Economic Indicators

Energy industry groups filed a federal lawsuit against the Biden administration Monday evening, arguing it has violated federal statute requiring quarterly oil and gas lease sales.

The decision from OPEC+ to maintain output cuts of two million barrels per day could impact the decline in gas prices, which is an average of $3.40 per gallon.

The Los Angeles City Council on Friday voted to ban oil and gas wells within city limits and phase out existing wells over the next 20 years.

Austan Goolsbee, the newly named Federal Reserve Bank of Chicago president, has disagreed with the White House on a number of key economic issues.

The November jobs report out Friday morning will shed light on the health of the U.S. labor market, which is rapidly deteriorating as the Fed raises interest rates.

Inflation could see a "pretty significant" decline next year, but New York Fed President John Williams said interest rates still need to rise further.

Over two dozen companies across a variety of sectors have tested out a four-day work week and have seen strong performance and productivity within workers since doing so.

The PMMS 30-year mortgage rate released by Freddie Mac dropped for the third week in a row after reaching a 20-year high this year caused by Fed rate hikes.

Inflationary pressures in the economy remain strong, a worrisome sign for the Federal Reserve as it tries to crush runaway prices without triggering a recession.

Amazon CEO Andy Jassy said the company has been trying to "streamline" costs while also trying to invest in areas they they believe will impact the company in the long term.

The Labor Department reported on Tuesday that there were 10.3 million job openings at the end of September, a sign the labor market is starting to soften.

DoorDash announced that it will lay off more than 1,200 employees in order to reduce operating expenses that, "if left unabated – would continue to outgrow our revenue."

Mortgage rates that have doubled over the past year are sapping demand from the housing market, which saw prices decline for the third month in September.

New York Federal Reserve President John Williams expects inflation to remain elevated in 2024, signaling that interest rates may remain high for "some time."

This week will see Cyber Monday as well as retailers earnings reports. It will also see Fed discussions as the country continues to worry about inflation.

The U.S. government has awarded Chevron Corp. an expanded license to import oil from Venezuela following talks between the socialist Maduro regime and opposition leaders.

Gas prices are sitting around $3.60 per gallon, the highest ever recorded price for Thanksgiving since AAA starting tracking this data for over two decades.

Sheetz is reducing the price of gas to $1.99 a gallon ahead of Thanksgiving from Nov. 21-28 at 368 stores that offer the Unleaded 88.

Mortgage rates fell for the second week in a row, despite the Fed Reserve's hawkishness with the 30-year fixed rate averaging 6.58%, down from 6.61% last week

The White House failed to mention key details about inflation and gas prices on a document it issued listing President Biden's top accomplishments.