the, telling you you re a victim and, you know, poor you. the other thing it s not addressing, by the way, ladies, is the underlying cost of higher education which is outrageous. and this is going to do nothing, forgiving loans, to bring those costs down. i love talking to young people who are so financially responsible as you. i hope the rest of your generation takes note, and hay certainly might just have to, because the supreme court has now saidst the unconstitution aal to forgive those unconstitutional to the forgive those loans. kiara, kate, thank you for joining us. thank you for having me. thank you. rachel: will? will: thank you, or rachel. mice job. we begin your headlines with this, if you re traveling this holiday weekend, you re going to have plenty of company, 43.2 million americans are expected to hit the road, jumping more than 2 from last year. aaa reports gas prices are down nearly 27%, currently at $3.54 per gallon. and here s a live look at lax airport where t
size of the economy. and that is despite the bipartisan debt ceiling deal which is expected to reduce federal deficits by 1.5 $1.5 trillion the next ten years. and looking at markets, asian markets finished mixed. european markets are higher. on wall street, stock in-geks futures are leaning higher. dow and s&p rose after major lenders cleared the stress test. and there was another round of strong economic data. the nasdaq slipped but on pace for the best first half of a year in history. up almost 30% this year. mortgage rates ticked up to 6.7% last week. and on inflation watch, gas prices fell a penny to $3.54. fed s preferred inflatin-sganlgn gauge due out this morning. and more than 4 million
week. the latest was this morning s chicago to denver with the first leg of my trip. i am now in san francisco and getting ready to drive at least six, seven hours. reporter: she s got company, a record 43 million americans are driving with gas averaging $3.54 a gallon, $1.30 cheaper than a year ago. on i-35 in texas, the hill family is headed to austin to float in the san marcos river. we want to make sure that our kids have a great summer. don t let the prices scare you. you only get these memories once. reporter: it is summertime even if the living isn t always easy. all right, tom, let s circle back to united airlines difficulties. the ceo is issuing a personal apology tonight. what is he saying? reporter: yeah, that s right. ceo scott kirby on wednesday night was stuck at newark airport with thousands of other passengers, could not get out. he couldn t even get a seat on the airline, so he jumped on a private plane and flew to denver, and now he s apologizing saying tha
thank you for joining us. let s get into the gas prices and where they can stand. if we pull this graphic up as it stands a gallon of gas in the u.s. $3.58 yesterday, $3.57. or we could go $3.54. obviously, not a big change, we are talking pennies but it is starting to tick up summer. where do you see these prices going in the coming months? i m afraid they will be going higher. perhaps a lot higher. if we look at the job the u.s. industry has done to keep prices under wraps, it is amazing. producing gasoline at a record pace. we have added refining capacity to keep up with demand but they are not getting any help on the way here at new regulations by the biden administration have closed inventory low and not able to build them up like they used to. if you look at gasoline inventory today in real terms the lowest level since 2016.
and lowes will report earnings before the opening bell and on inflation watch gas prices held steady at $3.54 a gallon. and the main event here for investors, the u.s. is a little more than a week away from defaulting on its debt which economists fear could have seismic implications in the global economy and your money. let s bring in doug flynn from flynn capital management. good morning, doug, nice to see you. good morning, how are you? i m fine and wondering if we should be just for getting the log into our 401(k) or if we need to take a look and get more conservative. walk us through what you think the possible scenarios are here. there is a couple. one is whether or not they will default and whether it will be a long term one or short term one. short term one, you can take your cues from what happened this 2011, the market will correct, but it will kind of work its way through and then