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editorial report. we hook ahead to 2024 and a new set of challenges and opportunities for the country. i m edward lawrence in this week for paul gigot, and we begin with the u.s. economy which defied expectations in 2023 as inflation fell and recession fierce faded. now the santa claus rally in the stock market giving us another record close this week for the dow jones industrial average and the federal reserve signal rate hikes are done and cuts could be in store for 2024. let s bring in jason trennert, he s the chairman and ceo of strategists and investment strategy firm. jason, let s start overall here, we get this. you know, overall we get some the contrarians won in 2023. so people were projecting the most predictive recession in history, and it didn t happen. so is the recession then off the table for 2024? edward, it probably is. i will say that the recession didn t happen in 2023 partly because we ran a budget deficit of close to 6% of gdp, $2 trillion at f ....
streak could be ending. meanwhile, the busy father s day and juneteenth holiday weekend was a nightmare for airline passengers. according to flight aware, more than 900 flights were canceled sunday across the u.s. since thursday there have been more than 4,000 flight cancellations, another 1,500 flights have already been canceled today. let s bring in cnn chief business correspondent and early start co-anchor christine romans. we were talking last week about a vibe shift and, man, does it feel like we are right there. it really does. the mighty american consumer, the backbone of the u.s. economy remains strong but how long that lasts in the face of decades high inflation, that s what experts are scouring the data for. now, gas prices have been a daily tax on families and sentiment. prices at the pump have stopped rising at least, the average price per gallon dipping below $5 to $4.98 but the busy summer travel season is about to start, that could push prices highe ....
£1. 6bn last year but does the buying the brand still make a difference . Ill meet a farmer from malawi to find out. In sport, Manchester United snatch victory from southampton in the efl cup final. The 3 2 win sanose mourinho become the first united manager to win a trophy in his first season with the club. And carol has the weather. Good morning. A day of sunshine and showers and be showers will be a sundry with hail and possible sleet and snow. Wherever you worry it will be windy. More details later in the programme. be windy. More details later in the programme. Wherever you are. Are. Good morning. First, our main story. The Oscars Ceremony has ended in confusion, after the wrong film was declared best picture. In a farcical ending, la la land was announced as the winner, before the award eventually went to moonlight. We were here at work. Extraordinary scenes as eve ....
As the cast and crew of both films realised what had happened. But it was moonlight, about a boy growing up in miami to a crack addicted mother, which in the end took the award for best film. Its Director Barryjenkins gave his reaction. The last 20 minutes of my life have been insane. I dont think my life could be changed any more dramatically. The early favourite to win best picture, la la land, will feel hard done by. But in the end the team behind it won six oscars including best actress and Best Director. Lets go live to hollywood and our entertainment correspondent Colin Patterson is on the red carpet at the after show Vanity Fair Party. Colin, colin, colin what a night. Colin, colin, colin whata night. I was listening to you on the radio when it all ....