Wall Street opens 2025 with more modest losses
LA TimesTraders work on the floor at the New York Stock Exchange in New York’s Financial District on Jan. 2, 2025. U.S. stock indexes slipped Thursday as Wall Street’s weak end to last year carried into 2025. Consider a measure tracked by Bank of America of how heavily Wall Street analysts are recommending stocks, which recently hit its highest level since early 2022, according to strategist Savita Subramanian. As the calendar flips to a new year, Wedbush analyst Dan Ives says it’s the ”same tech playbook in year 3 of this tech AI driven bull market,” for example. Upbeat talk by Chinese leader Xi Jinping in a New Year’s address did little to raise optimism among investors who are hoping for more aggressive action to support the world’s second-largest economy and boost stock prices.