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.

U.S. stocks fell Friday on worries that good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high. The S&P 500 tumbled 1.5% to close its fourth losing week in the last five. The Dow Jones Industrial Average dropped 696 points, or 1.6%, and the Nasdaq composite sank 1.6%.