Big Year Ends With a Fizzle

Updated from 4:11 p.m. EST

Stocks closed the last trading day of 2006 near their session lows, but the modest selling pressure couldn't put a dent in what has been a very successful year overall for the bulls.

The Dow Jones Industrial Average ended Friday at 12,463.15, down 38.37 points, or 0.31%. The S&P 500 was down 6.43 points, or 0.45%, at 1418.30, and the Nasdaq Composite gave up 10.28 points, or 0.42%, to 2415.29.

Only seven of the Dow's 30 components escaped losses. JPMorgan Chase (JPM Quote) was the biggest decliner, finishing down 1.3%. Intel (INTC Quote), the average's biggest loser this year with an 18% drop, was down 0.8% to $20.25.

The major indices started this holiday-shortened week on a high note, surging the first two sessions before edging lower on Wednesday.

During the previous day, the Dow slipped 9.05 points, or 0.07%, to 12,501.52. The S&P 500 lost 2.11 points, or 0.15%, to 1424.73, and the Nasdaq was off 5.65 points, or 0.23%, at 2425.57.

All told, the Dow jumped 120 points during the week, and the S&P 500 was higher by 7 points. The Nasdaq rose about 14 points. Volume was light to end the week, with 1.68 billion shares changing hands on the New York Stock Exchange. Decliners beat advancers by a 5-to-3 margin. Volume on the Nasdaq reached nearly 1.42 billion shares, with losers beating winners 3 to 2.