Stock indexes headed lower on last day of year

NEW YORK (AP) — Investors are taking profits after a strong year in the stock market.

The Standard Poor’s 500 index and the Dow Jones industrial average are both up 14 percent for the year, including dividends, as a result of solid corporate earnings. The Nasdaq composite index, meanwhile, is up about 18 percent for the year after dividends.

That’s sending major indexes lower on the final day of trading as investors lock in gains, or sell underperforming stocks to reap a tax benefit.

Ahead of the opening bell Friday, Dow Jones industrial average futures are down 14, or 0.1 percent, at 11,508. Standard Poor’s 500 index futures are down 2, or 0.2 percent, at 1,252. Nasdaq 100 index futures are down 1, or 0.1 ppercent, at 2,223.

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