Asian markets rose on Friday after U.S. stock indexes slipped as Wall Street’s weak end to last year carried into 2025. U.S. futures and oil prices rose. Japan's market is closed for the New Year holiday.

A soft finish to 2024 still left stocks with a second straight stellar year. The S&P 500 logged a 23.3% gain, which follows a 24% rise in 2023. The combined gains of more than 53% was the largest two-year percentage jump for the index since year-end 1998,

Investors head into the new year believing the economy on a firm footing. That wasn’t the case at the start of 2024, when even the most bullish analysts underestimated the strength of the market.