NEW YORK — Wall Street ended the year on a down note in trading Friday after rallying in the final week of 2006 to push the Dow Jones Industrial Average past the 12,500 mark.
It was a surprising year for the markets, which seesawed in 2006 to highs and lows as investors reacted to the start of a housing slump and tried to predict the direction of interest rates after a two-year trend by the Federal Reserve of raising them.
Retail stocks followed the broader market. The S&P Retail Index shed 0.2 percent Friday, closing at 499.20. But for the year, the index closed the last day of 2006 up 9.4 percent from the first day of trading in the year.
Trading won't resume until Wednesday. The stock markets are closed today as part of a national day of mourning honoring former president Gerald Ford, who passed away last week. Both the Nasdaq Stock Market and the New York Stock Exchange will close to honor the nation's 38th president.
The Chicago Board Options Exchange also said it would close Tuesday, as will the CBOE Futures Exchange. The Chicago Mercantile Exchange will be open until noon Tuesday for foreign exchange, but will close the commodities and equity markets all day.
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