Insights

Like a hydration break during the World Cup, we took a brief pause from serving clients to catch our breath and recap what happened in the markets during the second quarter.

What began as a continuation of last year’s positive momentum quickly gave way to increased uncertainty and heightened geopolitical tension. In just the first three months of the year, we’ve seen continued AI-driven disruption in the software industry, a Supreme Court decision striking down tariffs and adding to trade uncertainty, and a war in Iran that triggered a sharp spike in oil prices.

Rising unemployment, persistent inflation, tariffs, volatility, the longest government shutdown in U.S. history, concerns on stock market valuations, and yet again, double-digit gains for the U.S. stock market in 2025.

As we head into 2026, investors, families, and business owners are all wondering the same thing: What’s coming next? The markets have had a strong run, technology and AI continue to change at lightning speed, and interest rates are easing. We break down three big themes as we head into the new year.