U.S. stocks edged lower on the last day of the year as the market headed for a sluggish end to 2015. The modest losses in midday trading Thursday briefly dragged the Standard & Poor’s 500 index back into the red for the year. Utilities stocks were among the biggest decliners.
KEEPING SCORE: The Dow Jones industrial average fell 37 points, or 0.2 percent, to 17,566 as of 12:33 p.m. Eastern time. The S&P 500 index shed three points, or 0.2 percent, to 2,059. The Nasdaq composite lost 14 points, or 0.3 percent, to 5,051. Trading was lighter than usual ahead of the New Year’s Day holiday.
SECTOR VIEW: Seven of the 10 sectors in the S&P 500 index were down, led by a 1 percent decline in utilities stocks. Energy and materials stocks, which have been battered recently as commodities prices sank, rose as oil prices rebounded.
THE YEAR: 2015 is shaping up to be the worst year for the market since 2011. With dividends included, the S&P 500 index is on track for a total return of 2.4 percent for the year. Four years ago the index had an even more meager return of 2.1 percent. Last year it returned 13.7 percent.
The Nasdaq is up 6.7 percent, while the Dow is on track to end 2015 with a loss of 1.4 percent.
THE QUOTE: “It’s a lousy end to a pretty lousy year,” said Edward Campbell, portfolio manager for QMA, a unit of Prudential Investment Management. “A very unrewarding year.”
ENERGY: Crude oil and natural gas prices rose, recovering some of their losses from the day before. Benchmark U.S. crude climbed $1.09, or 3 percent, to $37.70 barrel in New York. Brent crude, used to price international oils, gained $1.38, or 3.8 percent, to $37.84 a barrel in London. Natural gas added 15 cents, or 7 percent, to $2.37 per 1,000 cubic feet.
GAINERS & LOSERS: DTE Energy declined the most among companies in the S&P 500, shedding $1.44, or 1.8 percent, to $80.10. Southwestern Energy led the gainers, adding 56 cents, or 9.2 percent, to $6.88.
OVERSEAS MARKETS: In Europe, Britain’s FTSE 100 dropped 0.5 percent, putting it down 4.9 percent for the year. France’s CAC-40 fared better in 2015, with an 8.5 percent gain after slipping 0.9 percent on Thursday. Germany’s main stock market, which was closed Thursday for the holiday, ended the year with a 9.6 percent gain. In Asia, the Shanghai Composite Index lost 0.9 percent, while Hong Kong’s Hang Seng gained 0.1 percent.
BONDS AND CURRENCIES: Bond prices rose. The yield on the 10-year Treasury note fell to 2.29 percent from 2.30 percent a day earlier. The dollar fell to 120.25 yen from 120.55 yen, while the euro fell to $1.0859 from $1.0924.
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