The U.S. stock market is wrapping up an unexpectedly strong year, with double-digit percentage gains for the third straight year, Crossmark Global Investments CEO Bob Doll noted Monday, citing good earnings growth with better-than-anticipated results from artificial intelligence-related companies.
The 20% drop tied to tariffs turned into a 40% recovery for the S&P 500, Doll, who also serves as chief investment officer, noted in his annual review.
“Looking ahead to 2026, investors are expecting yet another year of double-digit earnings and stock market gains,” despite high valuations, he wrote.
“Our guess is that earnings will be good, but once again fail to achieve consensus expectations and that valuation levels may fall some (finally!). In all, a tougher year to make money. No matter what transpires, the investment landscape will undoubtedly be exciting and challenging.”
Doll releases his 2026 predictions on Dec. 31. Meanwhile, he reports that he was right on seven of his 10 predictions for 2025, in keeping with his firm’s long-term average. Check the gallery to see how Doll graded Crossmark’s predictions for this year.
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