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AP | Seth Wenig
A trader wears glasses celebrating the new year while working on the floor at the New York Stock Exchange on Tuesday.

Stock market ends year on a high note

The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.

The Standard & Poor’s 500 index notched its best year since 1997; The Dow Jones industrial average rose the most since 1995.

Trading was light on the last day of the year. U.S. markets will be closed Wednesday for the New Year’s Day holiday.

On Tuesday:

The Dow rose 72.37 points, or 0.4 percent, to 16,576.66.

The S&P 500 was up 7.29 points, or 0.4 percent, to 1,848.36.

The Nasdaq composite rose 22.39 points, or 0.5 percent, to 4,176.59.

For the week:

The Dow is up 98.25 points, or 0.6 percent.

The S&P 500 is up 6.96 points, or 0.4 percent.

The Nasdaq is up 20 points, or 0.5 percent.

For the year:

The Dow rose 3,472.52 points, or 26.5 percent.

The S&P 500 added 422.17 points, or 29.6 percent.

The Nasdaq rose 1,157.08 points, or 38.3 percent.