Stocks closed out 2015 with a losing session. For the year, both the Dow and the S&P 500 lost ground. The Nasdaq rose thanks to gains in tech stocks, like Amazon and Netflix. Bobbi Rebell reports.
The last trading day of the year ended on a sour note with the Dow, S&P and NASDAQ closing lower. 2015 was a volatile one for stocks, despite all three major indexes hitting record highs, there were steep drops as well. And when the closing bell rang on December 31st, the Dow and S&P were in the red for the year. Much of the blame for the tumble - cheaper crude oil and it's impact on energy stocks. But the Nasdaq had gains for the year, led by tech stocks. Reuters U.S. Markets Editor David Gaffen: SOUNDBITE: DAVID GAFFEN, U.S. MARKETS EDITOR, REUTERS (ENGLISH) SAYING: "It's really been a middling year for the market. The S&P will end pretty much unchanged and so we saw some decent out performance from a couple of areas. Most specifically healthcare, and a lot of consumer discretionary stocks. A lot of people this year talking about the FANG stocks that ended up being the big winners of the year. So, Facebook, Amazon, Netflix and Google kind of being the market leaders." Initial claims for jobless benefits rose sharply last week. However, claims have remained below for the key 300,000 threshold for 43 consecutive weeks. European stocks ended the day lower.