一片质疑声中，美股九连涨，收复“对等关税”以来所有跌幅

Group 1 - The recent V-shaped recovery in the US stock market has seen the S&P 500 index achieve a rare nine consecutive days of gains, recovering all losses from early April due to tariff concerns [1][4] - The rebound is primarily driven by three factors: easing trade tensions, strong economic data, and robust earnings from tech giants [4][7] - The US job market remains strong, with the unemployment rate stable at 4.2%, providing confidence against external shocks [4] Group 2 - Despite the market's rise, there are significant doubts regarding the sustainability of this rebound, particularly concerning the Federal Reserve's interest rate policies [5][8] - There is a stark contrast between the performance of tech stocks and the weakening signals from the real economy, raising concerns about the durability of the market rally [9] - Deeper market anomalies, such as the decoupling of the dollar from US bond yields and the persistent inversion of the VIX, indicate underlying market caution [10] Group 3 - A rising number of companies in the S&P 500 are mentioning "recession" in their earnings calls, with about 25% of 357 companies doing so, a sharp increase from 2% in the previous quarter [13] - The unexpected contraction of the US GDP by 0.3% in Q1 further supports concerns about economic slowdown [13] - Consumer spending is showing signs of weakness, with companies like McDonald's reporting reduced consumer expenditure due to economic worries [13]