U.S. stock indexes closed their best week in two months with a flourish on Friday. The S&P 500 climbed 1% to clinch its first winning week in the last three. The Dow Jones Industrial Average rose 334 points,

BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

Global shares are mostly higher following a rally on Wall Street driven by encouraging update on U.S. inflation. Oil prices slipped and U.S. futures edged higher.

Can they regain momentum after Trump takes office? Wall Street’s so-called fear gauge has dropped this week, as the U.S. stock market appeared relieved that Treasury yields retreated from their recent climb.