Canaccord Genuity’s latest note suggests the S&P 500 could deliver a fourth straight year of gains in 2026, despite short‑term market jitters. The brokerage cites a “strong case” for a positive 2026, pointing to a 2026 Outlook that sees modest growth acceleration, inflation staying under control, and continued rate cuts. Analysts note that the final weeks of 2025 left the economy with a stronger footing, a factor that could lift the index.

On the macro side, political shifts in Venezuela might become an unexpected tailwind if they unlock more oil supply from the country’s roughly $300 B stockpile. A slowly thawing housing market could also help keep price pressures in check. Consensus forecasts project 2 % real GDP growth and 2.8 % CPI inflation, but the firm warns that macro estimates tend to be conservative at year’s start.

Tactical gauges remain mixed, with neutral‑zone indicators and overbought signals from the weekly stochastic and NAAIM Exposure Index. Investors will watch how these factors play out as the year unfolds.