Asian markets settled mixed in light trading. Australia’s ASX declined .5% to 4649, while the Shanghai Composite advanced 1.6% to 2269. The Hang Seng ended flat, while Japanese and Korean markets were closed. For the year, the Hang Seng jumped 23%, the ASX 200 rallied 14.6%, and the Shanghai Composite edged up 3.2%, marking its first winning year since 2009.
Europe’s final trading day of 2012 was marked by low volume. Markets in Germany and Italy were closed, while other markets ended early. The CAC40 climbed .6% to 3641, while the FTSE slipped .5% to 5898.
In the US, the Nasdaq climbed 2% to 3019.51, the S&P 500 rallied 1.7% to 1426, gaining 13% for the year, and the Dow rose 166 points to 13104, up 7.4% for the year.
Cliffs Natural Resources, a producer of coal and iron-ore, skyrocketed up 8.4%, following a strong Chinese manufacturing report.
Apple climbed 4.4%, putting its annual gain at an impressive 31.4%.
Currencies
The yen fell .9% to 86.77, hitting its lowest level since July 2010.
USD/JPY" title="USD/JPY" width="782" height="300">
The euro slipped .2% to 1.3193, and the pound gained .4% to 1.6227.
Economic Outlook
Although no deal was yet reached, hopes are high for a resolution to the “fiscal cliff” over the next few days.
Equity markets across much of the globe will be closed on Tuesday for New Year’s.
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US Stocks Surged On Final Day Of The Year
Published 12/31/2012, 05:19 PM
Updated 05/14/2017, 06:45 AM
US Stocks Surged On Final Day Of The Year
Equities
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