(Bloomberg) — US equity futures pointed to a strong end to the week on Wall Street as traders look ahead to the final Federal Reserve interest-rate decision of the year.

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Contracts on the S&P 500 rose 0.3% while those on the Nasdaq 100 climbed 0.7%, with shares in Broadcom Inc. jumping 15% in premarket after it predicted a boom in demand for its artificial intelligence chips. While the S&P 500 has rallied 27% this year, strategists polled by Bloomberg predict it will outpace European peers again in 2025.

“You have a US economy which is doing well and an incoming administration that is very pro-corporate — all that is in the price, but it doesn’t mean the rally can’t extend,” said Timothy Graf, head of EMEA macro strategy at State Street Global Markets.

Europe’s Stoxx 600 index slipped 0.2% amid continued disappointment over the lack of concrete stimulus measures from China, and as traders waited for a a new French prime minister to be named. Munich Re was a notable gainer after it forecast a net income boost next year.

The pound weakened after Britain’s economy unexpectedly contracted for a second straight month in October. The euro strengthened after the European Central Bank sounded less dovish on rates than some expected after its policy announcement Thursday. Traders have pared bets onECB policy easing next year. The dollar was steady, on track for a second straight week of gains against a basket of currencies.

While a Fed rate cut next week is almost fully priced, many investors expect a relatively shallow easing cycle relative to other markets. Swap markets aren’t pricing a cut from the Bank of England at next week’s meeting, despite Friday’s weak data.

China Letdown

Earlier, Asian shares fell as a key economic meeting in China pledged to boost consumption but failed to offer details on fiscal stimulus. A gauge of world stocks is headed for the worst week in nearly a month.

“The newsflow has been underwhelming,” Beata Manthey, head of European equity strategy at Citigroup Inc., said of announcements from China. “The markets want numbers. We didn’t get the numbers.”

However, Chinese 10-year government bond yields slid below 1.8% for the first time in history, as authorities vowed to cut policy rates and banks’ reserve ratios.

Oil edged higher, with Brent crude up 3.5% this week on the prospect for tighter US sanctions against Iran and Russia.

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