The first trading day of 2026 has already begun. Have you finalized your investment plans for the new year?

Bloomberg recently compiled over 700 forecast reports from top Wall Street investment banks, with the brightest minds in finance sharing their outlook for the coming year. Overall, the market sentiment is "cautiously optimistic"—generally believing that the economy will remain resilient and continue to move forward.

Although geopolitical risks and trade frictions persist, two forces are sustaining the global economy: policy support and an unprecedented AI investment boom. These two engines are expected to drive the economic cycle forward. However, there are also many pitfalls—asset valuations are generally high, and inflationary pressures may resurface, meaning investors need to be more flexible and diversify their asset allocations.

How does Wall Street view the macro outlook? In simple terms, the growth in 2026 will mainly come from a dual engine of "capital expenditure" and "policy support." The intense investment in the AI industry continues, which remains a market focus.

From an asset allocation perspective, relying on a single direction is no longer sufficient. Expectations for the performance of stocks, bonds, commodities, and cryptocurrencies are all adjusting. Especially under the AI wave, tech assets still have opportunities, but risk management must be incorporated into the strategy.

The key is to understand that the market is shifting from a single growth story to a more complex multi-factor game. To outperform in 2026, one must be optimistic about the long-term prospects of AI while also guarding against valuation corrections.