Large-cap U.S. stocks have outperformed virtually all comers over the past 15 years. According to some of the world’s largest investment banks, that is unlikely to change in 2025.

Wall Street's main indexes closed lower on Wednesday, with the Nasdaq leading declines, as technology stocks slumped on Thanksgiving eve on worries the Federal Reserve may be cautious about rate cuts after stubbornly strong U.

After two years of annual gains topping 20% for the S&P 500, Wall Street experts anticipate a moderate performance in 2025.