U.S. Stocks Pare 2017 Gain as Dollar Weakens: Markets Wrap

Euro tops $1.20 as it heads for best year since 2003
WTI crude advances to two-year high; copper declines

The euro will stay capped at $1.20 in Q1, says ING’s Viraj Patel, before rising to $1.25 later in 2018.Daybreak: Europe." (Source: Bloomberg)

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By Jeremy Herron and Kailey Leinz

December 28, 2017 at 10:41 PM UTC

Updated on

December 29, 2017 at 9:04 PM UTC

This article is for subscribers only.

U.S. stocks pared the best annual gain since 2013, slipping on the final market day in thin trading. The dollar’s slump continued as it heads for its worst year since 2005, pushing the euro above $1.20.

The S&P 500 Index fell to finish the year higher by 19 percent. The bulk of Friday’s losses came in the final 15 minutes of trading. Volume was 28 percent lower than the 30-day average as investors prepare for a three-day weekend. The Dow Jones Industrial Average fell from a record to trim its 2017 rise to 25 percent. Small caps rose only 13 percent in the year, while the Nasdaq Composite rose 29 percent. European equities edged lower but notched the fifth rise in the past six years.