Delta Air Lines announced plans Monday to purchase an oil refinery outside of Philadelphia, a novel approach to reducing its fuel costs. Shares of the airline rose.
World markets: Britain's FTSE 100 finished up 1.3%. Markets in Paris and Frankfurt were closed for the May Day holiday.
Japan's Nikkei ended down 1.8%, while markets in Hong Kong and Shanghai were closed for the holiday.
Meanwhile, Australia's central bank announced it was cutting its key interest rate by 0.5 percentage points to 3.75%, due to below trend growth in Australia and globally. It was the bank's biggest rate cut since February 2009, when global financial markets were still in near free fall.
Currencies and commodities: The dollar gained ground against the euro, the British pound and Japanese yen.
Oil for June delivery rose $1.29 to settle at $106.16 a barrel.
Gold futures for June delivery fell $1.80 to settle at $1,662.40 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury were lower, with the yield rising to 1.96% from 1.91% late Monday.
Are you worried about how the 2012 presidential election will impact your investment portfolio? Which candidate do you think will be better for the stock market? E-mail Hibah.Yousuf@turner.com for the chance to be included in an upcoming story.