NEW YORK |
NEW YORK (Reuters) – Stocks edged lower on Friday, the last trading day of 2011, as investors waited for next year to begin making large bets.
With the SP 500 on track for a slight gain for the year after returning to positive territory on Thursday, many market participants were expected to stay on the sidelines on what is typically one of the lowest-volume sessions of the year.
Volume this week has been about half the daily average, with many traders away for the Christmas and New Year’s holidays. The anemic action has amplified moves in both directions.
“We might get some volatility towards the end of the day as people position
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