The first half of 2026 has been strong. Why investors should expect more upside

Don't expect the stock market's momentum in first six months of 2026 to wane in the back half of the year, according to CFRA. Chief investment strategist Sam Stovall laid out several reasons why stocks can continue marching higher, eventually reaching his 7,730 S & P 500 target. They include: 24 all-time highs for the S & P 500 in the first half through Friday: That, according to Stovall, is among the top 20 first-half totals in record highs going back to World War II. "In 2H of these prior top-20 years, the S & P 500 gained an additional 6% and rose in price 80% of the time. Broadening market leadership: While gains were largely concentrated in semiconductor stocks for much of the first half, other parts of the market began participating more in June — including financials and health care. This is "a constructive sign that the bull market can remain intact," said Stovall. Declining oil prices: West Texas Intermediate crude traded near $70 a barrel on Monday, far below its peak above $110 seen earlier this year. "The speed at which oil prices retraced their war-driven spike has been encouraging, which should be a 2H tailwind for consumer spending and corporate earnings," said Stovall. Indeed, stocks have been able to weather all kinds of headwinds so far this year. At one point in the first half, the S & P 500 was down as much as 7.3% year to date before recovering, as investors feared oil prices would stay elevated. …