US stock markets ended the year on a low note, but still managed to post a clear gain on a yearly basis. The Dow Jones closed at 42,544.22, a 0.1% decline from the previous day, but a 13% increase from the same time last year.
The broader S&P 500 index closed at 5,878.31, a 0.5% decline, but a 23% increase from the same time last year. The Nasdaq, a technology-heavy index, closed at 21,012.17, a 0.9% decline, but a 25% increase from the same time last year.
Many analysts expect a cautious approach from investors in the coming weeks, as they wait to see the economic and financial policies of the new US President, Donald Trump. The year 2024 did bring the expected interest rate cuts, but the Federal Reserve’s latest rate decision in December had initially dampened the optimism of investors.
The European currency, the euro, was weaker, trading at 1.0360 US dollars per euro, with the US dollar equivalent to 0.9653 euros.
Gold prices rose, with an ounce trading at $2,624, a 0.7% increase, equivalent to 81.43 euros per gram.
Oil prices, meanwhile, rose, with a barrel of Brent crude trading at $74.64, a 0.9% increase, or 65 cents, from the previous day’s close.