According to CoinMeta, despite the risks and the VIX index having fallen to a 2026 low, the outlook for the stock market remains optimistic. UBS believes that as long as the current limited short-term catalysts continue, there is still room for the stock market to rise before the end of the year. The firm expects the market to price in more than one interest rate hike over the coming year, but at the same time, it anticipates that employment, inflation, and consumer spending data will keep the Federal Reserve on the sidelines. UBS emphasizes that the broad participation of corporate earnings, rather than growth being concentrated in a few large companies, suggests that there may be rotational trading in the market. Although geopolitical risks still exist, UBS believes that the resilience of the U.S. economy and strong corporate earnings will support further gains in global stock markets.