After Three Strong Years, A Banner 2026 For Stocks Looks Tough

Authored by Michael Ball, Bloomberg macro strategist,

History is the first red flag for 2026. After three straight years of strong gains, the market rarely hands you a fourth. 

US stocks can still grind higher, but the odds tilt toward a choppier, more average year given current valuations and the economic growth story being fine, but not thrilling.