According to the Intelligent Financial News APP, the upcoming U.S. election has triggered concerns on Wall Street, one of which is that the fear index VIX remains high. However, Scott Rubner, a managing director at Goldman Sachs, believes that many investors are anticipating or expecting a brief pullback that may not materialize.

Rubner expects the stock market to continue to rise until the end of the year, following seasonal trends. Historical data shows that November and December are usually the strongest months for stock market returns. Rubner points out that the upcoming election scheduled for November 5th may become a catalyst for a risk asset 'liquidation event,' triggering investors' 'fear of missing out' (FOMO) and thus boosting the market. Additionally, he believes that overlooked themes and sectors in the market may experience the highest gains as these areas currently hold fewer positions.

Rubner also notes that corporate buybacks and investor seasonal position adjustments may have a greater impact on the market in the next two months. He states that target date funds, retail investors, and private wealth management companies usually rebalance their portfolios in January, April, and November. Investors holding maturing government bonds may choose to reinvest their funds in the stock market.

If the stock market performs as usual, the last two months of this year could bring significant returns. Since 1928, the median return of the S&P 500 index from October 27 to December 31 is 5.2%. In election years, this return rate increases to 6.3%.

With the reopening of the corporate buyback window, corporate buybacks may also help drive the stock market up. According to data from Goldman Sachs' trading department, November is usually the most active month for corporate buyback transactions, historically with inflows exceeding $100 billion solely through buybacks.

Mutual fundsRetirement funds may also reduce some selling behavior at the end of October when their fiscal year ends. Rubner also noticed that retail investors arePopular stockstrading activities like Nvidia (NVDA.US) and Tesla (TSLA.US) are increasing again. If this trend continues, it could increase the number of buyers.

After answering a large number of customer questions over the weekend, Rubner noticed a common theme: investors have shifted from asking how to hedge sales to how to better capitalize on market uptrends before the end of the year. Rubner has been bullish on the stock market. He expressed concerns earlier this month that his year-end target of 6,000 points for the S&P 500 may not be high enough. Currently, the S&P 500 only needs to rise by another 3% to reach that target.