December 29, 2017
Stocks end 2017 on a soft note with the Dow down 0.5 percent on the day to 24,719.22. Yet the year-on-year gain remains very substantial, at 25.1 percent which beats the S&P at 19.4 percent (ending at 2,673.61) but not the Nasdaq at 28.2 percent (6,903.39).
In the bond market, curve flattening was 2017's story as the 2-year yield, reflecting Federal Reserve rate hikes, rose 68 basis points to 1.89 percent while the 10-year yield held steady, slipping 4 basis points on the year to 2.41 percent.
Weakness was the dollar's story as the dollar index fell a sizable 9.7 percent in 2017 to 92.29. Oil ended over $60 at $60.15 and up 3.1 percent on the year while gold ended over $1,300 at $1,305.50 and a 2.1 percent annual gain.