Wall Street bullish voices, Bank of America sings alone "Cooling Off" counter-trend: After the S&P 500 has surged for three years, it will enter the "low excess return" stage next year.

According to the Securities Times APP, Bank of America stated that after achieving double-digit returns for three consecutive years and having its valuation pushed to a high level, the US stock market has very limited room for excess returns in 2026.