US stocks close lower as 2017 draws to a close

New York, December 30 (IANS): US stocks ended lower on Friday, the last trading day this year.

The Dow Jones Industrial Average lost 118.29 points, or 0.48 per cent, to 24,719.22. The S&P 500 decreased 13.93 points, or 0.52 per cent, to 2,673.61, Xinhua news agency reported. The Nasdaq Composite Index was down 46.77 points, or 0.67 per cent, to 6,903.39…

… Both the FTSE 100 index of leading blue chip companies and the FTSE 250 reached new records at the close of trading on Friday, BBC reported.

… Stephen Eckett, author of the annual Harriman Stock Market Almanac, said: “All the dangers that were anticipated with a Trump administration haven’t materialised.” The FTSE 100 finished up 7.6 per cent at 7,687.77 compared with the last day of trading in 2016.

Meanwhile, the FTSE 250 ended 14.7% ahead at 20,726.26 compared with the end of last year.

Eckett said: “It has been a little bit of a surprise to many people that markets were are strong as they were this year.”