About the Speaker

The S&P 500 recorded a “three-peat” in 2025, or three successive years of double-digit gains. What is the likelihood of scoring a “four peat?” Even though CFRA thinks the bull will remain intact by year-end, it projects increased volatility along with a lower-than-average full-year percentage increase. Why so cautious? Still-high valuations, an elevated Buffett Indicator, a softening jobs market, late-cycle and defensive sector leadership, combined with mid-term elections that typically present formidable headwinds. Offsetting tailwinds include the fourth year of this bull market and double-digit earnings growth expectations, not only for 2026 but also for 2027. Sam Stovall, CFRA’s Chief Investment Strategist, will discuss what the market’s recent rotation implies for investor returns in the year ahead.