economy
December 29, 2025
Wharton’s Jeremy Siegel thinks the market’s gain next year will be much more modest. Here’s why
Wharton professor emeritus Jeremy Siegel believes that a slowdown in the 'Magnificent Seven' stocks next year will drag the overall stock market lower.

TL;DR
- Jeremy Siegel predicts the stock market's momentum will decrease next year.
- The S&P 500 is expected to rise between 5% and 10% in 2026, a slowdown from its 2025 performance.
- Non-Magnificent Seven stocks could potentially see gains of 10% to 15% in 2026.
- Siegel cites waning momentum among the 'Magnificent Seven' cohort as a reason for the expected slowdown.
- Potential near-term headwinds include government shutdowns, Federal Reserve chair announcements, and Supreme Court decisions on tariffs.
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