Josh Schafer Reporter Josh Schafer is a reporter on the Yahoo Finance Markets team. Most Recent Consumer confidence rises to highest level since July 2023 Consumers said they are feeling better about the US economy as fears of a slowdown in the labor market continue to fade. Wall Street still doesn't know what to make of Donald Trump: Morning Brief Wall Street's debate over what parts of Donald Trump's proposed policies will actually be enacted in 2025 have led to a choppy few weeks of trading action. Wall Street issues its most bullish S&P outlook yet for 2025 Deutsche Bank chief global strategist Binky Chadha has a 2025 year-end S&P 500 target of 7,000 as he believes the US economy will continue to expand over the next year. S&P 500 seen reaching 6,600 next year by strategists at RBC, Barclays Strategists see falling inflation, resilient economic growth, and rising earnings driving further returns for the S&P 500 in 2025. Fed's preferred inflation gauge highlights holiday-shortened trading week: What to know this week Investors will be closely watching a fresh reading on inflation for clues on the Fed's interest rate-cutting path. US economic output hits highest level since April 2022 amid 'greater optimism' among businesses The uptick in business activity was largely driven by the services sector. Stock market today: Dow, S&P 500 jump after Nvidia earnings, while Alphabet tumbles Investors are digging into Nvidia's earnings for insights into the AI boom. Jobless claims fall to 7-month low, show labor market 'trending sideways at a healthy level' Weekly unemployment claims continue to move lower as labor market data normalizes following hurricane disruptions throughout the fall. Stock market today: Dow, S&P 500 eke out gains ahead of Nvidia earnings Nvidia's results are seen as a reality check on just how important the AI chipmaker is to the rally in stocks. Goldman Sachs sees S&P 500 hitting 6,500 in 2025 amid 'narrowing' Big Tech outperformance Goldman Sachs sees the S&P 500 gaining 11% over the next year as stock market gains continue to broaden out from a few large tech names. Wall Street strategists aren't relying on AI to drive the stock market rally anymore: Morning Brief AI prospects are no longer the key reason why Wall Street strategists see the bull market rally reaching new highs. Wall Street forecasts 'normal' year for stocks in 2025 after historic rally After two years of massive gains in the S&P 500, one of Wall Street's biggest bulls thinks the rally will take a "breather" in 2025 as small stocks lead the index higher. Stock rally stumbles with Nvidia earnings on tap: What to know this week Quarterly results from AI-leader Nvidia greet a stock market grappling with uncertainty about the Fed's interest rate plans and the impact of president-elect Donald Trump's potential policies. October retail sales top estimates, September spending revised sharply higher October's retail sales report will be closely watched by investors for signs that the US economy remains on solid footing as the Federal Reserve begins to cut interest rates. Moderna, Novavax stocks slide after Trump nominates Robert F. Kennedy Jr. to be top health official Vaccine stocks slid late Thursday as reports stated noted anti-vaccine politician Robert Kennedy Jr. will serve as the next head of the Department of Health and Human Services. Stock market today: Dow, S&P 500, Nasdaq slide as Powell says Fed in no 'hurry' on rate cuts Stocks moved lower after Federal Reserve Chair Jerome Powell said the central bank is in 'no hurry' on rate cuts. 2 firm inflation prints just made the Fed's 2025 rate cut path a lot 'murkier' Strong inflation readings in October have economists arguing that the Federal Reserve will likely cut interest rates by less than initially thought in 2025. The IPO window could reopen after 2 brutal years amid Trump trade 'exuberance' Experts believe that if the Trump trade continues to drive the stock market rally higher, a flood of IPOs will soon follow suit. Stock market today: Dow leads stocks down as rally takes a break before CPI report Investors are assessing whether the post-election rally is about to stall and what Donald Trump's Cabinet picks mean for policy. The FOMO market is back: Morning Brief The recent surge in stocks is absolutely explained by the Trump trade. But it's not the only thing going on: There are other reasons why the FOMO trade is back.