Midyear Outlook 2025

Volatility, as defined by Merriam-Webster, is "a tendency to change quickly and unpredictably" - a fitting description of the economic and market environment in 2025. A significant portion of this market turbulence originated from the widely held assumption that President Trump's second term policies would simply mirror those of his first. The gradual understanding that this was not the case - and the subsequent impact of these new policy directions - has been central to the market volatility experienced this year. Read on to see what LPL's Research team believes we can expect in the second half of 2025.