#2026年美国股市展望 Global stock markets are staging a long-awaited feast

Double-digit gains for three consecutive years have become the norm. The MSCI Global Index has risen 20% in a single year, far exceeding market expectations. Looking at the US stock market, the S&P 500 has gained 16.5% for the year— that crash at the beginning of the year seemed almost fake, and the subsequent strong rebound wiped out all pessimism.

Objectively speaking, this year has not been smooth sailing. Tariff pressures, AI valuation bubbles, frequent plunges in tech stocks, and the market has teetered multiple times. But the amazing part is—every time there’s a dip, funds choose to come back.

The logic supporting this rally is actually quite clear: corporate earnings data exceeded expectations, expectations of rate cuts continued to push up valuations, and economic growth momentum is not as weak as imagined. These three forces combined have directly driven the index higher and higher.

Looking at crypto assets, $BTC, $ETH, and $SOL are also riding the wave of global liquidity. The entire market seems to be signaling— as long as the fundamentals can support it, short-term noise is simply not an issue.

Looking ahead to 2026, how long can this style last? Perhaps it depends on the Federal Reserve’s next move, and whether companies can continue to deliver unexpectedly strong results.