"In the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices"
- Charles Plosser, Federal Reserve Bank of Philadelphia President
U.S. banks were closed on Monday in observance of Memorial Day.
Stocks closed lower on Friday. The Standard & Poor's 500 retreated 0.22%, or 2.86 points, to 1,317.82. The Dow Jones Industrial Average fell 0.60%, or 74.92 points, to 12,454.83. The Nasdaq Composite Index lost 0.07%, or 1.85 points, to 2,837.53.
"In the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices," said Charles Plosser, Federal Reserve Bank of Philadelphia President.
"Worries over Greece could lead to more global investment funds being parked in the U.S., boosting liquidity"
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