Morningstar's 2026 Outlook Report Delivers Global and Regional Insights for Durable Portfolios

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today published its 2026 Outlook, offering an overview of key challenges and opportunities for the year ahead. In a market defined by uncertainty, this year’s report emphasizes the value of preparation over prediction, equipping investors with strategies to focus on fundamentals and help build resilient portfolios that withstand both booms and busts.

Drawing on insights from Equity, Manager, and Behavioral research analysts worldwide, this Outlook distills Morningstar’s thinking on how to navigate opportunity and risk across every major asset class in 2026.

"Markets are unpredictable, and the geopolitical and tariff uncertainty of 2025 showed just how quickly forecasts can shift. That’s why Morningstar is redefining the Outlook, focusing on durable portfolios rather than short-term predictions,” said Dan Kemp, chief research and investment officer. “No matter what market conditions the year ahead might have in store, the 2026 Outlook provides investors with steps to help them stay on track toward their long-term financial goals.”

For the first time, the 2026 Outlook includes regional perspectives from Morningstar researchers in the United States, the United Kingdom, Australia, South Africa, and Asia, complemented by a global view of market dynamics. Core themes from the report are outlined below.

Key Themes

• The US Dollar’s Decline - A Cyclical Opportunity: Much of the US dollar’s weakness reflects cyclical and policy-driven forces rather than a full-blown structural collapse. However, this could still be an opportune time for investors to consider adding more exposure to non-US markets, not only because many are priced for the potential to provide good risk adjusted returns, but also because foreign-currency exposure now offers greater potential for appreciation relative to the US dollar.
• Artificial Intelligence Hype vs. Portfolio Balance: While AI is just hitting the ground in real-world usage, with much of the physical buildout still ahead, investors in the US equity market are already heavily exposed to this theme. Those seeking to reduce concentration risk may want to diversify into US value and small-cap stocks or shift portfolios to stocks outside of the US.
• Staying Focused Amid Volatility in 2026: Investors face a volatile mix of ongoing tariff developments, changes in Federal Reserve leadership, and rising unemployment. It’s important to avoid overreacting to headlines, rebalance and stay committed to appropriate strategies, and seek opportunities where markets may have overcorrected relative to long-term fundamentals.

Access Morningstar’s full 2026 Outlook report, including detailed global and regional insights. A summary article is available here on Morningstar.com.

Live Webinars

Morningstar will host several live webinars featuring Morningstar researchers and authors of the Outlook:

• EMEA Outlook 2026 – November 19: Dan Kemp and Mike Coop, chief investment officer, EMEA, will unpack how financial advisors can apply the report’s insights to better support their clients.
• South Africa Outlook 2026 – November 19: Michael Dodd, senior fund analyst, will join Dan Kemp to discuss the Outlook’s takeaways for the South African market.
• Investors First – November 24: Morningstar CEO Kunal Kapoor joins Preston Caldwell, chief US economist; Michael Field, market strategist, EMEA; and Kai Wang, market strategist, Asia, for a global conversation on the report’s most important investment themes.
• Global Outlook 2026 – December 4: A panel featuring David Sekera, chief US market strategist; Danielle Labotka, behavioral scientist; Lucian Marinescu, head of investments, institutional and retirement solutions; and Michael Field, will explore the key themes of the Outlook.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $369 billion in AUMA as of Sept. 30, 2025. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X @MorningstarInc.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “ consider,” “future,” “maintain,” “may,” “expect,” “potential,” “anticipate,” “believe,” “continue,” “will,” or the negative thereof, and similar expressions. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among other things, failing to innovate our product and service offerings or anticipate our clients’ changing needs. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission (SEC), including our most recent Reports on Forms 10-K and 10-Q. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information or future events or otherwise, except as may be required by law. You are, however, advised to review any further disclosures we make on related subjects, and about new or additional risks, uncertainties and assumptions in our filings with the SEC on Forms 10-K, 10-Q and 8-K.

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