Equities
Asian markets closed mixed on the last trading day of the year, but were sharply lower than their 2010 settling prices. The Nikkei gained .7% to 8455, closing the year down 17%. Australia’s ASX 200 slipped .4%, declining 14.5% in 2011. In China, the Shanghai Composite jumped 1.2%, but dropped 22% for the year. The Hang Seng edged up .2%, a minor change to the index’s 20% drop in 2011.
In Europe, the major indexes enjoyed moderate gains. The CAC40 climbed 1%, the DAX advanced .9%, and the FTSE edged up .1%. For the year, the indexes fell 18%, 15%, and 6% respectively. Regional banks were the biggest losers, shedding almost 40% over the past year.
US stocks closed lower in light trading. The Dow fell 69 points to 12218, trimming its 2011 gain to 5.5%. The Nasdaq eased .3%, slipping 1.8% for the year, and the S&P 500 closed down .4%, ending flat for 2011.
After a Wild Ride, S&P 500 Ends 2011 Exactly Where it Began
American Airlines parent, AMR, tumbled 32% on news the company would be delisted from the New York Stock Exchange, after filing for bankruptcy last month.
Treasuries and Commodities
110 and 30-year notes both rose a modest 6/32, putting the yield at 1.88% and 2.89% respectively.
Energy traded lower, led by natural gas, which fell 1.3% to 2.989. Crude oil dropped .8% to 98.93, while gasoline slipped .5% to 2.6574.
In contrast, metals rallied significantly. Silver jumped 2.2% to 27.915, gold advanced 1.7% to 1568.80 and copper climbed 2% to 3.436.
Currencies
The Yen surged .9% to 76.91, and the Pound rallied .8% to 1.5543, as the Dollar traded lower. The Australian Dollar gained .7% to 1.0209, and the Swiss Franc edged up .2% to 1.0660. The Euro closed flat at 1.2961.
Economic Outlook
Tuesday’s major reports will include the ISM manufacturing index, constructions spending, and the minutes from the last FOMC meeting. No major earnings reports are scheduled.
analysis written by Bradley Welcher
Asian markets closed mixed on the last trading day of the year, but were sharply lower than their 2010 settling prices. The Nikkei gained .7% to 8455, closing the year down 17%. Australia’s ASX 200 slipped .4%, declining 14.5% in 2011. In China, the Shanghai Composite jumped 1.2%, but dropped 22% for the year. The Hang Seng edged up .2%, a minor change to the index’s 20% drop in 2011.
In Europe, the major indexes enjoyed moderate gains. The CAC40 climbed 1%, the DAX advanced .9%, and the FTSE edged up .1%. For the year, the indexes fell 18%, 15%, and 6% respectively. Regional banks were the biggest losers, shedding almost 40% over the past year.
US stocks closed lower in light trading. The Dow fell 69 points to 12218, trimming its 2011 gain to 5.5%. The Nasdaq eased .3%, slipping 1.8% for the year, and the S&P 500 closed down .4%, ending flat for 2011.
After a Wild Ride, S&P 500 Ends 2011 Exactly Where it Began
American Airlines parent, AMR, tumbled 32% on news the company would be delisted from the New York Stock Exchange, after filing for bankruptcy last month.
Treasuries and Commodities
110 and 30-year notes both rose a modest 6/32, putting the yield at 1.88% and 2.89% respectively.
Energy traded lower, led by natural gas, which fell 1.3% to 2.989. Crude oil dropped .8% to 98.93, while gasoline slipped .5% to 2.6574.
In contrast, metals rallied significantly. Silver jumped 2.2% to 27.915, gold advanced 1.7% to 1568.80 and copper climbed 2% to 3.436.
Currencies
The Yen surged .9% to 76.91, and the Pound rallied .8% to 1.5543, as the Dollar traded lower. The Australian Dollar gained .7% to 1.0209, and the Swiss Franc edged up .2% to 1.0660. The Euro closed flat at 1.2961.
Economic Outlook
Tuesday’s major reports will include the ISM manufacturing index, constructions spending, and the minutes from the last FOMC meeting. No major earnings reports are scheduled.
analysis written by Bradley Welcher