宝城期货股指期货早报-20250605

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The short - term view of the stock index is interval oscillation, the medium - term view is upward, and the intraday view is oscillating strongly. Although the upward and downward spaces of the stock index are limited, the policy expectation has a strong supporting effect on the market sentiment in the short term, and the possibility of a sharp decline in the stock index is low [1][4]. 3. Summary According to the Table 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For IH2506, the short - term view is oscillation, the medium - term view is upward, the intraday view is oscillating strongly, and the reference view is interval oscillation. The core logic is that the positive policy expectation provides strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - For IF, IH, IC, and IM, the intraday view is oscillating strongly, the medium - term view is upward, and the reference view is interval oscillation. The core logic is that the stock index continued a small - scale rebound yesterday. The newly released Caixin Manufacturing PMI data in May dropped significantly, indicating a weakening of the export rush effect and large pressure on future export orders. Coupled with the Trump administration's tariff policy turmoil, the market's expectation for policy - based demand stability has increased. The market focuses on the policies from the Lujiazui Forum on June 18 and the Politburo meeting in July. Policy expectations support the market sentiment in the short term, but external uncertainties and weak domestic demand suppress the upward momentum of the stock index [4].