After two years of impressive gains exceeding 20% for the S&P 500, analysts predict a more tempered performance in 2025, with expectations of a 7% to 14% increase. While strong corporate earnings and resilient economic growth are anticipated to support the market, concerns over volatility due to potential Federal Reserve rate cuts and political uncertainties loom large. The median target for the S&P 500 is set at 6,600, with projections ranging from a conservative estimate in the mid-5000s to an optimistic outlook of 7,100.