Wall Street strategists see further gains for the S&P 500 in 2025 as a broadening of earnings growth and a resilient US economy continue to drive the bull market rally.

U.S. stocks closed broadly lower Monday as a banner year on Wall Street looked set to finish on a sour note. The S&P 500 fell 1.1%, its third straight decline. Roughly 90% of stocks within the index lost ground.

Wall Street closed in negative territory on Monday in light volume at the top of a holiday-shortened week in the second-to-last trading session of an eventful year in which all three indexes posted strong double-digit gains.

Wall Street just wrapped up 2024, and let’s just say the mood wasn’t exactly festive. Investors were expecting the famous “Santa Claus rally” to close out the year with a bang, but that didn’t happen.

Stocks extended losses midday Tuesday, with Wall Street looking at four-straight red days to close out 2024. After opening in positive territory, the three major averages were lower. The S&P (SP500) was last -0.

Wall Street’s major indexes opened higher in the final trading session of 2024, extending a more than two-year-long bull run fueled by post-pandemic economic resilience, optimism over lower borrowing costs and a boost from the AI revolution.