US stock market closes 2023 with best performance in years

ISTANBUL

US stocks closed lower Friday, but exchanges managed to finish 2023 with their best performances in years.

The Dow Jones was down 20 points, or 0.05%, to end the day at a new record close of 37,689, but the blue-chip index posted a 13.7% gain in 2023.

The S&P 500 fell 13 points, or 0.28%, to finish at 4,769. The index posted its ninth consecutive weekly gain -- its longest winning streak since 2004 -- as it jumped 24.2% for the year.

The Nasdaq was off 83 points, or 0.56%, to close the day at 15,011. The tech-heavy index soared 43.4% for the year -- its highest annual gain since 2020.

The VIX volatility index, also known as the fear index, was down 0.16% to 12.45. The 10-year US Treasury yield rose 1.1% to 3.891%.

The dollar index increased 0.16% to 101.39, while the euro shed 0.2% to $1.1036 against the greenback.

Despite gains in recent days, precious metals were down with gold losing 0.1% to $2,063 per ounce and silver trimming 0.8% to $23.79.

Oil prices were in negative territory, with global benchmark Brent crude at $77.06 per barrel and US benchmark West Texas Intermediate crude at $71.25.

Both benchmarks shed approximately 10% in 2023, marking their first annual losses since 2020.