U.S. Stock Markets End Day Mixed, Gas Prices Down

May 7, 2012 5:02pm

It certainly wasn’t stellar day on Wall Street but the reaction to recent elections in Europe was rather muted.

The Dow Jones Industrial Average closed down 29.74 points, while the S&P and NASDAQ ended the day up slightly.

Market watchers are speculating that Socialist Party candidate Francois Hollande’s presidential win in France over incumbent Nicolas Sarkozy was widely expected, and the anti-austerity backlash isn’t exactly a surprise.   Hollande is France’s first Socialist president in 17 years.

Some investors are also hoping that a growth agenda to go with austerity measures may end up being a bit of good news for Europe.

That said, markets could be giving Hollande and the entire eurozone leadership a reprieve to see how they deal with the latest chapter in the relentless economic crisis.

 

CLOSE

POINT CHANGE

% CHANGE

Dow

13,008.53

-29.74

-0.23%

Nasdaq

2,957.76

1.42

0.05%

S&P 500

1,369.58

0.48

0.04%

 

The average price of a gallon of regular gas is $3.79, down 4 cents from a week ago, the Department of Energy reported late Monday.  This price is also down 18 cents from a year ago.

The most expensive gas in the country is on the West Coast, where the average price for a gallon of regular is $4.14. The least expensive gas is on the Gulf Coast, with the average price for a gallon of regular at $3.62.

Crude oil prices are also continuing their downward slide.  Oil settled at $97.94 in New York trading today, down 55 cents.  Worries about global growth seem to be pushing prices down.

 

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