Wall Street Returns Last Week’s Gains As Gas Prices Rise
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tarabird/iStock/Thinkstock(NEW YORK) — Wall Street gave back some of the gains it posted near the end of last week as oil prices rose.
The Dow Jones Industrial Average dropped to 18,105.17, losing 85.94 from its open.
The Nasdaq lost 9.98 to a close of 4,993.57, while the S&P 500 slid 10.77 lower to end the session at 2,105.33.
The national average cost of a gallon of gasoline is now $2.69, the U.S. Energy Information Administration said Monday, nearly three cents higher than last week. Still, that figure is nearly 10 cents lower than the same time last year.
Volvo announced Monday it would build a new auto plant in South Carolina that could eventually create 4,000 jobs. The plant is also expected to manufacture 100,000 vehicles each year.
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