Wellington-Altus Sees S&P 8,000 as Trump Clip Resurfaces

Dr. James Thorne, chief market strategist at Wellington-Altus Private Wealth, projects the S&P 500 at 8,000 by the close of 2026, with a possible overshoot toward 8,400. He outlined a path to 10,000 in 2027 and 14,000 by the end of the decade if projected productivity gains continue.

Thorne attributes the outlook to an AI-driven capital expenditure cycle focused on data centers, upgraded power grids, expanded nuclear capacity and increased production of critical minerals. He described the buildout as industrial retooling rather than speculative activity and wrote on X that the shift represents “A Cap Ex Super cycle. Retooling America, a productivity boom.”

Thorne cited corporate results as part of his case. Reported first-quarter 2026 earnings rose about 27%, roughly double the 12% gain many analysts had forecast, according to market data. He argues those results indicate stronger-than-expected margin improvement linked to AI investments.

Market levels on May 12 provided context for the projection. The S&P 500 traded near 7,360 that day, leaving the 8,000 target roughly 8% above market prices. Bitcoin traded near $80,000 on the same date.

A May 8, 2025 Oval Office exchange has reappeared on social platforms alongside Thorne’s forecast. In the original clip, Donald Trump told reporters, “You better go out and buy stock now… Let me tell you, this country will be like a rocket ship that goes straight up.” Edited versions of the clip added the phrase “and crypto” and circulated on Instagram, Threads and X.

The resurfaced clip coincided with policy developments. The Senate Banking Committee scheduled a markup this week on the CLARITY Act; prediction markets assigned about a 73% chance that the bill becomes law in 2026. Market participants have highlighted recent federal support and corporate investments aimed at onshoring semiconductor and critical-minerals supply chains.

Federal commitments and private capital have targeted semiconductors, rare-earth processing, copper and lithium projects. Those commitments, which exceed $20 billion across several firms, include funding and contracts for companies such as Intel, MP Materials, Trilogy Metals and Lithium Americas.

Other market strategists have issued bullish year-end S&P projections. Traders and analysts point to the combination of earnings results, corporate capital spending plans and policy developments as factors in current market pricing.