The S&P 500 Index rose by 23%, with more than half of the gains coming from Technology giants, but as profit growth slows, they may still struggle to maintain market dominance in 2025. Lisa Shalett, Chief Investment Officer of Morgan Stanley Wealth Management, stated on Thursday that the slowdown in profits "may catch some die-hard investors betting on these very high double-digit return numbers by surprise. The idea that they can be traded together as a whole and lead the market may be shaken in 2025." Shalett noted that some profit expectations included in stock prices "may be overly ambitious."