Prepare for a lot of introspection in the coming week as the year draws to a close and Wall Street reflects on its ups and downs.

As it currently stands, the year turned out to be a good one for markets. Wall Street shook off the dual shocks of a Brexit outcome in June and Donald Trump win in November.

What's more, President-elect Trump's victory turned out to be somewhat of a boon. In particular, the Dow Jones Industrial Average soared to new records on hopes his proposed infrastructure spending plans would lead to growth and Wall Street-friendly Cabinet picks would unravel corporate regulations. The end of an earnings recession and steady improvement in the U.S. economy were also factors in improved investor confidence.

"Equities continue to trend higher and near all-time highs in anticipation of an improving economy and higher earnings, spurred by expectations that President-elect Trump and the GOP-controlled Congress will enact pro-growth legislation," said Terry Sandven, chief equity strategist at U.S. Bank.

The Dow was on track to close out 2016 with yearly gains of 14.4%. This year would mark only the fourth time in a decade that the Dow has closed with double-digit percentage gains. The Dow also looked to close out the year within range of the elusive 20,000 milestone.

The S&P 500 was no slacker, either, looking to close out the year with gains of 10.4%, a return to growth after a slight dip in 2015. Double-digit percentage gains would be the sixth time in a decade. 

Equity and bond markets will be closed on Monday in observance of the Christmas holiday. Trading will resume as normal on Tuesday.

On the economic calendar in the coming week, the S&P Corelogic Case-Shiller home price index for October and consumer confidence for December will be released on Tuesday; pending home sales for November on Wednesday; and Chicago PMI for December on Friday.

There are no earnings scheduled in the coming week.