US benchmark equity indexes ended lower on the last trading day of the year while posting double-digit gains in 2024.

Markets will be closed Wednesday for New Year's Day.

* US home prices increased to record levels in October, though annual price growth decelerated, S&P Global (SPGI) division S&P Dow Jones Indices said.

* "With the latest data covering the period prior to the (presidential) election, our national index has shown continued improvement," said Brian Luke, head of commodities, real and digital assets at S&P Dow Jones Indices. "Removing the political uncertainly risk has led to an equity market rally; it will be telling should the similar sentiment occur among homeowners."

* The housing industry is likely to begin 2025 facing the same headwinds it did this year, including mortgage rate volatility and seasonal trade underperformance, Wedbush Securities said.

* February West Texas Intermediate crude oil closed up $0.82 to settle at $71.81 per barrel, while March Brent crude, the global benchmark, was last seen up $0.84 to $74.83.

* Sangamo Therapeutics (SGMO) shares plummeted 56%, a day after the genomic medicine company said its partner, Pfizer (PFE), decided not to proceed with further development of a new gene therapy to treat hemophilia A, a bleeding disorder.

* Japan's Nippon Steel has offered the US government final say over any reduction in US Steel's (X) production capacity to win approval for the acquisition, The Washington Post reported.