经济学家宋清辉：12月美股走势大概率震荡上行，波动率或显著上升

Group 1 - The U.S. stock market is expected to experience "volatile upward" movement in December, with significant increases in volatility anticipated [1][5] - If the Federal Reserve continues to cut interest rates next month, it will positively impact market sentiment and valuations; however, a reversal could lead to short-term market shocks [1][5] - December is typically a critical window for institutions to "lock in profits and adjust portfolios," which may lead to some profit-taking, but the overall trend remains positive [1][5] Group 2 - UBS's CIO team believes that substantial capital expenditures by U.S. tech companies will continue to drive growth in the AI industry [6][7] - Increased investment in AI infrastructure by U.S. tech firms is expected to benefit related themes such as AI, electricity, and resources [7] - Investors are encouraged to increase exposure to companies benefiting from AI, energy, and resource themes while maintaining diversified portfolios [7]