Stocks Close Up on Election Eve
(NEW YORK) — Wall Street trading held steady in the positive on the day before the presidential election.
The Dow Jones Industrial Average ended this Election Eve up 19 points to 13,112 after closing Friday with its largest one-day loss since Oct. 23. The S&P finished the day up three points at 1,417. The Nasdaq climbed 17 points to a hair under 3,000.
One analyst says the investors are waiting to see who is elected president.
“The anticipation of the election, I think, got people in wait-and-see mode for the day,” said Omar Aguilar, chief investment officer at Charles Schwab Investment Management, according to the Wall Street Journal. Polls show President Obama and Mitt Romney in a dead heat.
Meanwhile, the price of oil rose slightly Monday. Traders are trying to gauge how much demand for oil has dropped in the storm-stricken Northeast.
Gas prices across the country fell $0.07 in the last week, and prices at the pump should fall further in the coming weeks.
New York’s attorney general is now investigating more than 500 reports of price gouging from superstorm Sandy. He says more than 300 came in over the weekend. Most were about the price at the gas pump, but some also complained they were charged $10 for a box of matches and $7 for a loaf of bread.
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