It was an especially festive New Year’s for investors. The S&P 500 soared by 23 percent in 2024 to cap the best two-year run in a quarter-centuryssbet77, a rally that even many of Wall Street’s biggest bulls failed to predict.
This year, market veterans expect to see solid gains — but no repeat, DealBook’s Bernhard Warner reports. Why? There’s uncertainty — about the Trump administration’s economic agenda, inflation and the Fed’s next move on interest rates — amid concerns that investor fervor has made some stocks, especially those tied to the artificial intelligence boom, too pricey.
What experts are predicting: They see the benchmark index climbing to just below 6,700 by the end of 2025, according to FactSet, for a gain of about 13 percent from Tuesday’s close.
If analysts’ models are correct, it would mark a third consecutive year of double-digit annual gains for the S&P 500. The futures market on Thursday points to a gain at the opening bell.
ImageThe bull case for markets goes something like this: Consumers will continue to spend — but not so much that they re-accelerate inflation — and companies will again invest robustly in R.&D., buoying corporate profit and economic growth.
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The Republican preparations have taken place at Mr. Vance’s home in Cincinnati and in online sessions with members of his own inner circle and Jason Miller, a Trump campaign strategist. Mr. Vance’s team also pointed to his frequent media interactions on the campaign trail as helpful prep for the debate spotlight. Mr. Vance has offered a potential preview of his debate strategy by repeatedly questioning Mr. Walz over his military service and attacking him as an out-of-touch liberal.
More bleak headlines follow: “Bidenomics FAILED.” “Bidenomics is a RECORD FAILURE.” “Americans’ incomes down THREE STRAIGHT YEARS.” “Unemployment RISING.” “America may soon be in a RECESSION.”
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