US Stock Markets End the Day Mixed; Gas Prices Lower

Business

0  Updated at 3:07 pm, May 7th, 2012 By: ABC Digital
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Hemera/Thinkstock(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