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From $3.20 a gallon a month ago. state of inflation mean for then is out stripping wages in most n la, phoenix and seattle wage gry inflation rates up to 9.9% like, the question is though, how muco despite suggestions that those e already peaked earlier this yea. >> you and i laugh when we see d outside it's 5 bucks. $3.50 whe. cell phone video evidence if the crime? is right before his. let us know what you think on tw you have already voted, at trac.

Higher, investors are waiting a european central bank decision. and bank of enfwland also expected to raise rates for the tenth time in a row. stock futures are narrowly mixed after the fed decision to slow interest rate hikes. dow reversed a 500 point drop earlier in the day. fed approved a 25 basis point hike a sign that cooling inflation may finally be working. and inflation watch, gas prices holding steady overnight $3.50 a gallon. meta stock is a big mover overnight, shares rocketing nearly 20% higher in after hours trading, the third straight quarterly decline in revenue the compan...

Projects that may or may not pan out. they want them to reward shareholders with buybacks and big oil is certainly listening. one other important factor here, this is a notoriously boom to bust industry when times are bad, they're really bad. exxon lost $22.4 billion in 2020. some companies went out of business. but, kasie, clearly these latest numbers show that boom times are back in big oil. >> they certainly are. and just briefly, gas prices have been creeping back up. how bad are they getting? why are they going up under these circumstances? >> look at this. gas prices are ticking back up ...

Industry. when things are bad, they're really bad. i mean, these companies lost a lot of money in 2020, but clearly, they're making a lot right now and meanwhile, you're seeing gas prices tick higher, $3.50 a gallon. well below the peak from last year, but we need to keep an eye on gas prices. >> maybe they can spread some of the wealth. >> maybe. >> ever think of that? hmm. matt, thank you. all right, russian air strikes targeted kramatorsk today, destroying neighborhoods and killing several people. cnn was on the ground when the missiles hit. that's ahead. so to help you remember that libe...

Leaning lower, but gains on tuesday. the s&p 500 rose 1.5%, dow rising almost 400 points. and for the month the dow gained nearly 3%, s&p up more than 6%. and federal reserve is expected to raise interest rates today by 25 basis points, that would be the smallest rate hike since last mar. meta reports after the bell today. and gas prices a penny $3.50 a . let's bring in our chief economist from wells fargo. consumer price index improving a bit, but if you drill down even further, the three month annualized percent change in the consumer price index, that looks like it is back to the fed's infl...