John Stoltzfus of Oppenheimer sees S&P 500 at 8,100 by end-2026

Summary

John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, discusses a bullish US equity outlook with an S&P 500 target of 8,100 by end-2026. He expects market broadening beyond technology into cyclicals, while the AI trade remains a core part of the story. He is constructive on energy but cautions that an oil glut limits upside, and he avoids commenting on individual stocks such as Nvidia.

• John Stoltzfus sees the S&P 500 reaching 8,100 by end-2026.
• He expects the equity rally to broaden into cyclicals, industrials, materials, and communication services.
• He says the AI trade remains real and technology adoption should continue.
• He is constructive on energy but says the world is awash in oil, capping major outperformance.
• He cites a resilient US economy, fiscal stimulus, and Fed policy as supports.
• He declines to comment on Nvidia and individual stocks.
• He notes autonomous vehicles are part of AI adoption, but timing is uncertain.