No Dow 20K for 2016, but BIG gains for the year

Stocks sank on the last trading day of 2016, with the Dow now 237 points short of the 20,000 milestone that it came closest to hitting on Dec. 20.

It was merely a weak end to a very strong year, however, with the S&P 500 gaining 9.5% and the small-company Russell 2000 jumping 19.5% for 2016.

For the day, the Dow Jones industrial average lost 0.3%, off 57 points to 19,762.60. But for 2016, the blue chips gained 13.4%.

The S&P 500 ended 0.5% lower for the day, while the Nasdaq composite fell 0.9%.

“So many times we look for a rally at the end of the year, particularly between Christmas and New Year’s,” said J.J. Kinahan, TD Ameritrade’s chief strategist. “But with the incredible up move we’ve had since the election, people are either hesitant to buy things heading into the new year or are taking a little bit of profit.”

Charter Communications (CHTR) lost 1.5% on reports that talks with NBCUniversal are going badly, which could potentially lead to a blackout for Spectrum subscribers.

Global stocks mostly rose on the year’s last day of trading, with Britain’s index rallying to hit another all-time high. The FTSE 100, which was trading for only a half day, rose 0.3%. That leaves the index 14.4% higher over 2016. Elsewhere in Europe, Germany’s DAX rose 0.3%, while France’s CAC 40 gained 0.5%.

Earlier in Asia, Japan’s Nikkei 225 fell 0.2%, while Hong Kong’s Hang Seng index rose 1%.

Benchmark U.S. crude stayed near the $54-a-barrel level for the day — but was up a whopping 45% for the year, its best yearly gain since 2009, CNBC reported.

The yield on the 10-year Treasury note fell to 2.45% from 2.48% late Thursday.