US stock market trading at 4% discount to composite of fair value estimates, growth stocks at discount. Small-cap stocks most attractive. Expect more volatility ahead due to AI stock growth challenges, new Fed chair, and trade negotiations. Economic growth may slow, inflation rise, geopolitical risks increase. Technology, real estate undervalued sectors. Energy, communications sectors offer value. Consumer defensive, financials, industrials overvalued. Investors advised to balance portfolio for volatility.

Read more at Morningstar: 2026 US Stock Market Outlook: Where to Find Investing Opportunities