Dollar, stocks log yearly gains, oil the biggest winner

Fri Dec 30, 2016 4:34pm EST
 
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By Saqib Iqbal Ahmed

NEW YORK (Reuters) - The dollar, oil and U.S. stocks slipped on Friday in thin pre-holiday trading on the last trading day of 2016, but ended the session with sizable gains for the year.

The dollar logged its fourth straight year of gains against a basket of major currencies, while oil prices notched up their biggest annual gain since 2009.

Global markets have fared surprisingly well in a year marked by major political shocks, including June's vote for Britain to leave the European Union and the unexpected election of Donald Trump as U.S. president in November.

MSCI's world index .MIWD00000PUS, which tracks shares in 46 countries, rose 5.6 percent for the year, its best performance in three years.

On Friday, the index retreated 0.04 percent as weakness on Wall Street ate into earlier gains in Asia and Europe.

U.S. shares slipped, dragged down by Apple Inc (AAPL.O: Quote) and other big tech stocks, and the S&P 500 .SPX ended lower for the third straight session.

"It's been such a significant run-up that there's been a pause," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

The Dow Jones Industrial Average .DJI fell 57.18 points, or 0.29 percent, to end at 19,762.6, the S&P 500 .SPX lost 10.43 points, or 0.46 percent, to close at 2,238.83 and the Nasdaq Composite .IXIC dropped 48.97 points, or 0.9 percent, to finish at 5,383.12.   Continued...

 
A gas station worker fuels a vehicle in Tokyo August 26, 2015. Crude oil futures edged up on Wednesday, but were still not far off 6-1/2 year lows after China's central bank moved to support the country's stumbling economy, while concerns about a supply glut capped gains.  REUTERS/Toru Hanai