fears on wall street heading into monday about what new terrace will calm and possibly put the brakes on the roaring u.s. economy. the dow on friday fell 85 points. nasdaq 15, s&p 500 down. this comes after tariffs of 24 percent on $50 billion of products in chinese goods. including but not limited to solar panels, washing machines, steel and aluminum. the list goes on and on. here todiscuss , gary is with us. good to see you always. help me understand this because this is an important point. you are overseas. people that talk about u.s. tariffs and this idea of the u.s. becoming more protectionist in its trade policies?
markets. the dow not doing well, down about 28 points, 30 points. now, that is a tiny percentage of the total, frankly. s&p 500 down, nasdaq up a little bit. what s going on, the insurance stocks are getting hammered, particularly the ones that are really exposed in florida. progressive down 4%. travelers down 4.5%. allstate, i m naming names i know you know, down 4% as well. a lot going on there. i want to share with you, kim bondy, florida s a.g., attorney general, is just waiting to out some of these people. here s what she had to say, i think we have the sound. chevron if you are watching me right now, you need to call us and tell us why your prices are inflated in south florida. in tallahassee, they re not. in tampa, they re not. in south florida, they re high. there s no excuse for that. no excuse for that, what she said. i have to tell you, chevron came back and said, we re not doing this. remember, we have third party operators. doesn t it sound like amazon?
markets, tailspin yesterday. the dow downward of 200 points but an after rally shaved losses to 51. that s pretty impress siff, down 200 and then up 51. and the s&p 500 down, and prices in oil have fallen nearly 40 bucks in the june high market. the energy department tuesday again slashed its prediction for new year s next year s average gas price. the new cost, the government says $2.60. the lowest since 2009. if it happens it will save drivers $100 billion next year. not each driver? not each driver. all together. gas prices are $2.64 down a dollar from last summer. wow. you hear about congress that
saw the selloff worsen a little bit. still not near the lows of the overnight session. we have been down as much as 300 points. we have lost about 30 points in the dow futures since we opened this show. as you can see that s just under a 2 percent drop there. nasdaq down 40 points s&p 500 down. oil is down 2 and a half dollars. we continue to see the flight to safety big buying in gold. we are $8 shy of hitting $1,700 and now we are up more than 40 bucks there. big buying in the precious meta metals. dick lar ken want to go to you right now. worked at s&p for a long time. treasury secretary saying s&p has terrible judgment incapable of managing the country s finances. s&p does a good job.
by .5%, andrew. so seems to be a down day right across the world. the u.s. markets open today after a three-day holiday. and that s how they re going to open at the moment, at least. that s what the futures look like, down by more than 1% for the dow, .5% for the nasdaq and .6 for the s&p 500. interestingly, this time yesterday, they would just about break even. but as the violence grows in libya, investors are becoming more nervous. certainly the oil price continues to spike, as well. meanwhile in the middle east, markets continue to lose ground. dubai s financial index down over 1.7%, kuwait .25%, asriel sharon emily? well, andrew, bahrain could be approaching a pivotal and perilous turning point.