Stocks end lower Friday, with S&P 500 still booking 26.9% annual gain for 2021

Stocks ended modestly lower on New Year’s Eve, with the Dow Jones Industrial Average DJIA, -0.16% losing its grip on slight gains late in the year’s final session. The blue-chip index shed about 60 points Friday, or 0.2%, to end near 36,338, still enough to solidify a 1.1% weekly gain, 5.4% advance for December and a quarterly climb of 7.4%. For the year, the Dow rose a robust 18.7%. That compares with the S&P 500 index SPX, -0.26% gaining 26.9% on the year, after also ended Friday’s session lower by about 0.3%. The Nasdaq Composite Index booked a 21.4% gain for 2021, while closing down 0.6% Friday.

White House taps insider to run agency that oversees Fannie, Freddie

President Joe Biden announced that he will nominate Sandra L. Thompson to lead the Federal Housing Finance Agency. Thompson has served as the agency’s interim director since June after the president fired the agency’s previous director, Mark Calabria. Biden’s ability to fire Calabria, who had been appointed by President Trump in 2019, was granted via a Supreme Court decision in a case involving shareholders of Fannie Mae and Freddie Mac. The FHFA is the main regulator overseeing the mortgage giants. According to the White House, Thompson has four decades of government experience. Before she joined the FHFA, she worked at the Federal Deposit Insurance Corp.

Streetwise: Dalio Discusses Debt & Deficits

Dalio Discusses Debt & Deficits

Ray Dalio speaks with Jack Hough on the “Streetwise” podcast and unpacks the outlook for inflation, debt and deficits facing the U.S. economy.

Streetwise: Ray Dalio on Possibilities of U.S. Civil War

Ray Dalio on Possibilities of U.S. Civil War

Ray Dalio, founder of Bridgewater Associates and author of the new book “Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail,” discusses how social division and polarization could lead to a major domestic conflict.