While the headlines are all about Trump’s many executive orders of the day, the chaos has had little impact on stocks. Since the inauguration on January 20th, the S&P 500 is up 2%. Contrary to popular opinion, this has little to do with the Trump administration and more to do with positive corporate earnings results for the fourth quarter of 2024 and a generally positive outlook for earnings in 2025.

Bull or Bear? We take a look at the outlook for the stock market in 2025. Will AI be enough to drive gains in 2025 or are valuations already stretched too far on AI optimism?

A brief recap of the U.S. stock market performance in 2024. What worked, what didn’t, and why.