What to Expect This Year in Markets: Five Experts Weigh In

Alex Chaloff: Bernstein Private Wealth Management’s chief investment officer is concerned about a reckoning with the huge gains in artificial-intelligence stocks.

Saira Malik: Nuveen’s CIO thinks there is more upside ahead for the technology and AI trade.

Jack Ablin: Cresset Capital’s chief investment strategist expects that both value stocks and small caps will benefit from interest-rate cuts and lower financing costs.

Larry Adam: Raymond James’s CIO thinks stocks will have a more modest 2026, projecting a roughly 4% gain for the S&P 500.

Rob Arnott: Research Affiliates’s founder is putting money into areas that look cheaper and less loved, such as international and value stocks.