Stock market on the rise; Dow, Nasdaq and S&P 500 reach new heights

LINCOLN, Neb. (KLKN) — The stock market is on the rise.

When the market closed at 3 p.m. Wednesday, the Dow, Nasdaq and S&P 500 recorded new highs. The Dow was up 308.51 points, and the Nasdaq was up 254.21, and the S&P rose 36.61.

According to the latest reports from Wall Street, financial firms are expecting the market to boom in 2025.

Bank of America’s equity and strategy team is projecting that the U.S. economy will grow 2.4% in 2025.

It also thinks the S&P 500, which is a good indicator of how your 401(k) is doing, will hit 6,666 points by the end of the year.

It’s currently just over 6,000.

SEE ALSO: Stocks hit new highs after election. Will the Trump bump last?

A local financial adviser, Brett Shunkwiler, said investing at the right time could benefit you later on down the road.

“Just keep funneling those 401(k)s and investment accounts,” Shunkwiler said. “If you can get a little bit extra, your investment accounts will be thanking you.”

A report from Yahoo Finance says several other firms are projecting even bigger growth, including Wells Fargo and Deutsche Bank, which both expect the S&P to top 7,000 by the end of 2025.

Shunkwiler feels there’s one main reason for the high forecasts.

“The biggest one is the Trump factor,” he said. “People know we had Trump in the past, and the stock market was good during that time frame.”

We asked users of the NOW Local News App what they thought, and they have hope that things will improve.

“I believe the economy will be much better in 2025 with prices going down,” Kevin said.

Melanie added, “I hope this means really great things for people who have invested in stocks or are looking at their 401(k)s and needing those make up in gains for what they’ve lost recently.”