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 Stocks slipped on the final working day of 2017, but not by nearly enough to cast a shadow on the incredible rally this year. For the first time ever, the S&P 500 finished every month of the calendar year with a gain. Here's Friday's scoreboard: - Dow: 24,719.22, -118.29, (-0.48%)
- S&P 500: 2,673.61, -13.93, (-0.52%)
- Nasdaq: 6,903.39, -46.77, (-0.67%)
And for the final trading day of the year, here's how various assets were priced on Friday, and their annual gain: - S&P 500: 2,673.61, +19.5% (best year since 2013)
- 10-year yield: 2.45% on Jan. 2, 2.4% on Dec. 29
- 30-year yield: 3.06% on Jan. 2, 2.74% on Dec. 29
- WTI crude oil: $60.42, +12% (highest level since mid-2015)
- Gold: $1,305.50, +13% (best year since 2010)
- US Dollar Index: 91.94, -10% (worst year since 2003)
- Bitcoin: $14,610.71, +1,401% (as of 3:35 p.m. ET)
- Goldman Sachs expects a $5 billion hit to profits for the fourth quarter and year because of the new tax law. Two-thirds of that is due to changes in repatriation taxes, when funds held overseas are returned.
- Ripple briefly overtook ethereum as the second-largest cryptocurrency by market cap. Ripple, which focuses on bank transfers, sported gains of more than 40% at one point Friday, propelling it to a record high and a market cap of $73.65 billion, according to data from CoinMarketCap.com.
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A settlement has been reached in the insider trading case against Bill Ackman's hedge fund, Pershing Square, and Valeant Pharmaceuticals. "Pershing Square and Valeant have agreed to split the $290 million total settlement such that Pershing Square will pay $193.75 million and Valeant will pay $96.25 million," Pershing said in a press release. Additionally: The best stock market trade of 2017 was one that experts hate A kidnapped crypto executive was reportedly released after paying a $1 million bitcoin ransom You can now practice trading CME bitcoin futures Wall Street banks are booking big losses because of Trump's new tax rules — and they can be traced all the way back to the financial crisis |
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