Winter 2026 Investment Commentary
January 13, 2026
Equity markets closed 2025 with solid gains, extending a run that now includes three consecutive positive years for U.S. stocks. For the full year, the Dow Jones Industrial Average rose nearly 13%, the S&P 500 gained more than 16%, and the Nasdaq Composite advanced just over 20%. While returns were broadly positive, market leadership once again skewed toward the largest companies, with the equal-weighted S&P 500 still trailing the cap-weighted index by a wide margin.
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Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
