Trader Peter Tuchman works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., December 21, 2016. REUTERS/Andrew Kelly
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U.S. stocks pared the biggest annual gain in at least two years as indexes slipped in light holiday trading.The S&P 500 Index cut its gain in 2016 to 9.7 percent, while the Dow Jones Industrial Average was poised to finish the year below 20,000 after climbing within 30 points earlier in the week. The Dow Jones Industrial Average rallied 14 percent this year, led by gains of at least 30 percent in Caterpillar Inc., UnitedHealth Group Inc. and Goldman Sachs Group Inc. Nike Inc.'s 18 percent slump made it the dog of the index.Emerging-market stocks rose for a fifth day, padding an 8 percent advance that is the best since 2012 . The MSCI Asia Pacific Index was little changed, up 2.1 percent for the year, its first annual gain since 2013 .CurrenciesThe euro rallied as much as 1.6 percent before paring its advance to 0.5 percent and trading at $1.0539 .
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