The broad market exchange-traded fund tracking the S&P 500 was up modestly in recent trading. While there is discussion about whether the Dow Jones ETF may outperform due to rising rate-cut hopes and strengthening defensive sectors, analysis suggests the S&P 500 is positioned for a December rally as macroeconomic headwinds ease and the AI trade reignites. Some predict the index may set new highs before year-end, with November's correction creating significant rebound potential.