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U.S. equity indices marginally advanced on Friday, maintaining their position near recent highs amid subdued holiday trading. This uplift is supported by expectations of continued economic growth and a more favorable monetary policy that could bolster earning opportunities. All three major indices stayed just above breakeven, with the S&P 500 achieving a new high of 6,994. Despite positive sentiments that corporate revenues will remain strong, doubts persist regarding the scale of potential rate cuts by the Federal Reserve next year. Additionally, ongoing concerns about the potential exaggeration of capital spending in AI infrastructure tempered what could have been a more pronounced year-end rally. In the commodities sector, precious and base metals continued their upward trend, with Freeport-McMoRan seeing gains of over 2.5%. Oil producers were positioned for gains as well, following the U.S. administration's intensified rhetoric against Venezuela's government and its oil facilities. Meanwhile, Nvidia saw a 1.5% increase after announcing a licensing agreement with AI startup Groq.
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