The possible end-of-year rally in the US stock market faces mixed signals:

Current context: The volatility of the indices and the lack of euphoria limit the momentum, although December is historically positive, especially in its second half.

Factors in favor: The strong accumulated performance of the S&P 500 (+15% in 2025), optimism about artificial intelligence, and expectations of Fed rate cuts could support the market.

Risks: Negative surprises in data or results, lower liquidity in the last week of December, and a cautious sentiment from investors could hinder the rally.

Conclusion: The rebound is not guaranteed; the most likely scenario is a moderate rally, conditioned by monetary policy and the performance of large tech companies.