Dow up 11% for the year
December 31st, 2010
05:19 PM ET

Dow up 11% for the year

Highlights from the day's business news:

Dow ends year up 11%

Traders are ready to ring in 2011 after celebrating the end of a year featuring double-digit gains.

The Dow Jones industrial average ended Friday at 11,578, up 11% from the close of 2009. The S&P 500 finished at 1,258, up 13% for the year, and the Nasdaq rose 17% to end at 2,653.

Each of the three indexes moved only slightly in trading on Friday, making for a lackluster end to a tumultuous year. Wall Street was relatively quiet during the entire holiday week, as many investors had already closed their books out in prevous trading sessions.

Treasuries get a year-end boost

U.S. treasury prices rose during a shortened trading session Friday, ending a volatile year on a positive note.

The price on the benchmark 10-year note rose slightly, pushing the yield down to 3.30% from 3.37% late Thursday. Bond prices and yields move in opposite directions. The yield on the 30-year bond fell to 4.33%, while the yield on the two-year note edged down to to 0.60%. The five-year note's yield slipped to 2.01%.

Trading volume remained light amid the year-end holiday period.

U.S. debt, which is considered a safe haven, was an attractive asset to investors during the earlier part of 2010, as concerns over Europe's sovereign debt issues were at the forefront.

But as those worries faded, so did the appeal for Treasuries. That has sent yields higher, especially as better-than-expected economic news bolstered demand for riskier asset. After hitting a low below 2.4% in early October, the benchmark yield finished the year at 3.3%.

CNNMoney.com staff reporters Annalyn Censky and Hibah Yousuf contributed to this report.

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Filed under: Business • Economy
soundoff (24 Responses)
  1. Christopher Dycha

    We knew it would get better but let's wait for a consistent long term trend and always avoid knee jerk reactions. The key is patience and never bet the house on all the marbles. Most people do the exact opposite of what they should do. When we all lost in epic proportions 2 years ago, people got scared and pulled out. When it goes well, they jump on the bandwagon. Not very wise. Instead of pulling out when we plummeted 2 yrs ago, buy more (if you could afford to) or just sit tight. However, do not pull out and take the hit. You would of made more than the 11% currently being reported. Good luck to all in 2011 and protect yourself-diversify!. Christopher Dycha

    January 1, 2011 at 3:27 pm | Report abuse | Reply
  2. Jim Brieske

    Diversifying makes no difference because in the end you either have 40% of what you began with or you have nothing. The thieves of Wall Street and The White House are buying time and stealing millions upon millions of dollars.
    They just haven't told anyone. You get told months from now in a readjustment that puts the Dow at the actual 30 percent loss of value which it currently sits at.
    It's a numbers racket of the largest magnitude being conducted by those who haven't a clue that God is onto to them.
    It is not wise to make millions of dollars while hiding the fact, your scam system (Wall Street) is worse off than during The Great Depression. What everyone should be doing is sacrificing. The poor should be at soup kitchens everywhere.
    This would inspire our worthless president to possibly draft (build a war machine) and go to war against Iran. He is a cowardly fuk.
    He is going to cooperate though or I will make Pompei look like a barbecue on Sunday afternoon on the West Lawn.
    jim

    January 1, 2011 at 6:27 pm | Report abuse | Reply
  3. Veritas

    @Jim brieske you are wrong.

    January 1, 2011 at 6:37 pm | Report abuse | Reply
  4. GOPLiars

    Wait a minute, I thought President Obama was terrible for business, which is why the republic party lied their butts off about needing additional tax breaks for the richest 2%! You mean he WASN'T?

    January 1, 2011 at 10:47 pm | Report abuse | Reply
  5. whitmanguy

    A sniff of news that might be construed as remotely good, and the Obama bashers are out in full force. I haven't yet checked the snowstorm reports as yet, but there's little doubt that all that bad weather will be ascribed to his evil ways.

    January 2, 2011 at 12:00 am | Report abuse | Reply
  6. tony glasper

    its called financial disipline my friends.there is nothing like taking out a portion of your paycheck putting it in a financially sound credit union,forgetting about a currupt 401k plan leaving that money alone and retireing happy and not worrying about corrupt wall st and corrupt politicians.imho.peace and love.

    January 2, 2011 at 11:15 am | Report abuse | Reply
  7. mr. Loveit

    solutions...g.o.p. as faltering seeks youth vote..proposing to legalize cannabis as it is already clearly legal in lansing and leavenworth kansas. Obama response is that they are crazy..against children and immoral. Suddenly the newt gingrich women are in true power. The stock market is forever feeling good and taxation is placed back on goods and services.

    January 2, 2011 at 5:15 pm | Report abuse | Reply
  8. mr. Loveit

    also remember george washington the famous president supported without wavering a worldwide ban on alcohol until he discovered his patriot youth troops such as leavenworth and lansing kansas simply could not live or work jobs of any type without it.

    January 2, 2011 at 5:41 pm | Report abuse | Reply
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