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Major stock indexes dropped Monday but Mark Hamrick, senior economic analyst at Bankrate, says the market is still rallying from losses earlier in the year and discusses why a recent inflation expectations report could be a good sign for the Federal Reserve.
In MoneyWatch, all three major indexes recovered some lost ground Thursday. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, joins CBS News to discuss today's market drivers and the impact the Russian invasion of Ukraine is having on the global supply chain.
Gas prices have reached a new record high, with the national average at $4.59 per gallon. Kimberly Palmer, senior writer with NerdWallet and a personal and family finance expert, joined CBS News with some tips on how to save some cash at the pump this summer.
President Biden's proposed federal gas tax holiday could lower prices at the pump by as much as 18 cents per gallon, but that's not a guarantee. Katia Dmitrieva, an economics reporter for Bloomberg News, joined CBS News to discuss the proposal.
In MoneyWatch, the markets were closed today but it was a tough week for investors on Wall Street. Steve Odland, the CEO of the Conference Board, joins CBS News to discuss how the recent inflation report is impacting the markets.
President Biden vowed the U.S. and Canada will help provide more wheat to Europe to alleviate the impact of sanctions against Russia for its war in Ukraine. John LaForge, head of real asset strategy at Wells Fargo Investment Institute, joined CBS News after the closing bell on the New York Stock Exchange to discuss that and the effects of the U.S. ban on Russian oil.
Oil prices fell under $100 a barrel Tuesday. Tamar Essner, a principal at Vectis Energy Partners, joined CBS News to discuss.
Average hourly wages have increased by more than 5% over the past year, but the inflation has grown by nearly 8% over that same period. Laura Veldkamp, a professor of finance and economics at Columbia Business School, spoke with CBS News' Tony Dokoupil and Lilia Luciano about how rising prices are outpacing wage increases nationwide.
Russia's war in Ukraine is causing a ripple effect of economic issues around the world, forcing gas prices up and stock numbers down. Paul Sankey, lead analyst at Sankey Research, joins CBS News at closing bell on the New York Stock Exchange to break down the possible solutions to the oil crisis.
Americans are feeling the impact of skyrocketing gas prices nationwide. AAA reports the national average cost of a gallon of gas is up to $4.37, four cents higher than the previous record in March. Robert Sinclair, the senior manager of public affairs for AAA Northeast, joins CBS News with more.
The Biden administration is exploring ways to try to lower gas prices, as some Democrats in Congress call for new taxes on oil and gas producers. Jeffrey Stein, White House economics reporter at The Washington Post, joins CBS News to discuss the issue.
As gas prices rise nationwide, Nevada drivers are paying well over $5 a gallon, with the current state average at $5.56. Mick Akers, a transportation reporter for the Las Vegas Review Journal, joins Lana Zak on CBS News to discuss the impact.
Stock markets saw big losses Monday as gas prices continue to rise and Russia's invasion of Ukraine sparks the potential for even more economic fallout. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, joins CBS News to discuss the ramifications.
National average gas prices reached a new record high on Memorial Day at over $4.61 per gallon. In order to budget for higher prices at the pump, many Americans are cutting back on other spending. Bank of America Institute's senior economist David Tinsley explains the relationship between gas prices and consumer spending and which groups are making the biggest cutbacks.
Gas prices are soaring to record highs as inflation hits its highest level in 40 years. The Consumer Price Index jumped 0.8% in February, marking a 7.9% increase over the past year. CBS News transportation correspondent Errol Barnett has more on the rising gas prices, and then Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program during the Obama administration, joins CBS News to discuss the impact on American families.
Several multinational corporations are pulling out or suspending business in Russia following its invasion of Ukraine. John Quelch, dean of the Herbert Business School at the University of Miami, spoke with CBS News' Tanya Rivero and Jericka Duncan about how the latest sanctions are impacting the Russian economy, and what these businesses' withdrawal means for the country.
The Dow Jones closed down by nearly 1.5% Wednesday as oil prices climbed during the day, while China's stock markets are slowly recovering after tanking earlier this month. Axios business reporter Hope King joins CBS News to discuss today's market drivers and how China is still producing the world's most billionaires despite its nationwide COVID lockdowns and economic struggles.
Congress is on the verge of passing a spending package for Ukraine, while gas prices continuing to rise. Washington Post congressional reporter Marianna Sotomayor and CBS News correspondent Steve Dorsey join "Red & Blue" with the latest.
The war in Ukraine is having economic fallout in the form of higher gas prices and stock market volatility in the United States. CBS News' Michael George reports, and then Brooke Masters, U.S. investment and industry editor at the Financial Times, joins "Red & Blue" to discuss.
The inflation rate hit a 40-year record in June, with the consumer price index increasing by 9.1% over the last 12 months, according to the U.S. Department of Labor. Jeff Mason, a White House correspondent for Reuters, and Colby Smith, a U.S. economics editor for the Financial Times, join "Red and Blue" to discuss the June inflation report.
A recent CBS News poll shows that most Americans feel the economy should be the government's top priority. CBS News political reporter Caitlin Huey-Burns and Washington Post White House reporter Tyler Pager join "Red and Blue" to discuss that and other top political stories of the day.
Brooke Masters, U.S. investment and industry editor at the Financial Times, joins CBS News' "Red & Blue" to discuss how Russia's invasion of Ukraine is impacting the U.S. economy, including gas prices.
In a letter to seven oil companies, President Biden asked for more gas to address high gas prices. The senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, Frank Macchiarola, joins "Red and Blue" to discuss the Biden administration's approach to gas prices.
What possible actions are on the table for President Biden to address gun violence? CBS News chief White House correspondent Nancy Cordes joins "Red & Blue" to discuss this, plus rising inflation and record-high gas prices.
President Biden is considering a federal gas tax holiday, which could save consumers money at the pump amid rising inflation and gas prices. CBS News chief White House correspondent Nancy Cordes joins "Red and Blue" to discuss the administration's approach to the economy. Then, CBS News congressional correspondent Scott MacFarlane breaks down the latest from the January 6 committee.
President Trump announced the news on Truth Social hours after meeting with Russian president Vladimir Putin in Alaska.
Erin is the first hurricane to develop over the Atlantic this year, and meteorologists are closely tracking its path and forecast.
Attorney General Pam Bondi issued an order Thursday that amounted to a reversal of "sanctuary" policies in D.C. The District sued over the order Friday.
Environmental groups and independent scientists are criticizing a report assembled by a small team of well-known climate skeptics selected by Energy Secretary Chris Wright.
Both President Trump and Russian President Vladimir Putin delivered brief remarks, but took no questions, in Alaska.
Democrats unveiled a proposal Friday that could give California's dominant political party an additional five U.S. House seats in a bid to win the fight to control Congress next year.
Prosecutors allege that in October 2021, Mayor LaToya Cantrell and Jeffrey Vappie, her bodyguard, developed a "personal, intimate relationship."
An internal review reveals that a former police chief, known as the "Devil in the Ozarks," spent months planning his escape from an Arkansas prison.
Former Secretary of State Hillary Clinton said if President Trump is the architect of a deal to end the war in Ukraine without Kyiv ceding land to Russia, "I'd nominate him for a Nobel Peace Prize."