Wall Street Drops Slightly, Even As Oil Prices Rise
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iStock/Thinkstock(NEW YORK) — Wall Street dipped into negative territory late in the session on Tuesday, even though oil prices rose.
The Dow Jones Industrial Average closed the session Tuesday at 17,875.42, down 5.43 from its open.
The Nasdaq fell by 7.08 to a close of 4,910.23, while the S&P 500 was down by 4.29 to 2,076.33.
Oil prices rose Tuesday to $53 a barrel, but the Energy Department is forecasting the lowest summer gasoline prices in about six years. The agency is forecasting the national average to drop to $2.45 a gallon.
The Federal Reserve said on Tuesday that consumer borrowing expanded by 15 and a half billion in February, following a $10.8 billion gain in January, mostly in auto and student loans.
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