The highest prices can be found in Hawaii, where prices are substantially higher than the national average, at $5.301 per gallon. This is significantly lower than the all-time high of $5.016 per gallon on June 14. The national average for regular gas was last $3.764 per gallon, down from yesterday’s reading of $3.779. The commodity’s downtrend has led to lower gas prices across the country. Nevertheless, the decrease in oil prices is good news for consumers.

However, WTI crude oil is down 5.2% as the market’s fear of a recession continues to outweigh other developments in the oil industry. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq are up 1.6%, 2%, and 2.3%, respectively. Stocks are in the green heading into the final 30 minutes of trading.

In the previous quarter, the estimate started off positive and eventually ended up correctly estimating a GDP decline by the end of Q2.īecause of this, investors should invest carefully, as we are not in the clear just yet. Therefore, it will be interesting to see how the estimate changes, going forward. The “nowcast” becomes more accurate as more economic data is released throughout the quarter. This is down considerably from the previous reading of 2.59%. Currently, it estimates that the economy will see an annualized expansion of 1.36% in the third quarter after experiencing two consecutive quarters of decline. The Atlanta Federal Reserve updated its GDPNow reading, which allows it to estimate GDP growth in real-time. The negative spread indicates that investors still have fears of a recession. This brings the spread between them to -16.6 basis points. Similarly, the Two-Year Treasury yield also decreased, as it hovers around 3.443%. 10-Year Treasury yield decreased to 3.277%, a decrease of more than seven basis points. In addition, WTI crude oil lost 6%, reaching $81.66 per barrel.įurthermore, the U.S. Conversely, the utilities sector was the session’s leader, with a gain of 3.13%. The energy sector was the session’s laggard, as it fell by 1.16%. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 increased by 1.4%, 1.83%, and 2.07%, respectively. Stock indices finished today’s trading session in the green.

Dow jones industrial average compare