On October 26, UBS stated that the current market sentiment is generally consistent with its predictions, namely that tariffs will be reduced from the currently announced levels for the remainder of the year, and the Federal Reserve will further cut interest rates this year. However, due to the high uncertainty surrounding trade, the economy, and Federal Reserve policies, expected volatility remains high. Nonetheless, UBS believes the U.S. stock market is attractive, with a year-end target of 5800 points for the S&P 500 index. UBS's current basic prediction is that the Federal Reserve will cut interest rates by 75 to 100 basis points this year, but in the short term, the Fed's policy flexibility seems more limited, as it must balance concerns about economic growth with the risks of inflation recovery. (Jinshi)