STOCKS SLIP TO END THE YEAR: Here’s what you need to know

caption
A reveller drops down a slide during the Glastonbury Festival at Worthy Farm in Somerset, Britain June 23, 2016.
source
Stoyan Nenov/Reuters

Stocks dipped in trading on Friday, the final trading day of 2016.

All three indexes ended the day in the red, with the tech-heavy Nasdaq leading the losses.

We’ve got all the headlines, but first, the scoreboard:

    Dow: 19,762.60, -57.18, (-0.29%) S&P 500: 2,238.83, -9.83 (-0.46%) Nasdaq: 5,383.12, -48.97, (-0.90%) US 10-year yield: -3.3 basis points at 2.475%

The Russian ruble weakened after Vladimir Putin said he would not retaliate to US sanctions. The currency bounced back after sinking almost 2% against the US dollar, finishing the day down 1.2% after the Russian president said he would not respond to the Obama administration’s decision to sanction Russian diplomats over hacking. Apple will cut production of its iPhone 7 in the first quarter of 2017. Supplier data compiled by Nikkei showed that the production of Apple’s flagship iPhone will be lower than originally expected. A supplier indicated that the cuts were “within expectations.” The US oil rig count hit its highest level in a year. The Baker Hughes rig count ticked up by two, the ninth straight week of increases. Chicago PMI fell to 54.6. This was lower than economists’ forecast of 56.8 for Midwest manufacturing activity.

ADDITIONALLY:

An interview with Markus Schomer, the chief economist of PineBridge Investments

China is behind the latest bitcoin craze

The best charts of 2016