(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
Susan Scutti, CNN
Julia Horowitz, CNN