In recent months, market watchers have been anxiously watching slowing job growth, persistent policy uncertainty, and soaring big tech valuations. The question on many minds is when the market will roll over.

We examine this question and offer a look ahead in our Q1 2026 Market Commentary.1 Our analysis of the 2025 and early 2026 data shows that, amidst the noise of tariff concerns, AI speculation, and labor market worries, the real drivers of market gains have been constructive: resilient earnings, easing financial conditions, and an economy that continued to expand.

Our report also addresses the resurgence of “bubble” narratives surrounding AI and mega-cap stocks, and offers an investor-focused overview for thinking about opportunity and risk heading into 2026. Topics include:

  • Why earnings—not speculation—drove market gains in 2025
  • How easing financial conditions are shaping the 2026 outlook
  • What slowing job signals about recession risk
  • A clearer perspective on AI, valuations, and concentration concerns
  • Why patience and discipline mattered during 2025’s volatile periods

If you have $500,000 or more, fill out the form to get your free report today!

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