indictment and other indictments to come, almost definitely in the georgia indictment. that s the news track that will happen on its own as far as what happens to donald trump. biden, there s an incredible story here, no matter how you tick it. gdp, manufacturing, jobs, unemployment, consumer sentiment, china. no matter how you slice it cooling inflation they have a great story. they d almost diminish their story by going, look at trump. look what s going on over there. this is one of the rare instances a campaign doesn t have to do negative advertising. doesn t have to put a dollar against it. tell the biden economic story. it is the compelling story. let the trump story be told on its own by news outlets. that will happen. i can t think going in once again, we are over a year out of a incumbent campaign, despite what the polls say at this point, in a better strategic place as far as where they are and where the opponent is.
the dow is up 11 days in a row, longest winning streak since back in 2017. you can credit stronger than expected corporate earnings, cooling inflation and still resilient consumer. next big events is the federal reserve interest rate decision on wednesday. and asian markets are mixed, but hang seng jumped 4%. china vowed to provide stimulus. on wall street, narrowly mixed here. nasdaq and s&p higher. and new report shows that morgan stanley raising its u.s. economic growth forecast for the year citing bidenomics unleashing energy in the u.s. economy. on inflation watch gas rose 4 cents overnight. and alphabet and microsoft will report earnings later today. and the federal reserve will also kick off its two day policy
been amazing. what s also been amazing is the resilience of e u.s. economy in the face of that. look at the stock market. the stock market you mentioned longest winning streak for the dow in more th s years. look at the market performance this year, you guys. just take in those numbers. last year waa disaster for investors. this year you re seeing a really strong bounce back. one of the reasons is more and more people are looking at stronger than expected corporate earnings, cooling inflation, still resilient job market and saying maybe we can get that soft landing in the economy. in fact, mgan stanley recently upgraded gdp forecast for this year to 1.3% from 0.6% which would suggest we will avoid a recession. and morgan stanley specifically saying that bidenomics and some of the biden industrial policy is helping here as well. so really at the beginning of the year people were saying when and not if there will be a recession. today they re saying, maybe we ll get past it. and that s c
Heightened apprehension and rethinking on the US dollar s role in the global economy are necessitated by factors endangering investor confidence, which prompted the search for alternative reserve currencies based on real assets.
boost the president s poll numbers. what a difference a year makes. at this point last summer, american hes ws were getting cr by 9.1% inflation, the worst in more than four decades. today that metric now stands at just 3%. the smallest annual increase in prices in more than two years. yes, that is still a bit too hot. it is above what economists consider healthy, but it is also a massive improvement. we ve now had a full year of cooling inflation. one of the biggest drivers lately is gas prices. if you recall last june gas prices hit record highs in the united states. the national average surged past $5 a gallon. but this june inflation report shows that gas prices have actually now plunged by almost 27% from a year ago. of course none of this means that inflation is totally cured. we ve seen rental and housing costs still go up rapidly.