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!