Wall Street: dull end of year market action, off the highs

Wall Street closed a touch lower on Wednesday and off the record highs seen previously.

The Dow Jones Industrial Average closed 32.66 points, or 0.2%, lower at 19,941.96, up 14.4% year to date. The S&P 500 index follows behind the Dow for the year so far by more than 3 percentage points and on Wednesday it dropped 5.58 points to 2,265.18, a fall of 0.1%. Finally, the Nasdaq Composite Index also fell, but by 12.51 points, or 0.2%, to 5,471.43. The markets are quite dull at the end of the year so far, but thinner liquidity can result in large swings in prices, however nothing of such activity yet.

US Economic Forecast 2017: It's been emotional... and Trump hasn't even been inaugurated yet

The mood is one of consolidation, time to reflect over the holiday season and pensive towards a Trump presidency that has fuelled a risk on rally due to his proposed reflationary policies for reform, sending markets to record highs on Wall street and the dollar through critical resistance in the DXY, of which Harry Dent calls for 120.00 in the foreseeable future.

You can watch a clip of an interview with Harry Dent here and find out his forecasts for 2017: