hour of work. that s 40 plus% improvement. shannon: software restarted when he took office is chosen third incense account and out $3.69 since a gallon but we are still in less than two years and worse place. yes. it depends on what your benchmark is. so, if we were talking about a year ago or at its peak we had a barrel of oil of 120 a barrel. it is now i think 77 a barrel. we had gas north of $5.52 a gallon. now it s about $3.60 a gallon part we are moving in the right direction. i think that is the key thing with all of the stresses that american households have had to deal with the key factor behind bidenomics is not only are removing at the right direction, we are doing it with a real speed while maintaining a tight labor market. as you know i ve been in economist in this town for a bunch of years. i have never seen an economy where you get six points off of inflation, two thirds down
if no deal is reached by july 31st, the teamsters union which represents 340,000 u.p.s. workers has vowed to walk off the job. it would be america s biggest strike in 60 years. more on that in just a moment. a look at the markets, arabian marketing finished mixed. hang seng 2% lower driven by european stocks. european markets are mixed. wall street, futures leaning higher here. the s&p and dow finished higher last week. the dow notching ten straight days of gains. that s not happened since 2017. the nasdaq fell through a falloff of tesla and netflix. goods prices rose a penny $3.60. considerably lower than a year ago. it s a jam-packed summer week for investors be the economic calendar is full here. the fed is expected to raise interest rates this week. and big names in tech reporting earning, meta, microsoft, amazon, alpha best docket.
hour of work. that s 40 plus% improvement. shannon: software restarted when he took office is chosen third incense account and out $3.69 since a gallon but we are still in less than two years and worse place. yes. it depends on what your benchmark is. so, if we were talking about a year ago or at its peak we had a barrel of oil of 120 a barrel. it is now i think 77 a barrel. we had gas north of $5.52 a gallon. now it s about $3.60 a gallon part we are moving in the right direction. i think that is the key thing with all of the stresses that american households have had to deal with the key factor behind bidenomics is not only are removing at the right direction, we are doing it with a real speed while maintaining a tight labor market. as you know i ve been in economist in this town for a bunch of years. i have never seen an economy where you get six points off of inflation, two thirds down
so many americans keep spending, big ticket buys like cars. may be encouraged by plunging gas prices. this time last year gas averaged above $5 a gallon, a record. this weekend, about $3.60. investors also buying. the s&p 500 and nasdaq have hit their highest levels since april of last year. but the stock market is not the economy. which brings us back to westfield mall s drama, what it represents. banks have about $3 trillion outstanding in commercial real estate loans. more than half that will come up for refinancing this summer. and at today s higher rates, many more borrowers may just walk away. mark strassmann, cbs news, atlanta. west virginia basketball coach bob huggins has resigned. it happened saturday evening following his arrest on suspicion of drunk driving friday night. huggins is not new to controversy. he was suspended for three games
long road trip. check your tire tread. and inflation. make sure your battery has a good charge. make sure your fluid levels are topped off. during this memorial day weekend, aaa anticipates coming to the road side rescue of more than 460,000 stranded drivers. so that is my nightmare, flat tire, or low tire pressure here on the 405. we got to talk about gas prices though, too. they are still elevated. and historical terms. but they have come down from where they were. last year, we had gas prices above $4. we checked in with the national average, it is sitting around $3.60 this morning. but if you are here in california, if you re in alaska, new jersey, new york, florida, those are the states where gas prices have come down the most. in all of those states from where we were this time last year. finally, we spoke with our friends from gas buddy, and they say good news for the rest of