Global stock markets head into the final stretch of 2025 with a familiar mix of optimism and unease: a late-week rebound in technology shares helped steady Wall Street, Europe’s benchmark closed at a record high, and Japan’s policy turn kept currency traders—and global investors—on alert. Reuters+1 With markets largely closed on Saturday, December 20, the focus is on what Friday’s price action is really saying about the weeks ahead: whether the rally can broaden beyond mega-cap tech, how quickly central banks can cut rates in 2026, and whether fresh geopolitical risks—most notably around oil—could revive inflation worries just as investors