Big banks' predictions for stocks in 2026

Since 2020, U.S. stocks — as measured by the S&P 500 — have delivered returns so strong they seem implausible, even in hindsight. Despite the shock of the Covid-19 pandemic, the index logged 18% gains in 2020 and a staggering 29% in 2021. It then endured a brutal slide in 2022, falling 18%. In 2023, it staged a major comeback, surging 25%. Yet another strong year followed in 2024, with total returns again north of 20%. Now 2025 is on track to deliver returns around 17%, despite dramatic falls tied to tari ...