Stocks ended the year in a sell-off mood, giving up all the day’s gains. The losses accelerated towards the close. Despite Wednesday’s losses, it was an strong year for stocks. For 2014, the S&P 500 is up nearly 12%, Dow Jones Industrial gained 8% and the Nasdaq is up almost 14%. Volume was light for stocks but the action heated up in the energy space. Crude oil closed more than 1% lower. For the year, oil prices are down about 46%. Falling oil took down drillers. For the year, Transocean (RIG) is down more than 62%. Diamond Offshore (DO) dropped more than 35%. Both closed lower in today’s trading. 2015 will bring a pay raise for workers across the country. Twenty states will be raising their minimum wages on New Year’s Day. All the markets will be closed to commemorate New Year’s and will be back to business as normal on Friday, January 2nd.
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