股指期货：市场进一步缩量，消费板块调整

Core Insights - China is implementing export controls on rare earth materials, ensuring that compliant applications for civilian use are approved promptly by the government [2][8] - President Xi Jinping emphasized the importance of mutual understanding and support between China and France during a meeting with President Macron, highlighting the need to maintain the political foundation of Sino-French relations [2][8] - In the U.S., initial jobless claims unexpectedly decreased by 27,000 to 191,000, marking the lowest level since September 2022 [2][8] Market Analysis - The A-share market showed a mixed performance with the Shanghai Composite Index falling by 0.51% to 3,878 points and the ChiNext Index declining by 1.12% [2][8] - Sector performance varied, with machinery, electronics, and defense industries leading gains, while beauty care, social services, retail, and textiles faced significant declines [2][8] - The total trading volume in the Shanghai and Shenzhen markets was below 1.6 trillion yuan [2][8] - U.S. stock indices closed mixed, with the Nasdaq rising by 0.22% to 23,505.14 points [2][8] Futures Market - In the futures market, the basis for IC and IM contracts is showing continued recovery from discounts [2][8] - Trading volume and open interest for the four major futures contracts have decreased simultaneously [2][8] Strategy Outlook - Market sentiment has cooled ahead of the PCE data release, leading to mixed performance in U.S. stock markets [3][9] - The domestic market remains in a contraction phase, characterized by a stable but oscillating trend with overall low risk [3][9]