Volatility from trade policy uncertainties and geopolitical tensions couldn’t derail market progress in 2025, with strong gains across stocks, bonds and commodities during the year.
Investors can expect much of the same in 2026, according to Bob Doll, CEO and chief investment officer of Crossmark Global Investments, who released his annual market predictions just ahead of the new year.
“2026 promises to be anything but dull,” Doll wrote. “Rapid Al investment and adoption will likely continue to dominate market sentiment, and given the pace of technological advancement, it is hard to imagine this won't ultimately deliver meaningful productivity gains.”
The winners and losers, Doll emphasized, will depend on the complex interplay of evolving forces — many of which may not become apparent until after 2026.
“In the meantime, markets could continue to swing sharply between boom-and-bust narratives,” Doll projected.
Looking back, Doll said his 2025 outlook — summed up under the theme of "fewer tailwinds, more tail risks" — ended up being overly conservative. “Relatively behaved” inflation, strong corporate earnings and central bank interest rate cuts all played a positive role. Of major assets, Doll noted, only oil dropped noticeably.
2026’s theme is somewhat more optimistic: “high-risk bull market.”
See the accompanying slideshow for a look at Doll’s 10 predictions for 2026.
Pictured: Bob Doll
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