UBS believes that the US stock market's rally from 2025 will continue into 2026, driven by strong corporate earnings, accommodative monetary policy, and a clearer policy outlook. The bank notes that corporate profits, particularly in the technology sector, remain robust, keeping current valuations at reasonable levels. UBS forecasts a 10% increase in S&P 500 earnings, potentially pushing the index to around 7700 points. Furthermore, further interest rate cuts by the Federal Reserve and the inauguration of a new chairman could provide additional support to the market. Clarity regarding future tariff policies will also help reduce uncertainty. Based on this, UBS maintains its "attractive" rating on US equities and recommends investors maintain their allocations to capitalize on the market's continued growth opportunities.