A sense of déjà vu overwhelmed Wall Street this week, as Donald Trump’s election win gave the stock market a jolt similar to what happened after his victory eight years ago. Small caps soared, banks leaped and the S&P 500 Index had its best Election Day in history and strongest week in 12 months.

Wall Street has a poor track record when it comes to forecasting the future performance of the stock market. Since 2020, there has been a 17-percentage-point discrepancy between analysts' median year-end forecast for the S&P 500 and where the index actually finished each year, according to Goldman Sachs.