Authors: Carmen Cox
(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, gas prices dropped 4 more cents, with the national average dipping to $3.79. Crude oil prices fell 0.6 percent to $97.94 a barrel.
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