Recession woes drive oil down
U.S. crude oil fell over 9% to the $88 per barrel level as recession forecasts rise, including the Federal Reserve Bank of Atlanta’s GDPNow which is currently predicting growth in the 2Q will fall 2.1%, likely confirming a recession.
Nasdaq curbs losses
TSA hits pandemic-era record over July 4 weekend
The Transportation Security Administration (TSA) screened more than 9 million travelers between Thursday and Sunday.
Through Monday, TSA officers screened about 11.3 millionMore than 2.49 million individuals headed to airports on Friday – a pandemic-era record.
U.S. may be in a recession
Dow sinks 500+ points, oil below $100 per barrel
Dow Jones Averages.
Investors continued to sell U.S. stocks as they returned from the long July 4th holiday week with all three of the major benchmark averages down over 1% in early trading ahead of Friday’s widely watched employment report for June. In commodities, oil hovered at $91 per barrel in a sharp off nearly 6% in today’s session.
Gas prices continue slow descent, as national average falls to $4.80
The price of gas continues to fall slowly since the national average for regular gasoline crossed $5.00 per gallon last month.
The figure was the largest recorded gas price since the AAA motor group began tracking data in 2000.
As of Tuesday morning, the price of a gallon of regular gas hit $4.80, an 80 cents drop from a week ago.
Gas is still well above its July 2021 price, when a gallon of gas averaged $3.13, according to the AAA.
Bitcoin dips under $20,000
Cryptocurrency prices initially fell Tuesday morning as Bitcoin, Ethereum and Dogecoin were all in negative territory.
At nearly 5 a.m. ET, Bitcoin was trading at about $19,815 (-2.17%), down approximately $440. For the week, Bitcoin was down nearly 2.4%. For the month, Bitcoin was down approximately 32%.