Morgan Stanley says there are four key themes that will drive the market in 2026: a multipolar world, the proliferation of technology, social change, and the future of energy.
Let’s take a look at each one, starting with the concept of . multipolar world. For Morgan Stanley, the world is becoming less global as governments become more protectionist.
“It is clear that policymakers around the world are implementing policies that accelerate the decentralization of globalization that characterized much of the post-Cold War era,” Stephen C. Byrd, the bank’s equity strategist, said in a note to clients on Thursday. “More simply, policymakers are keen to promote a vision of national and economic security through less open commerce and more local control of supply chains and key technologies.”
Second, banks think: AI will continue to be introduced It is widely provided to companies and contributes to improving profits. According to MS, stock prices are determined by whether a company has sufficiently incorporated AI.
Third, energy demand Thanks to the creation of AI infrastructure, we have turned a corner. Energy demand has been declining for the past several decades, but has now soared to an all-time high.
“We expect total U.S. energy consumption to increase by 10% over the next decade, reversing decades of decline, and surpassing the previous peak recorded in 2007 by 2030,” Bird wrote.
Finally, social change These problems are occurring (thanks to AI) in areas such as work, aging, and longevity.
“Multiple trends are driving widespread social impacts around the world, with impacts across an astonishingly wide range of industries,” Bird wrote. “Job disruption/evolution from AI, aging populations, changing consumer preferences, promoting healthy longevity, and challenging demographic ramifications across many regions will continue to be important to governments, economies, and businesses.”
As a way to address these trends, the bank highlighted 14 U.S. stocks that analysts rate as “overweight.” The stocks are listed below along with their upside expectations relative to Morgan Stanley’s price targets and the themes to which each stock falls.
