The S&P 500 gained 23% in 2024, nearly matching the 24% rally last year. Analysts are expecting the bull run to continue next year, though at a slower pace.

Wall Street lost ground on Tuesday as investors closed the book on a remarkable year for equities, during which the stock market was powered to record highs by the twin engines of the artificial-intelligence boom and the Federal Reserve’s first interest rate cuts in three-and-a-half years.