U.S. Markets
U.S. indexes opened the last trading day of the year in the red. The Dow Jones Industrial Average, which gained about 14% this year, was down by 0.03%. Nasdaq was down about 0.57%. The S&P 500 was down 0.16% at 2,245.61.
The small-cap index is set to beat all major indexes with a 19.6% gain in 2016. The S&P 500 is looking to end the year just shy of a 10% gain. Within the S&P 500, chipmaker NVIDIA (NVDA) is set to be the winner with a gain of approximately 230% this year. The year 2016 was also a good one for the semiconductor industry. The PHLX Semiconductor Index was up more than 40% this year. First Solar (FSLR), Under Armour (UA), and TripAdvisor (TRIP) were some of the biggest losers this past year.
Gold was trading for $1,157.30 an ounce after rising for four straight days. The precious metal rose 9% in value in 2016. Crude oil futures slipped 0.28% to $53.61 per barrel. Oil prices are up approximately 45% this year. Supply cuts are expected to reduce global inventories in the new year.
Stock on the Move
Shares of coupon company Groupon (GRPN) started the day in the green after falling for a week in a row. Shares of the company, headquartered in Chicago, were up more than 3% on the last trading day of the year. Shares had fallen 4.85% yesterday to $3.33--the lowest level since July. Morningstar analysts believe that the company lacks an economic moat and will make for a very uncertain investment. The company had weak sales in the holiday season, which reflects increased competition in the deals market. The e-commerce industry, however, gained about 7.2% this past year.
Foreign Markets
The head of Japanese international advertising and public relations company Dentsu (DNTUF) is stepping down next month, more than a year after a recruit killed herself because of overwork. Prosecutors are launching an investigation into the firm for enforcing excessive overtime. According to the government, about 2,000 people kill themselves because of work-related stress every year in Japan.
Asian stocks mostly were in the green on Friday. Nikkei 225 lost 0.16%, to end at 19,114.37. Hang Seng gained 0.96% after the Census and Statistics Department said that Hong Kong’s exports increased unexpectedly in November. The value of exports grew 8.1% year-over-year in November. Stocks in Taiwan rose in the last trading day of the year and the main index Shanghai was up 0.24%.
The Indian economy was one of the fastest-growing economies this past year. Reuters suggested that "with favorable macro-economic indicators, the country’s economic growth stood at 7.2%." India’s Sensex added 0.99% on the last day of the year, to end with a 2% gain for the year.
European markets were higher on Friday. Stoxx 600 was up 0.31%. DAX and CAC 40 gained 0.26% and 0.44%, respectively. The FTSE 100 is looking to end the year at an all-time high thanks to a rally in commodity producers. A weak pound also helped boost the United Kingdom’s exports this year.