here. the dow closed up 79 points, six day row of gains. that hasn t happened since may of last year and the s&p closed up half a percent and the nasdaq is up 1.1%. the united technologies fell 3.1% after the deal to merge with raytheon. president donald trump called in to cnbc and he mused that the merger can kill competition and he threatened tariffs on $300 billion of chinese imports if president xi does not meet with him at the g20 in osaka. gas prices are dropping. u.s. oil production on track for a record 13.4 million barrels a day at the end of the year. opec is scaling back the output as the cartel tried to prop prices back up. lower gas prices right now. the average gallon is $2.73. we ll be right back. the water. the exercise. the fiber.
i politely disagree. we took the green new deal seriously as a policy proposal and do what we do with any policy proposal. we looked at the specific projects they had included in the green new deal. whether a transportation system. electricity grid powered by renewables, guaranteed jobs that include paid family leave, retirement benefits, health benefits, paid vacations. a variety of things that you could then go to the data and ask how much would this cost? and it turns out those are some fairly large numbers to receive the least. neil: for the low carbon electricity grid 5.4 trillion. transportation system without the jets and all up to 2.73 and guaranteed jobs, i don t know how that works out. it is a wide range from 7 to 44 trillion. you can see a little bit what senator markey is getting there.
great economic potential, donald trump tweeting congratulations for brazil s new president on his inauguration. the conservative brazilian dubbed the trump of the tropics replying, quote, dear mister president, i truly appreciate your words of encouragement, together in a god s protection we shall bring prosperity and progress to our people. rob: in a few hours wall street will open for its first day of 2019 after a rough end to 2018. us stocks ending with their worst performance since the 2008 financial crisis, uncertainty with the federal reserve and interest rates between the united states and china. the president remaining optimistic, lower gas prices in the new year. that get the economy running. he tweeted gas prices are low and expected to go down this year, this will be good. national average is dropping from $2.73 from $2.70.
sandra: they ve been coming down. the average is $2.73 at the pump and that is down from $2.91 one month ago. that s almost a 20 cent drop. reporter: down 20%. it always goes down slower than they go up. but it s good for the consumer. it will be range-bound there. the bigger picture is the idea we control our destiny when it comes to this and it s really important. obviously again it means jobs and economic security. it was going into the hands people we don t want it to be. bill: we control our own destiny. oil and gas extraction and unemployment is 1.2%. in june of 2000 it was 11.5%. anybody anyone in that sector who wants a job has a job.
vacation, they will face hurdles. executives from facebook and twitter will face a grilling from lawmakers this week on election interference and how the companies are fighting misinformation. trade negotiations continue and a monthly jobs report on friday. millions of americans hitting the road wrapping up the summer of the highest gas prices we have seen in years. the average price was $2.73 per gallon over the past three mu . mont months. the highest since 2014. don t expect relief. drivers paying $2.84 a gallon. 20 cents higher than last year. americans spend $1 billion per day on gas this summer. i know everybody is wondering why are you paying more? blame the rising oil prices. crude oil has the biggest impact on what you pay at the pump. u.s. crude is 20% higher this year. for years, oil producing