BlackRock – Global Outlook, 2026

The main theme of the report is the transformation of the global economy and financial markets under the influence of megaforces, especially artificial intelligence (AI).

Technologies are becoming capital-intensive, and the development of AI can be unprecedented in speed and scale. In an environment where several megaforces define markets, it is difficult to remain neutral, even regarding broad indices. BlackRock maintains a pro-risk position, seeing AI as the main driver of US equities. The current environment is favorable for active investing, choosing winners and losers among AI builders.