Price of gasoline in Maine falls 3 cents in week

AUGUSTA – Maine drivers are seeing lower prices at the pump again.

Price-monitoring website MaineGasPrices.com reports that the average retail price of a gallon of gas in the state has fallen more than 3 cents in the past week to an average of $3.64.

Nevertheless, Maine residents are still paying more than most Americans. Nationally, prices dropped nearly six cents per gallon in the past week to an average of $3.51.

Current prices in Maine are almost 15 cents higher than at the same time last year, but 31 cents per gallon lower than a month ago. 

Apple sells 3 million iPads since sales of Mini model

NEW YORK – Apple says it sold 3 million iPads of all kinds in the first three days it sold the new Mini model.

Apple started selling the Mini on Friday, starting at $329. It’s a third smaller than the full-size iPad.

The sales figure compares with 1.5 million iPads sold in the first three days after Apple launched the third-generation iPad in March and cut the price of the iPad 2.

The full-size iPad got an update Friday as well, with a faster processor and a better front-facing camera.

The launch encompassed 34 countries, including the United States, Japan, Germany and Britain. According to analyst Brian White at Topeka Capital Markets, the Mini model sold out at 60 percent of U.S. Apple stores.

Apple stock rose $7.82 to $584.62 Monday. 

Stocks manage slight gains on day before U.S. election

NEW YORK – On the day before the U.S. presidential election, stock indexes managed slight gains in thin trading.

After wavering between small gains and losses, the Dow Jones industrial average ended with a gain of 19.28 points to start the week, closing at 13,112.44 on Monday.

Uncertainty surrounding the election will prevent most investors from making any big moves before it’s over, said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab.

“I honestly think the markets are going to sit here and mark time,” Frederick said. “The markets have a tendency to trade sideways before big news events, and nothing is bigger than a presidential election.”

Frederick said he believes that no matter who wins, the stock market will likely surge once it’s over. But that’s assuming there’s a winner by Wednesday. If the election comes down to a thin margin in a swing state, the outcome could be delayed for days.

In other Monday trading, the Standard & Poor’s 500 index rose 3.06 points to 1,417.26, while the Nasdaq composite index climbed 17 points to 2,999.66. Just 2.9 billion shares were traded on the New York Stock Exchange, well below the recent average.

In the market for U.S. government debt, the yield on the 10-year Treasury note fell to 1.68 percent, down from 1.72 percent late Friday.

— From news service reports