Yeap Jun Rong, IG's market strategist, wrote that the trajectory of future interest rate cuts by the Federal Reserve may depend on the policies of elected President Trump, which are still unclear at this stage. He said that Trump's initial comments on tariffs did sound radical. However, he added that the extent of these measures is uncertain. Yeap said that as policies become clearer, the Federal Reserve may initially lean towards a shallower interest rate cut cycle. He also said that as the Federal Reserve meeting ends, unless the Bank of Japan makes an unexpected decision, the US stock market may gradually rise in the last few weeks of 2024. However, reaching a new record high by the end of the year may be challenging due to the lack of further catalysts. (Jinshi)