-- US stocks climbed, putting them on track to snap three days of losses and build on this year’s powerful Wall Street rally in the final session of 2024.
Investors have much to ponder going into 2025. Some are concerned about the stamina of the S&P 500’s 24% rally, driven by the so-called Magnificent Seven cohort of tech giants. There’s also a range of uncertainties to confront next year, from President-elect Donald Trump’s protectionist policies to the outlook for central bank policy and the health of the European and Chinese economies.
Elsewhere, European trading was muted, with several markets shut on New Year’s Eve and shortened sessions in London and Paris. Chinese equities shrugged off data that pointed to an improvement in both services and manufacturing activity. Investors also showed little reaction to President Xi Jinping’s remark that China’s 2024 economic growth is expected to be around 5%, a target set by policymakers earlier in the year.
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