Fox Means Business: June 12

Monday's business headlines.

Nothing is holding back the Dow right now. The Blue Chips was up 89 points on Friday, closing at its eighteenth record high this year. But the tech-heavy NASDAQ did drop nearly two percent on Friday.

Meantime, drivers are getting a break at the pump. The national average for regular unleaded gas dropped a bit. A gallon now costs $2.35. That’s just about the same price it was this time last year.

This might be a big reason why: Oil prices fell for a third straight week, now below $46 a barrel. That’s a 15 percent drop from the start of the year.

And with Father’s Day a little more than a week away, Dad could be in store for a big day of presents! According to the National Retail Federation, Americans plan on spending $15.5 billion on Father’s Day gifts this year. That’s a record. But that’s still not close to the amount we spend on moms – this year topped $23 billion!

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