Business

NEW SMYRNA BEACH -- A gallon of regular unleaded gasoline is now under $2 a gallon at most stations in Southeast Volusia, cheaper than a gallon of milk or a pack of cigarettes.

Still, motor vehicles aren't lining up at the pumps.

April Brown had the pumps all to herself this afternoon when she filled her Mercury Grand Marquis for $40. Back in July, that same tank fill-up would have cost her $80 when a gallon of unleaded gasoline was more than $5.

"These prices are reasonable now," the 39-year-old New Smyrna Beach resident said. "They are very beneficial. I can now go more places like Deltona and work another job."

Though gas prices are down, other necessary commodities such as bread and milk are not.

NEW SMYRNA BEACH -- Adele Aletti understands the importance of what it takes to run a small business, which explains why she was sporting a Barack Obama T-shirt outside a polling precinct at the Brannon Center on Election Day. "

He's the guy and I need to support who I believe in," said Coletti, owner of Gone Bonkers! on Flagler Avenue and a strong advocate for the merchants of New Smyrna Beach.

NEW SMYRNA BEACH -- It was food, wine and merriment over the weekend on Flagler Avenue for the inaugural uncorked -- a wine- and food-tasting event along quaint Flagler Avenue on Friday, Saturday and most of today, before windin down just before 5 p.m. as planned.

Dennis Shepherd, a DJ hired to play jazz during the outdoor venue said the "turnout was really good," considering this was the first one put on by area merchants.

U.S. stocks fell and bond prices rose after financial shares led stocks lower amid continued credit concerns. Freddie Mac and Fannie Mae fell after concern over the likelihood of a government bailout increased. Crude oil prices fell as concern that a tropical storm may threaten supply was reduced,leading energy shares lower.

The Dow Jones industrial average was down 180.51 .. at 11479.39.

The Standard & Poor's 500 index was down 19.60 .. at 1278.62.

U.S. stocks and bond prices rose after Fannie Mae and Freddie Mac received positive news from regulators which may open up another source of financing.

U.S. stocks closed lower and bond prices fell after an economic report showed retail sales in July fell for the first time in five months. Crude oil prices rose, boosting energy shares, after the U.S. Energy Department reported a bigger-than-forecast decline in gasoline inventories, increasing supply concerns. A lower-than-expected earnings announcement from Deere & Co.

U.S. stocks closed lower and bond prices rose after as financial shares weighed on the market. JP Morgan Chase & Co. led declines after it stated it may post additional credit losses, as it expects the global economy "to continue to be weak, for capital markets to remain under stress and for a

U.S. stocks closed higher and bond prices fell. Retail shares rose on expectations lower crude oil prices may benefit demand. Offsetting gains in retail shares were shares of energy firms, after crude oil prices weakened

on concerns that a slowing economy may negatively affect demand domestically.

Credit card issuers rose as the fall in oil prices may increase the ability of consumers to make additional purchases.

The Dow Jones industrial average was up 48.03 .. at 11782.35.

– The Volusia County Department of Economic Development will conduct an economics briefing to business, banking, education and local government leaders beginning at 7:45 a.m. Friday, Aug. 8, at the Daytona Beach International Airport. The briefing will be in the Volusia Room which is on the second level in the main terminal. The briefing will highlight the area’s employment trends, commercial and residential building activities, and the latest residential foreclosure rates for the months of April, May and June. The seating for this event is limited to the first 120 registrants.