降息临近，华尔街几乎放弃了对贸易战的担忧

Group 1 - The market's focus has shifted from concerns about the global trade war to expectations of interest rate cuts by the Federal Reserve, with the S&P 500 index rising 32% since Trump's announcement of global tariffs in April [1] - Analysts are rapidly raising earnings expectations, reflecting confidence in U.S. corporate growth, which supports the bullish trend of the S&P 500 [2] - Corporate earnings for the second quarter grew by 11%, exceeding prior expectations, and consumer resilience along with ongoing AI spending is driving upward revisions in earnings forecasts for the next three quarters [3] Group 2 - The impact of tariffs is currently limited, with some companies facing individual negative effects, but overall market resilience is attributed to reduced uncertainty around trade policies [4] - The Bloomberg Global Trade Uncertainty Index has fallen to its lowest level of the year, contributing to the S&P 500's rise since its peak in April [4] - Analysts suggest that while tariffs are not the primary focus for investors at the moment, they may regain attention during the upcoming earnings season [4]