NEW YORK (APP): US stocks dipped on Friday to end a tumultuous year as market participants remain concerned about the economic and profitability landscape.
The Dow Jones Industrial Average fell 73.55 points, or 0.22 percent, to 33,147.25. The S&P 500 sank 9.78 points, or 0.25 percent, to 3,839.5. The Nasdaq Composite Index dipped 11.60 points, or 0.11 percent, to 10,466.48.
Ten of the 11 primary S&P 500 sectors ended in red, with real estate and utilities down 1 percent and 0.96 percent, respectively, leading the laggards. Energy rose 0.76 percent, the lone gaining group.
Friday marked the final trading day of 2022, a brutal year for equities as aggressive Federal Reserve policy tightening to curb inflation triggered worries about a potential US recession.
All the three major benchmarks suffered their worst year since 2008. The Dow dropped 8.8 percent in 2022, while the S&P 500 tanked 19.4 percent and the technology-heavy Nasdaq slumped 33.1 percent.
US dollar slips as euro, yen climb
The US dollar fell in late trading on Friday, amid a momentum in the euro and the Japanese yen.
The dollar index, which measures the greenback against six major peers, dipped 0.32 percent to 103.5250. In late New York trading, the euro rose to 1.0699 US dollars from 1.0676 dollars in the previous session, and the British pound traded flat at 1.2068 US dollars.
The US dollar bought 131.05 Japanese yen, lower than 132.96 Japanese yen of the previous session. The greenback rose to 0.9249 Swiss francs from 0.9220 Swiss francs. The US dollar decreased to 1.3533 Canadian dollars from 1.3539 Canadian dollars, and it weakened to 10.4338 Swedish Kronor from 10.4446 Swedish Kronor.
Oil prices rise as US rig count dips
Oil prices climbed on Friday after data showed a fall in the weekly US oil rig count.
The West Texas Intermediate for February delivery rose 1.86 US dollars, or 2.4 percent, to settle at 80.26 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery added 2.45 dollars, or 2.9 percent, to settle at 85.91 dollars a barrel on the London ICE Futures Exchange.
The number of active US rigs drilling for oil dropped by one to 621 this week, Houston-based oilfield services company Baker Hughes reported Friday.
US stocks fall as WS wraps up its worst year since 2008
