The Market Brief
Hey team, good morning and Happy New year! Markets are set for a higher open on the first trading session of 2025 with trading volumes expected to remain light in this shortened week.
Let’s see what’s ahead for the market!
Macro Viewpoint
US equity futures climbed, fuelled by renewed optimism in tech stocks, suggesting Wall Street is on track to rebound from the four-day slump that closed out 2024.
Stocks appear ready to break a losing streak that briefly dimmed the S&P 500’s remarkable two-year performance, the best since the late 1990s.
Since the beginning of 2023, the index has soared over 50%, propelled by the "Magnificent Seven" tech megacaps and growing enthusiasm for the profit potential of artificial intelligence.
Contributing to the market’s stellar 2024 gains were the Federal Reserve’s first interest rate cuts since 2020, and expectations of corporate benefits from policies anticipated under President-elect Donald Trump.
