Wall Street see-sawed amid choppy trading on Thursday, reversing earlier gains as investors embarked on the new year facing the cross-currents of solid labor market data, a rising dollar and tumbling Tesla shares.

U.S. stock indexes are falling Thursday to start 2025. The S&P 500 was down 0.6% in afternoon trading after rising as much as 0.9% earlier. It's coming off a four-day losing streak, its longest since early September,

U.S. stocks on Thursday experienced a choppy first trading session of 2025, in which they initially jumped, then seesawed and finally slipped into negative territory. Wall Street is attempting to rebound after closing out 2024 on a four-day losing streak.

Wall Street strategists see further gains for the S&P 500 in 2025 as a broadening of earnings growth and a resilient US economy continue to drive the bull market rally.

A soft finish to 2024 still left stocks with a second straight stellar year. The S&P 500 logged a 23.3% gain, which follows a 24% rise in 2023. The combined gains of more than 53% was the largest two-year percentage jump for the index since year-end 1998,

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Wall Street's main indexes edged higher in the volatile first trading session of 2025 as investors pinned their hopes on a fresh political landscape and more interest rate cuts, while Tesla slid after a dour deliveries report.