US stocks end lower, post annual gains of over 23%

US markets closed out 2024 in red, while the 10-year treasury note yields ticked up. The equity markets recorded annual gains for the second straight year, driven by optimism for ending the monetary tightening cycle and artificial intelligence (AI) boom.

The Dow Jones Industrial Average remained unchanged at 42,544 points, posting a monthly loss of 5.25%. The index trimmed its quarterly and annual gains to 0.5% and 12.9%, respectively.

The S&P 500 sank nearly 25 points, or 0.45%, to 5,881, recording a monthly drop of 2.5%. However, it jumped 2% in Q4 2024 and 23.3% throughout 2024.

The Nasdaq Composite Index shed 175 points, or 0.9%, to end at 19,310, but rose 0.5%, 6.15% and 28.65% on a monthly, quarterly and annual basis.

As for the European indices, STOXX Europe 600 advanced 0.55% to 507.6 points, to finish 6% up in 2024. The index posted monthly and quarterly losses of 0.5% and 2.9%, respectively.

FTSE 100 rose 0.65% to 8,173 points. Similarly, CAC 40 added 0.9% to 7,380 points, while the German markets were closed.

In Japan, Nikkei 225 shed 0.95% to 39,894 points. TOPIX also fell 0.6% to 2,784 points. Meanwhile, both indices closed out the year with quarterly gains of 5.2% and 5.25%, respectively. On a yearly basis, they climbed 19.2% and 17.7%, respectively.

The prices of Brent crude oil futures for March 2025 delivery rose 0.9%, or 65 cents, to $74.64 a barrel.

Meanwhile, prices of WTI crude oil futures for February 2025 delivery increased by 1%, or 73 cents, to $71.72 a barrel.

By the end of the year, Brent crude had declined by about 3.1% from its final closing price for 2023, which was $77.04 a barrel. WTI crude, however, remained almost unchanged compared to last year’s settlement price of $71.65 a barrel.

As for gold, futures prices for February 2025 delivery rose by 0.85% or $22.9 to $2,641 per ounce. However, the yellow metal recorded monthly and quarterly drops of 1.5%, trimming its annual gains to 21.4%.