(NEW YORK) — It certainly wasn’t a stellar day on Wall Street, but the reaction to elections in Europe was rather muted.
The Dow closed down 29.74 points, while the S&P and NASDAQ ended the day up slightly.
Market watchers are speculating that Francois Hollande’s presidential win in France was widely expected, and the anti-austerity backlash isn’t exactly a surprise.
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.
Meanwhile, the average price of a gallon of regular gas is $3.79, down 4 cents from a week ago, according to the Department of Energy. 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 Monday, down 55 cents. Worries about global growth seem to be pushing prices down.
Copyright 2012 ABC News Radio
Aaron Smith, CNN Newswire
Matt Egan, CNN
Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN
Jeff Peterson, Deseret News