BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

U.S. stocks are recoiling on worries that good news on the job market may prove to be bad for Wall Street by keeping inflation and interest rates high.

Wall Street's most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts.

U.S. stocks dropped on worries that good news on the job market may prove to be bad for Wall Street by keeping inflation and interest rates high.

U.S. stock futures quickly tumbled after the government said U.S. employers added a stronger-than-expected 256,000 jobs in December. Economists were expecting hiring to increase by 153,000. Futures for the S&P 500 fell 0.

US stocks plunged on Friday following a stronger-than-expected jobs report, tempering Wall Street’s hopes for additional interest rate cuts by the Federal Reserve in the near term. The Dow Jones Industrial Average sank by 592 points,