U.S. Equities started the year strongly, with major indexes reaching new highs and gains spreading beyond the largest stocks. Improved performance from smaller companies and equal-weighted benchmarks pointed to broader, healthier market participation.
The Federal Reserve held rates steady, balancing solid economic activity and stable labor market against inflation that remains above target. The dollar weakened amid rising geopolitical uncertainty, driving interest in hard assets, while the global outlook remains cautiously positive, supported by technology investment but constrained by geopolitical and fiscal risks.
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