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.

Wall Street was heading for more gains before the open on Friday as markets try to log their first winning week of 2025 on the final day of trading during the Biden presidency. Futures for the S&P 500 climbed 0.

Markets are mixed before the opening bell on a busy Thursday that will bring the latest government report on retail sales, weekly applications for unemployment benefits, and a slew of corporate earnings reports.