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.