Markets Right Now: Stocks end a strong year on a weak note

AP News
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Posted: Dec 30, 2016 4:09 PM

NEW YORK (AP) — The latest on developments in financial markets (All times local):

4:00 p.m.

U.S. stocks are closing out a solid year following a flat 2015.

Indexes ended the last week of 2016 on a soft note, slipping in quiet trading Friday ahead of the New Year's Day weekend.

For the year, the Standard & Poor's 500 index climbed 9.5 percent, its fourth year of gains in the last five.

Technology stocks led a broad decline on the last day of trading of the year.

Chipmaker Nvidia slumped 4.2 percent, the biggest loss in the S&P 500. It's still the biggest gainer for the year overall, having tripled in value.

The Dow Jones industrial average lost 57 points, or 0.3 percent, to 19,762.

The S&P 500 fell 10 points, or 0.5 percent, to 2,238. The Nasdaq declined 48 points, or 0.9 percent, to 5,383.

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11:45 a.m.

U.S. stocks are veering mostly lower on the final day of trading for the year.

Technology stocks are down the most Friday, while real estate companies and banks eke out small gains.

Chipmaker Micron Technology fell 1.2 percent and Google's parent company Alphabet lost 1 percent.

Trading is subdued ahead of the New Year's Day holiday.

The Dow Jones industrial average was little changed at 19,820.

The Standard & Poor's 500 index edged down 3 points, or 0.2 percent, to 2,245. The Nasdaq composite declined 29 points, or 0.6 percent, to 5,402.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.46 percent.

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9:35 a.m.

Stocks are wavering between small gains and losses in early trading on Wall Street on the last day of trading for the year.

Materials and energy stocks were rising in early trading Friday, while high-dividend stocks like utilities and phone companies gave back some of the gains the made a day earlier.

Mining company Freeport-McMoRan rose 1.6 percent and Cabot Oil & Gas climbed 2 percent.

Iconix Brand Group rose 4.4 percent after saying it would sell its Sharper Image business.

The Dow Jones industrial average was little changed at 19,826.

The Standard & Poor's 500 index was also flat at 2,249. The Nasdaq composite slipped 1 point to 5,429.

Small-company stocks fared better than the rest of the market. The Russell 2000 edged higher.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.47 percent.