Traders expect minimal activity this week as the market slouches toward the end of a year many would rather forget.

Reid Smith, an assistant vice president at the Vanguard Group of Investment Companies, said "exhaustion" is the word that best characterizes 1994, adding that the market has weathered storms from a variety of fronts. "The Fed, the rate hikes, the market discount rule, the Orange County fiasco, they're all just sort of piled on top of each other to lead towards a very frustrating year for a lot of people," he said. "The market sort of just wants to get the heck out of [this] year, and start a new year."

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