Goldman Sachs predicts that the global stock market will continue to rise in 2026, but the returns will not be as high as this year.

Goldman Sachs strategists stated that due to corporate profit growth and the loose monetary policy of the Federal Reserve, global stock markets are still expected to continue to rise next year, but the return rate compared to 2025 will be more modest. Goldman Sachs strategists, including Peter Oppenheimer, stated in a report on December 18, "We still hold a constructive view on the stock market in 2026, as profits will continue to grow, but we expect that in the context of the bull market expanding, the index-level return rate will be lower than in 2025." Goldman economists expect "economic expansion in various regions, while the Federal Reserve will further loosen its monetary policy." The report states that the 12-month stock price forecast calculated by region market value weighting shows that the stock price return rate in 2026, denominated in US dollars, will reach 13%, and will reach 15% when dividends are included.