Stocks climb wall of worry despite years of shocks

U.S. equities have shown resilience, continuing to rise through the 2020s despite various global shocks, according to Pepperstone strategist Michael Brown. A chart tracking S&P 500 futures from 2020 to 2026 illustrates this upward trend, even amid disruptions like the COVID-19 pandemic, supply chain issues, and geopolitical tensions. Each crisis led to temporary declines, but markets consistently rebounded, maintaining a bullish trajectory. Brown noted this period as 'six years of supply shocks' with stocks climbing the wall of worry, highlighting the market's ability to absorb negative shocks without derailing the overall trend.