靴子提前落地，小心大佬作妖！

Group 1 - The core message indicates that recent developments in US-China negotiations have led to a significant rise in US stock markets, while A-shares experienced volatility, with a notable rebound in the afternoon [1][3]. - The unexpected progress in negotiations, particularly regarding TikTok, has contributed to market optimism, despite initial tensions [3][5]. - The New York Fed manufacturing index dropped sharply from 11.9 to -8.7, raising expectations for interest rate cuts by the Federal Reserve [3][5]. Group 2 - The market is currently focused on the extent of potential interest rate cuts rather than whether cuts will occur, with expectations leaning towards a total reduction of 75 basis points this year [5][9]. - There are indications that the central bank may intervene in the bond market, suggesting preparations for liquidity challenges, reinforcing the likelihood of interest rate cuts [5][12]. - Institutional funds are showing signs of recovery, which is a positive signal for the market, despite short-term fluctuations [12][16]. Group 3 - The market is characterized by significant style shifts, with a focus on technology stocks, although only 160 out of 314 computing concept stocks have outperformed the index in the past two months [14][16]. - The concept of "washing" or creating volatility is discussed, indicating that institutions may be manipulating stock prices to shake off weaker hands while maintaining active inventory [16][12]. - The presence of active institutional funds is crucial for sustaining individual stock performance, and their movements should be closely monitored for investment decisions [9][12].