Moran Monthly Digest: 2026 Mid-Year Outlook

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Halfway through 2026, the headline is reassuring. U.S. equities recovered from a spring pullback that, at its worst, took the S&P 500 down approximately 9% from its high into the late-March low, and have since climbed back to around record levels, leaving the index higher for the year. Volatility has drained away, the spring’s conflict-driven anxiety already reads like a footnote, and by at least one widely watched measure of sentiment, investors are about as giddy as they have been since 2021.

That is the headline. As usual, the more useful story is the one underneath it — and this year, the gap between the two is unusually wide.

Start with what went right, because a great deal did. By late May, according to UBS, the S&P 500 had recovered past its pre-conflict levels entirely and returned to record territory. The path there was textbook for this decade. Bespoke Investment Group notes that 2026 has been one of the strongest years for “buying the dip” since at least 1993, and that the VIX recently closed near 15, its lowest since early January.

To continue reading, please download the full Moran Monthly Digest here.

Data sources: S&P 500 index levels and returns referenced are sourced from S&P Dow Jones Indices and Bloomberg as of the publication date shown above; such figures are approximate and subject to change. Index returns are price-return and do not reflect the deduction of advisory fees or other expenses; you cannot invest directly in an index. Past performance is not a guarantee of future results.

This content is for informational and educational purposes only and is not investment, legal, tax, or accounting advice and is not a recommendation, or an offer or solicitation to buy or sell any securities. References to markets, index levels, timing opportunities, and potential outcomes are opinions expressed at the time of content creation and should not be relied upon as current advice or guarantees of future results. Past performance is not indicative of future results, all investing involves risk, including the possible loss of principal. The views expressed are those of the author(s) as of the date of publication and are subject to change without notice.

Alternative Investments (e.g., private equity, hedge funds, real estate) are speculative, illiquid, and carry high risk, including potential loss of principal. They are not suitable for all investors. Diversification does not guarantee profit. Consult your advisor regarding suitability.

Portions of this content do contain content generated or assisted by artificial intelligence (AI). While reviewed for accuracy, AI-generated content may not fully reflect all nuances of your individual circumstances. Please consult your advisor directly for personalized guidance.

Moran Wealth Management, LLC is an SEC registered investment adviser. Registration as an investment adviser does not imply a certain level of skill or training. A copy of MWM’s current written disclosure statement as set forth on Form ADV, discussing MWM’s business operations, services, and fees is available from MWM upon written request or at adviserinfo.sec.gov.

© 2026 Moran Wealth Management. All Rights Reserved.

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