Wall Street Posts Losses on Last Day of 2014, Ends Year Higher
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iStock/Thinkstock(NEW YORK) — The markets moved lower on the Wednesday, the last day of 2014, but ended the year on a positive note.
The Dow Jones Industrial Average closed below 18,000, finishing the session at 17,823.07, down 160.00 from its open. The Dow however ended up 7.5 percent for the year.
The Nasdaq dropped 41.39 to 4,736.05 to close out 2014, but overall was up 11.40 percent this year. The S&P 500 lost 21.45 on the day to close at 2,058.90, but rose almost 13.5 percent for the year.
The markets will be closed on Thursday for New Year’s day.
More Americans sought unemployment benefits last week, but the number of applications remains at historically low levels.
The Labor Department says applications for unemployment benefits climbed 17,000 last week to a seasonally adjusted 298,000.
The less volatile four-week average rose 250 to 290,750. That average has plummeted 17.5 percent in the past 12 months.
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