Stocks are on track for a third straight year of stellar returns. Why a fourth isn’t out of the question.



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In a few days, investors will wrap up another solid year for the U.S. stock market.

Despite volatility that nearly sent the index skittering into bear-market territory in April, the S&P 500 index

SPX was on track to finish 2025 with a respectable 17.8% advance as of Friday’s close, before factoring in dividends, FactSet data show.


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