Wall Street shifted lower in early trading Wednesday as markets took in more corporate earnings reports while considering the impact of tariffs being imposed by the United States and China.

It’s the bet Wall Street made as soon as Donald Trump was elected president. For all the threats of tariffs against US allies and rivals, stock vigilantes were skeptical that he’d do anything to really damage the stock market.

Shown below are year-end targets for the S&P 500 in 2025 set by various Wall Street banks and research firms. The chart also shows the implied upside or downside from the index's current level of 6,039. The list is by no means comprehensive, but most analysts expect the S&P 500 to move higher.

NEW YORK — U.S. stocks pulled back from their all-time high on Friday as they closed out a second straight winning week . The S&P 500 slipped 0.3% a day after setting a record. The Dow Jones Industrial Average dipped 140 points, or 0.3%, and the Nasdaq composite sank 0.5%.

Calm returned to Wall Street Tuesday, and tech stocks led U.S. indexes higher following a strong profit report from Palantir Technologies, a darling benefiting from the artificial-intelligence boom. The S&P 500 rose 0.

Most Wall Street analysts expect shares of Nvidia and Lam Research to soar in 2025. Nvidia's leadership in artificial intelligence accelerators is supported by an unparalleled software development platform.

Wall Street rebounds as tech stocks stabilize following AI-related sell-off, with mixed results in other sectors.

Wall Street is mixed in light trading early as anxiety dissipated somewhat after President Donald Trump agreed to a 30-day pause on his tariff threats against Mexico and Canada

The major stock indexes closed lower on Monday, but partly recovered from initial steeper losses as U.S. President Donald Trump delayed tariffs on Mexico after his orders to levy tariffs on three countries sparked a global scramble to safe-haven assets earlier in the day.

U.S. stocks initially fell sharply on worries about President Trump's tariffs but pared their losses after Mexico said it had negotiated a one-month reprieve.