The third and fourth years of a presidential term often see bull markets, while the first and second years tend to have weaker average returns. Since 1950, the S&P 500 has averaged: - Year 1: approximately 8.4% gain - Year 2: approximately 4.6% gain - Year 3: approximately 17.2% gain - Year 4: approximately 8.1% gain 2026 is the second year of Trump’s second presidential term, 2027 is the third year, and 2028 is the fourth year—big things are coming next year!