is having the best month since the year 1976 when gerald ford was president around the bee gees were topping the charts. the dow is up 14.4% in october on this final trading day of the month. the s&p and nasdaq currently on track to snap a two-month losing streak. right now on wall street, stock index futures you can see them, we ll pull them up, this is tokyo hong kong there you go, down just a little bit. looking at markets around the rld wo, mixed performance here. european shares mixed as well. october inflation figures from the eurozone due out today. marriott, uber, cvs and hyatt among those set to release quarterly numbers. federal reserve meets tuesday and wednesday. fed chair powell is expected to deliver another whooping interest hike. gas prices now sitting at 3.76 a gallon. it s all about the fed this week. let s bring in chief economist. good morning, mark. nice to see you.
people but himself. watch. they all want to keep ghastly prices low. the threat of the climate crisis can t wait any longer. most economists, including me, believe we ll be transitory. president biden: economists call all these things transitory effects. i will work like the devil to bring gas prices down. impediment to production in the united states called the bankers on wall street. it is largely the fault of putin. republican wins, inflation will get worse, that simple. dana: we can show you this, gas prices now versus when president biden took office is what people are feeling. 3.76 per gallon nationwide average. it was $2.39 when he took office. the democrats tried to do in the last few weeks is say if the republicans win, they will cut social security and medicare. which doesn t have a lot of teeth because you don t have republicans campaigning on that. no, not at all.
about the average price nationwide was over $5 a gallon. today the average price for a gallon of gas is $3.76. that s adding up to real savings for american families. the difference between the prices. and this difference makes a difference in the difficult time americans across the country have stepped up and to do the right thing. but not everyone stepped up. the oil industry has not. it s not met its commitment to invest in america and unvest in the american people. one by one they reported record profits. every company is entitled to that, a fair return for work they do. it means but i mean profits so high it s hard to believe. the second quarter of the profits were really high. the third quarter, last week shell announced it made $9.5 billion in profits for the
petroleum oil reserve. they re down 26% and falling for the best part of the last three weeks. in june the average price, not the most common price, the average price nationwide was over $5 a gallon. today the average price is $3.76. that is adding up to real savings for american families. the difference between those prices. this difference makes a difference in a difficult time. americans across the country have stepped up to do the right thing. not everyone has stepped up. the oil industry has not. has not met its commitment to invest in american support of the american people. one by one major oil company
senator chris coons on fox news sunday. the folks who i ve been campaigning with are running on our record. chair mcdaniels just said we re running away from it, but we re running on it because we ve got real accomplishments to point to. reporter: inflation s been over 7.5% all year, mike, numbers in the seen in this country in 40 years. inflation peaked in june when gas was over $5 a gallon. the numbers have come down a little since, gas now $3.76 a gallon, still about 60% higher than when biden was sworn in. the latest inflation data says inflation is now at 8.2%, it was only 1.4% when bidenning took office. colorado s one of the states republicans are looking for an upset pick-up. we re dead even with the independents, that s who matters here in colorado. 45% of our electorate is independents. reporter: the wall street journal says that economists think there s a 6 if 3% of a recession in the next 123