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The "Magnificent 7" ruled investments last year, with a combined market value almost matching Canada, China, Japan, the UK, and France combined.
Oil prices rebounded after a 3% drop on Friday as more shipping firms prepared to resume Red Sea routes, alleviating supply concerns.
Global stocks hit a one-year high, and the dollar reached a five-month low on expectations of early interest rate cuts by major central banks.
Asian oil prices dropped after a 2% gain, with major shipping firms like Maersk and CMA CGM resuming operations in the Red Sea.
During Christmas, Asian stocks traded flat; many markets closed. US stocks ended mixed on Friday due to lower-than-expected inflation.
Gold hit a 2-week high on lower Indian demand. It rose for 2 weeks as the dollar and yields fell, driven by rate-cut expectations.
Thin holiday trading weighed on the dollar. Attention shifts to US PCE data are unlikely to halt the ongoing bearish trend.
Thursday's oil price drop, driven by rising US crude inventory, outweighed Middle East tensions' supply disruption impact, raising demand concerns.
Boosted by rising oil prices and a weaker US dollar, the Canadian dollar stood strong on Wednesday, hitting a 4.5-month high in the prior session.
Iran-backed Houthi disruption fuels Tuesday's oil price surge, defying US warnings and impacting the Red Sea energy trade.
Asia stocks dip after a mixed US close amid a dollar and Treasury yield rally. Nasdaq 100 hits a new high, poised for the best year since 2009.
Friday saw European currencies rise, led by hawkish policymakers. The Swiss franc gained 5% against the euro this year, hitting a peak since Jan 2015.
Asian oil prices surged, continuing the momentum from the US crude storage decline and the dovish Fed, with gains extending into Thursday's early trade.
Investors believe the FOMC will maintain interest rates this month. They anticipate a 100 bps cut in 2024, raising doubts about its likelihood.
