Market Snapshot: Dow industrials post best annual gain in 3 years

U.S. stocks fell in the final trading day of the year on Friday as investors took profits on some of 2016’s highflying sectors, although major indexes posted strong annual gains and the Dow closed out its best year since 2013.

The day’s losses were broad, with all but two of the 11 primary S&P 500 sectors ending lower. However, trading volume was light, as is typical for the final trading week of the year. Markets will be closed for the New Year’s Day holiday on Monday.

“Whatever moves we’re seeing today are definitely exacerbated by low trading volume, as there are no major stories moving markets,” said Steve Sosnick, equity-risk manager at Timber Hill/Interactive Brokers Group.

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