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

Post by:
Filed under: Business • Economy
soundoff (24 Responses)
  1. Big Joe

    That's good news. The people who lost money in stocks, bonds, or retirement accounts are slowly recouping their losses.

    December 31, 2010 at 5:24 pm | Report abuse |
  2. Jeff Frank

    Yes, with all the hype over unresponsible babyboomers dependinding solely on social security and medicare over the next 16 years, this 11% may be a spit in the bucket, but ends the year on a positive note for all the 401k wise individuals.

    December 31, 2010 at 7:52 pm | Report abuse |
    • pat

      It went down because a lot of us exhausted our funds and we cannot make claims anymore...don't be fulled by the half story

      January 3, 2011 at 3:44 pm | Report abuse |
  3. Homer Simpson

    a truly unreliable economic marker, it only shows that investors (the rich)are making money, im going back to work to get laid off in a week, yeah, can i have my bailout money back now? Very talented toolmaker of 20+ years, in the manufacturing capitol and cant stay employed! Man this is getting old quick, 2 layoffs in 20 months, house in forclosure, economy is all fixed!

    December 31, 2010 at 9:41 pm | Report abuse |
  4. mr. Loveit

    excellent... The workingman is now clearly on the rise once again. Punch the clock. Who can complain about this? Trickle down is here to stay. Its called free markets. A little more free everyday.

    January 1, 2011 at 12:33 am | Report abuse |
  5. mr. Loveit

    Always remember..they said it was "not possible".

    January 1, 2011 at 1:49 am | Report abuse |
  6. Gma

    I have lost so much IRA money since 2008.....I have to make it up in order to pay the mortgage....Is it me or is my financial advisor sleeping on the job?????

    January 1, 2011 at 3:22 am | Report abuse |
  7. sheilatrake

    "Printapons" features daily a deal a day on the best things to do, see, eat, and buy in your local city and a variety of other cities across the United States.

    January 1, 2011 at 4:05 am | Report abuse |
  8. Fred Bartkowski

    The lack of practical application of intelligence was an old story long ago.
    Rise in the stock market matched manufacturings contribution to GDP exactly.
    Your mistake Homer was picking a career which required you do something useful. No margin for error in tool making. If you make a tenth of a thousandth mistake it is obvious.
    If you had chosen a career as a trader you could have been perfectly wrong every time and made millions.

    January 1, 2011 at 5:36 am | Report abuse |
  9. Fred Bartkowski

    Printapons are cool as a spur to consumtion.
    However the price of a free lunch always exceeds the value of the meal.

    January 1, 2011 at 5:39 am | Report abuse |
  10. ThomasD

    January 1, 2011 at 7:51 am | Report abuse |
  11. Jim Brieske

    The stock market is down 30 percent. Do the math morons. What has Obama instructed his minnons to do? Remember, it is a proven fact. Obamacare he passed it, then admitted it's garbage by handing out exemptions to corporations and their employees. That makes everyone else exempt otherwise it's discrimination. We are dealing with a stupid conman for a president who injected hundreds of billions upon hundreds of billions of dollars into the U.S. stock market to create 41 percent swing upward. Instead of a 30% swing down, where the stock market actually sits.The U.S. Stock market is down 30% not up 11%!
    Why am I on a planet of idiots?

    January 1, 2011 at 1:09 pm | Report abuse |
  12. Jim Brieske

    Big Joe. No are they not. And the new people being suc/kered in are going to lose all their money at the end of the day too.
    A person wants to get reelected President of the United States. He would absolutely do anything to achieve that.
    Including s^cking the d'cks of all of his golf buddies while basketball buddies b/ttf^ked him.

    January 1, 2011 at 1:24 pm | Report abuse |
  13. Big Joe

    @Gma: Many, many have lost money in retirement, stocks, other investments, but it can't stay like that forever. @Jim: How can you be so cheerful these days??

    January 1, 2011 at 1:59 pm | Report abuse |
  14. Jim Brieske

    Big Joe. I'm doing all that I can to keep from going into a diner and ordering a piece of pie.

    January 1, 2011 at 2:57 pm | Report abuse |
  15. ThomasD

    I can't remember. What form of government is it again that will imprison you for not paying personal income tax although there is no law requiring you to do so? Total. .totalit. .cant remember. .

    January 1, 2011 at 3:17 pm | Report abuse |
1 2