Some outlooks for 2026

Major financial institutions are now publishing their 2026 outlooks. Goldman Sachs forecasts moderate equity gains next year supported by strong earnings and elevated AI capital expenditures. Reuters’ global markets overview highlights a mixed macro backdrop with divergent monetary policy and geopolitical risks. On the European front, Goldman lifted its 12-month STOXX 600 target, reflecting growth expectations for European equities. 

Below are some outlooks for 2026 by some institutions with a whole lot of knowledge. With a quick google-search you can find plenty more.

• JP Morgan: “J.P. Morgan’s year-start outlook for 2026 highlights how structural risks — from geopolitics to energy — could shape returns and market volatility.” 

• Goldman Sachs: “Goldman Sachs projects further market gains in 2026, albeit at a more measured pace, driven by strong earnings, economic expansion and elevated AI capex.”

• Reuters: “Reuters notes that markets in 2026 will face mixed drivers — from political uncertainty and monetary policy divergence to potential corrections following 2025’s strong performance.”

• BlackRock: “Provides a nuanced macro perspective focusing on global balance sheet dynamics, sector dispersion, and cautious positioning in a potentially fragile market equilibrium.”

• Deutsche Bank: “Deutsche Bank Research expects a year of growth supported by AI investment and broader economic developments, with central bank policy and yield dynamics shaping markets.”

• Bergos: “Highlights expectations for eurozone growth and inflation trends, plus equity positioning adjustments amid changing rate expectations.”

Sources: JPM, GS, Reuters, BlackRock, DB, Bergos, Business Insider, Boliviainteligente