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Is that unlike many other market sc scares in the last few decades, the fed does not have the markets back here. the fed is probably not going to be able to lower interest rates anytime soon. that means they re not coming to the rescue. that is not sitting well with investors. i think we should point out that there are some strong points about the u.s. economy. unemployment is very low. people are shopping. companies have lots of money on their balance sheet. they re in pretty healthy conditions, so you know, there is a risk of this becoming a self-fu self-fulfilling prophesy, victor, where we sort of scare ourselves into a recession, and the stock market could be the trigger. hopefully that is not the case here, but it is worth noting that there are some strong points in the economy right now. certainly important to balance the picture here. let s talk about gas prices. another record high today. an increase, but not a leap today. right, the national average at $4.59 a gallon, tha ....
Of a funnel not a glass. i ll play along. joe concha lit the internet on fire, he derided me saying you cannot have pizza with wine. what do you say. i had both during the last break. wine with breakfast. cheers to that, michelle. sorry about that, joe concha. have a great weekend, everyone. thanks to everyone for watching. now here is america reports . john: dow on pace for the eighth straight losing week, the u.s. economy is barrelling toward a recession, economists warn. stocks down sharply this afternoon. gillian: and fears on wall street as gas prices set another new record high, 4.59. energy ....
Well, you re not alone as gas prices are an all-time high. the national average stands the $4.59, $1.55 more than it was a year ago. while gas prices are up, stocks are down. the weakenedded in the red after flirting with a bear market, despite spocks making a late-day rally, all closed down on the week. the tech-heavy nasdaq posted its seventh straight week of losses. there is one bright spot. a bloomberg report shows the u.s. outpacing china with g.d.p. fears of a recession loom over the nation. we have a lot of news to quiet to tonight, and cbs errol barnett will start us off. good evening, errol. reporter: good evening, norah. plenty of americans are seeing red tonight and feeling the financial pressure of an economy ....
The justices. can you imagine the hell that breaks out in front of their homes if they overturn john: because it had been leaked, maybe they should get it out quickly so the people stop protesting, but sounding more and more like it might ramble on. gillian: a lot of these folks are not wealthy, they are not particularly young, we should be protecting them. john: we should, no question about that. we are a week away from the memorial day weekend and the unofficial kick-off to the summer travel season and gas prices are higher than ever. the national average now 4.59 for regular. up 2.20, nearly double the cost since president biden s first day in office. fox business contributor phil flynn, analyst for the price future group, he joins us. put up on the screen what the price of gasoline has been doing, 4.59, a steady march up, 4.58 yesterday and then a year ....
Questions if both were too slow to act. as mentioned, another tough day on wall street. the dow lost 237. the s&p 500 fell 23. the nasdaq dropped 30. today another new high for gasoline prices with the national average reaching $4.59 per gallon. the rising rates forcing some to cancel vacation plans this summer. we will address these issues and more with senate minority leader membership mcconnell in just a few moments. first, fox business correspondent grady trimble is in chicago where gas prices are soaring. good evening, grady. good evening, bret. on wall street, it wasn t as bad as yesterday but all three of the major indexes are down big this week. the nasdaq getting hit the hardest. dropping more than 3.5%. investors are worried rising costs and falling consumer demand are eating into company s bottom lines especially after disappointing earnings from two of the country s largest retailers. ....