Wall Street strategists were surprised by the S&P 500’s continued rally, soaring to a 23% gain in 2024, contrary to modest expectations. Forecasters revised their targets upward, driven by strong economic expansion, AI advancements, and Trump’s tax promises. Few expect the rally to end in 2025.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.