The S&P started and ended the year at around 1,257. So, stocks go nowhere for the year. Did nothing happen?
First, the scoreboard:
Dow: 12,217.6, -69.5, -0.6%
S&P 500: 1,257.6, -5.4, -0.4%
NASDAQ: 2,605.2, -8.6, -0.3%
And now, the top stories:
- The last trading day of the year couldn't have been more uneventful. No economic data. No earnings announcements. There weren't even any rumors floating about a eurozone bazooka or anything along those lines. On top of this, traders who weren't already on vacation went home early, and trading volumes dried up.
- Despite a jump in corporate profits this year, stocks ended exactly where they started: 1,257. All day, Bloomberg has been reporting that Credit Suisse and Morgan Stanley nailed their 2011 stock market calls, which essentially called for a flat market. Click here to see what Credit Suisse, Morgan Stanley and 14 other Wall Street firms predict for the S&P 500 in 2012 >
- The U.S. economy has been gaining some steam in the last few months. All you have to do is look at the rise in the Citigroup Economic Surprise Index. This Is What The US Economy Will Be Like In 2012 And 2013 >
- The year may be over for Europe, but its financial troubles are nowhere near resolution. Activity will pick up very early in the year. These 10 Upcoming Dates Are Crucial For The Future Of Europe >
- The U.S. and the eurozone aren't the only regions that will make news next year. Recent turmoil in Russia, Iran, and the Korean peninsula are a prelude to a rocky 2012. Here Are 10 Huge Geopolitical Risks That Could Make Or Break Markets In 2012 >
- This was an interesting year for commodities. Dr. copper fell, making everyone worried about China. Gold ended the year higher, but volatility and increasing correlation to stocks have effectively stripped the yellow metal of its safe-haven status. Oil prices were also volatile, rising as high as $115 per barrel earlier in the year. With black gold near $100 per barrel and Iran threatening to force prices higher, some experts are concerned that high energy costs pose a major risk to economic growth. Here Is What 11 Big Commodities Will Do In 2012 >
- One stand-out safe haven this year has been the U.S. dollar. We already know that U.S. Treasuries were one of the best asset classes of the year. Lately, the euro has exhibited some extraordinary volatility. We saw major intervention in the Swiss franc and the Japanese yen. It will certainly be interesting to see how currencies perform next year. This Is What The World's Big Currencies Will Do In 2012 >
- Have a safe and happy new year! We'll see you next Tuesday.
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Don't Miss: The Eurozone Crisis For Dummies
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See Also:
- STOCKS GO NOWHERE ON NO VOLUME: Here's What You Need To Know
- STOCKS RALLY ON MORE GOOD HOUSING DATA: Here's What You Need To Know
- STOCKS TUMBLE AND THE EURO DIVES: Here's What You Need To Know