US Stocks To End the Year With a Run of Losses – Europe Market Wrap

US equity futures rose somewhat, putting markets on track to reverse three days of losses and expand on this year’s strong Wall Street rise.

Contracts for the S&P 500 increased 0.3%, indicating a minor recovery after Monday’s 1.1% drop. European trade was modest, with several markets closed on New Year’s Eve and shorter sessions in London and Paris.

A cautious tone in equities markets reflects ongoing doubts about the strength of this year’s 24% S&P 500 rise, which was led by the so-called Magnificent Seven cohort of tech titans. It also demonstrates the risks that investors will face in 2025, which include President-elect Donald Trump’s protectionist policies, the forecast for central bank policy, and the health of the European and Chinese economies.

Gold was steady and on track for one of its largest annual gains this century after rising 27%. Oil prices rose after industrial activity increased for the third month in China, the latest sign of economic revival in the world’s largest petroleum importer.

European gas prices surged ahead of a stop in Russian shipments through Ukraine on New Year’s Day, when a transit agreement between the two countries ends. On Tuesday, petrol prices for February jumped by up to 2.2%.