Recently, the actions on Wall Street have been quite interesting. A group of institutions have preemptively brought up the 2026 US stock market outlook. This is not very common in previous years, but this time their excitement is truly hard to hide.

Ultimately, the reasons are actually quite straightforward.

Inflation has eased, with the CPI hovering around 2.7%. Rate cuts are just a matter of time. Once liquidity loosens, it will be a big positive for the stock market, which is fundamentally driven by capital.

Looking at policy, the combination of tax cuts and accelerated depreciation essentially sends one message: don’t delay, invest now, act now. Companies benefit the most from this, and capital flow is inevitable.

But what really hooks Wall Street is AI. Not just hype around concepts, but real efficiency improvements and empowerment. Goldman Sachs has hinted that AI could directly boost the profitability of the S&P 500. Capable of calculating clear returns and with room for imagination, this kind of thing is most attractive to capital.

Of course, risks cannot be ignored. The threat of AI replacing jobs will eventually explode. The market afterward will definitely be polarized rather than a broad rally—some will benefit, others will be eliminated.

But the window period where rate cuts, tax reforms, and AI all come together is honestly quite rare. Now, capital is no longer concerned with daily ups and downs; everyone is calculating one thing: two years from now, will I be on the winning side?