LIVE MARKETS-Bartels sees S&P 500 ending next year at 7,500 with tech leading
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BARTELS SEES S&P 500 ENDING NEXT YEAR AT 7,500 WITH TECH LEADING
Mary Ann Bartels, chief investment strategist at Sanctuary Wealth, expects the S&P 500 .SPX to reach 7,500 by the end of 2026 and that technology stocks will maintain their leadership.
The S&P 500 was last at about 6,625.
"The equity market remains in a global secular bull market as we enter 2026," she writes in a 2026 outlook note Friday.
While she expects volatility in 2026, she sees sector rotation "to and around" growth and value, but sees growth staying in the lead. In addition, she expects tech and tech-related stocks to maintain their leadership.
"Semiconductors, we believe, remain the key leadership industry with insatiable demand driven by data centers – the new main infrastructure being built in the United States," she writes, adding: "the Value areas of Healthcare and Energy, which have significantly lagged in performance, have improved – but we don’t expect a change to leadership by these sectors."
An index of semiconductors .SOX is up about 29% for the year to date.
Stocks are not in a bubble, she says, but the market may be moving into "an early bubble period."
"When we overlay the S&P 500 with the equity market from the 1920s, the current market is tracking the pattern from 100 years ago. So, we believe we are moving into the early phase of what will eventually become a bubble. Within a secular bull market, some of the greatest returns come in the last years of that trend – up 166% on average over the last five years."
Worries about exuberance in the artificial intelligence trade and high valuations have pressured stocks lately.
(Caroline Valetkevitch)
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