From Bloomberg

• "Global stocks edged lower in holiday-season reduced volumes as a powerful rally in technology shares falters in the final trading sessions of 2024.

• US equity futures signaled a weaker open on Wall Street after Friday’s retreat, which was marked by a pullback in tech megacaps. Europe’s Stoxx 600 index trimmed earlier declines, while Asian stocks snapped five days of gains.

• The so-called Magnificent Seven cohort of US tech giants has driven a 25% advance in the S&P 500 this year, while prompting some to worry that the gains are too concentrated in a small group of names. Still, few are calling for the rally to end and none of the 19 strategists tracked by Bloomberg expects the S&P 500 to decline next year. 

• “In these moments, it’s best to stay put,” said Nicolas Domont, a fund manager at Optigestion in Paris. “The US remains the place to be. Growth stocks continue to outperform and earnings forecasts are good, so there are good reasons to remain optimistic.”

• Treasuries rose, with 10-year yields dropping from near the highest levels since May. The euro strengthened and German bonds erased an earlier advance after data showed Spanish inflation accelerated more than anticipated, supporting the case for gradual interest-rate cuts from the European Central Bank."