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(Bloomberg) -- U.S. stocks slipped in thin trading on the final market day of 2017, while the dollar’s slump continued as the euro headed for its best annual performance in 14 years.
The S&P 500 Index turned lower in trading 45 percent below the 30-day average, leaving its gain this year just under 20 percent, the most since 2013. The Dow Jones Industrial Average fell from a fresh record. The Stoxx Europe 600 Index pushed higher, on the cusp of its fifth rise in the past six years. The Bloomberg Dollar Index fell for a third day, heading for its worst year in more than a decade, while the euro closed in on $1.20 for the first time since September. The Bloomberg Commodity Index extended a record-breaking string of gains, as WTI crude held above $60 a barrel and copper declined.
With little news to drive trading ahead of the New Year holidays, investors returned to themes familiar for the year -- a synchronous global expansion and go-slow approach toward monetary-stimulus withdrawal in major economies, which has been a winning recipe for equities and a loser for the greenback.
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- The S&P 500 Index fell 0.1 percent at 1:07 p.m. in New York. The Dow lost 0.1 percent and the Nasdaq Composite Index fell 0.2 percent.
- The Stoxx Europe 600 Index gained 0.1 percent.
- The U.K.’s FTSE 100 Index advanced 0.6 percent to the highest on record with the largest gain in more than a week.
- Germany’s DAX Index decreased 0.4 percent to the lowest in four weeks.
- The MSCI Asia Pacific Index rose 0.4 percent. The MSCI Emerging Markets Index headed for a third straight weekly gain and its highest close since 2011.
- Japan’s Topix Index fell 0.1 percent as of the close in Tokyo, still near its highest level since 1991.
- The Bloomberg Dollar Spot Index decreased 0.3 percent to the lowest in more than three months.
- The euro climbed 0.4 percent to $1.1992, the strongest in more than 14 weeks.
- The British pound gained 0.6 percent to $1.3525, hitting the strongest in 14 weeks.
- The Japanese yen gained 0.3 percent to 112.56 per dollar, the strongest in more than a week.
- The yield on 10-year Treasuries advanced one basis point to 2.44 percent.
- Germany’s 10-year yield climbed two basis points to 0.44 percent, the highest in more than two months.
- Britain’s 10-year yield declined one basis point to 1.199 percent.
- West Texas Intermediate crude advanced 0.4 percent to $60.05 a barrel, the highest in more than two years.
- Gold climbed 0.4 percent to $1,299.90 an ounce, hitting the highest in 11 weeks with its eighth consecutive advance.
- Copper dipped 0.8 percent to $3.28 a pound, the first retreat in more than three weeks.
- The Bloomberg Commodity Index gained 0.1 percent to 87.79, hitting the highest in more than seven weeks with its 12th straight advance.
--With assistance from Christopher Anstey and Robert Brand
To contact the reporters on this story: Jeremy Herron in New York at firstname.lastname@example.org, Kailey Leinz in New York at email@example.com.
To contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Natasha Doff
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