Stocks dipped in trading on Friday, the final trading day of 2016.
All three indexes ended the day in the red, with the tech-heavy Nasdaq leading the losses.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 19,773.11, -46.67, (0.24%)
- S&P 500: 2,239.43, -9.83 (0.44%)
- Nasdaq: 5,383.12, -48.97, (0.90%)
- US 10-year yield: -3.3 basis points at 2.475%
- The Russian ruble weakened after Vladimir Putin said he would not retaliate to US sanctions. The currency bounced back after sinking almost 2% against the US dollar, finishing the day down 1.2% after the Russian president said he would not respond to the Obama administration’s decision to sanction Russian diplomats over hacking.
- Apple will cut production of its iPhone 7 in the first quarter of 2017. Supplier data compiled by Nikkei showed that the production of Apple’s flagship iPhone will be lower than originally expected. A supplier indicated that the cuts were “within expectations.”
- The US oil rig count hit its highest level in a year. The Baker Hughes rig count ticked up by two, the ninth straight week of increases.
- Chicago PMI fell to 54.6. This was lower than economists’ forecast of 56.8 for Midwest manufacturing activity.