announced a big change in how people's credit is assessed when they apply for mortgages. Lenders can now consider whether you've been paying your rent on time. Marketplace's Nancy Marshall Genzer reports.

Speaker 4:
[00:51] For years, would-be home buyers could only prove their credit worthiness through FICO scores, which included their track records on things like credit card and car loan repayments. But that's not the whole picture, says Scott Turner, Secretary of the Department of Housing and Urban Development.

Speaker 5:
[01:07] New models include rental history, utility payments, and other data that is not currently accounted for when applying for a home mortgage.

Speaker 4:
[01:16] And now home buyers will be able to use the Vantage Score 4.0 model, which includes that payment history when applying for home loans backed by the Federal Housing Administration or mortgage giants Fannie Mae and Freddie Mac. This is a big deal, since Fannie and Freddie guarantee a majority of US mortgages. Federal Housing Finance Agency Director Bill Poulty says AI will be used to screen out risky borrowers.

Speaker 6:
[01:41] And so we feel very confident that it actually has an increased risk.

Speaker 7:
[01:44] If anything, we think it's decreased risk with what we're doing here.

Speaker 4:
[01:48] Poulty says initially Penny Mac, Rocket, and 19 other big lenders will be able to use vantage scores. I'm Nancy Marshall Genzer for Marketplace.

Speaker 3:
[01:58] The Strait of Hormuz is closed and the US and Iran blame each other for it. The US seized an Iranian tanker a couple days ago and continues its blockade of Iranian ports. Iran has seized two vessels and fired on a third. Peace talks are on hold. But investors have other things on their minds apparently. Russ Mould is an investment director at the U.K.-based investment platform, AJ Bell, and is here to talk about it. Russ, good morning.

Speaker 6:
[02:22] Good day to you, Sabri. Hope you're well.

Speaker 3:
[02:24] The head of the International Energy Agency, Fati Barol, told CNBC today, We are facing the biggest energy security threat in history. And yet markets hit records yesterday. Why are investors looking past this conflict?

Speaker 6:
[02:39] If you look at oil futures, they're pricing in $80 oil within 12 months time, back to almost where we were before the conflict started. And the volatility indices, the move for the US. Treasury or bond market, and the VIX for the US equity market, they're at or below the historic averages. So markets are looking through the conflict, I think partly because they don't know what's coming next, and partly because I think they're just hoping that common sense prevails and we can find a peaceful humanitarian solution.

Speaker 3:
[03:04] You know, we've gotten a ton of earnings reports in the past couple of weeks. Does that have anything to do with the market's bullishness?

Speaker 6:
[03:11] It's certainly helping. We haven't had many nasty surprises, though I should say that US companies are expert at managing expectations, under promising and over delivering. They've probably got bigger tests coming up with the second, third and fourth quarter results, particularly if oil and gas prices stay high, and particularly if the war continues and the Straits of Hormuz remains blocked. Then you may start to see more strain in earnings, but again, markets are looking past that and hoping that that will be the case.

Speaker 3:
[03:36] Russ Mould is investment director at the UK-based investment platform AJ Bell. Russ, thank you so much.

Speaker 6:
[03:41] Thank you.

Speaker 8:
[03:58] Dell PCs with Intel inside are built for the moments that matter, for the moments you plan, and the ones you don't. Built for the busy days that turn into all night study sessions. The moment you're working from a cafe and realize every outlet's taken. The times you're deep in your flow and the absolute last thing you need is an auto update throwing off your momentum. That's why Dell builds tech that adapts to the way you actually work. Built with long lasting battery, so you're not scrambling for the closest outlet. And built in intelligence that makes updates around your schedule, not in the middle of it. They don't build tech for tech's sake. They built it for you. Find technology built for the way you work at dell.com/dellpcs. Built for you. If you're a business leader, Intuit QuickBooks Payroll is an essential tool that completely integrates payroll, time tracking, HR, and your financials in a powerful all-in-one command center. No more juggling platforms or switching between vendors. All your data, synced into one platform, offering clarity and confidence to make smarter decisions and focus on what matters. This summer, QuickBooks Payroll evolves to support the entire team life cycle. HR, time, benefits, and payroll, all working together in one connected system that fully integrates with your books. You'll be able to onboard employees in one seamless flow that feeds directly into payroll, configure automated HR workflows for things like promotions or offboarding, and track performance, time off, and benefits alongside payroll. Upgrade your workflow with QuickBooks Payroll today, and get ready for the brand new tools coming soon. More at quickbooks.com/workforce. That's quickbooks.com/workforce.

Speaker 3:
[05:51] Next month, college students across the country will cross the graduation stage and hopefully join the workforce, entering a market plagued by AI worries and recent jobs numbers that have been on a roller coaster ride. But the outlook isn't all grim. A recent survey by Zip Recruiter found nearly a third of employers plan to hire more entry level workers this year than they did last year. This week, we're hearing from several students navigating all of this. Today, we hear from Alicia Robinson, a journalism student at Morgan State University in Baltimore.

Speaker 9:
[06:23] I remember when I was 12 years old, there was a lot of stuff going on in Jamaica and I used to watch this lady on television. Her name was Duran Samuels. She was basically telling us about what was going on in parliament and how they were arguing and how there was just a lot of things going on with like money problems, like people taking money from where it's not supposed to come from and stuff like that. I remember telling my dad that when I grew up, I want to tell stories that inform public that this is exactly what's happening. You vote for these people, they go in office and this is how they reward you. This is what they do. Not one person in my family has ever been to college and I wanted to break that cycle, not for them, but more so for me. I know that wherever I go, I want to be comfortable, of course, but I also want to make sure that whatever I'm doing, I'm helping people and I'm impacting people. Whether it takes six months to do it or nine months, I feel like it's gonna be rewarding. It doesn't look pretty for college students. I feel like college used to be a place where, okay, we go to college, we get a degree. It's just sure thing that we're gonna get a job. But now it's like, if you don't know people, if you don't have connections, then you most certainly won't get a job. I also believe that as a journalist, I am able to tell stories in a way that AI can't. So I know that even though it looks scary right now, I know a job will always be out there for me just because of how flexible I am and how flexible I can be. The job market does not look good at all. And that's why I'm actually scared to just go right into it after I graduate. I want to go to grad school. I want to further my education because I think the best way to put yourself out there is just to further your education. Because if you just jump out there like that, you might just be eaten. I just remember being able to afford stuff, and now it's like I have to be stingy with my money. There's things that I want, but I can't get. It has to be a need for me to get it. If you don't have a side hustle, you're doing this economy, because one main job just can't do things. Things are just way too expensive right now for you to say, oh my God, I can live in America comfortable right now. I don't think anybody can do that right now.

Speaker 3:
[08:36] That was Alicia Robinson, graduating senior from Morgan State University. Tomorrow, we head to Arizona to speak with a student who isn't afraid of the AI boom. In New York, I'm Sabri Benishur with the Marketplace Morning Report. From APM, American Public Media.

Speaker 10:
[09:01] You may have learned recently just how far a barrel of oil has to travel before it makes it into your gas tank.

Speaker 7:
[09:07] And a lot has to happen to that oil before it even becomes gas that you can actually use.

Speaker 10:
[09:12] So this week on Million Basilian, Ryan and I venture on a road trip with stops in Texas and Dubai to learn all about oil and why the price of gas goes up and down.

Speaker 7:
[09:22] And we even meet Derek, an oil drill who knows a lot about the global economy.

Speaker 11:
[09:27] OPEC is a group of oil producing countries that work together to decide how much oil they're going to drill and release for sale. They can drive the price down by releasing a lot of oil.

Speaker 7:
[09:38] Listen to Million Basilian on your favorite podcast app.