Business

S&P 500 Puts Finishing Touch On Best Year Since 1997

A trader works on the floor of the New York Stock Exchange on Dec. 3, 2013. (credit: Getty Images)

A trader works on the floor of the New York Stock Exchange on Dec. 3, 2013. (credit: Getty Images)

NEW YORK (CBSNewYork/AP) — 2013 was a good year on Wall Street.

The Standard & Poor’s 500 index closed out its best year since 1997 on Tuesday as traders wrapped up a record-setting run.

The S&P 500 increased nearly 30 percent in 2013. For the full year, its total return was 32 percent including dividends, the biggest in 16 years.

On Tuesday, the index rose seven points, or 0.4 percent, to close at 1,848, its latest record close.

The Dow Jones industrial average increased 72 points, or 0.4 percent, to 16,576. The Nasdaq composite rose 22 points, or 0.5 percent, to 4,176.

Trading volume was very light.

The yield on the 10-year Treasury note rose to 3.03 percent from 2.97 percent the day before.

U.S. financial markets will be closed Wednesday for New Year’s Day. Trading will reopen on Thursday.

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