宝城期货股指期货早报-20250623

Report's Investment Rating - No investment rating is provided in the report. Core Viewpoints - The short - term view of the stock index is that it will mainly fluctuate within a range, while the medium - term view is an upward trend. The core logic is that although there are policy - side positive expectations, there is a lack of clear short - term policy signals, and overseas geopolitical and tariff issues also affect market sentiment [1][4]. Summary by Related Catalogs Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2509 variety, the short - term view is oscillatory, the medium - term view is upward, the intraday view is oscillatory and bullish, and the overall view is range - bound. The core logic is that policy - side positive expectations provide strong support [1]. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is oscillatory and bullish, the medium - term view is upward, and the reference view is range - bound. Last Friday, the stock index trends were oscillatory and differentiated, with IH and IF slightly rising and IC and IM slightly falling. The central bank's 6 - month LPR quote was in line with market expectations. Domestic macro - economic indicators have weakened marginally, and there is a need for more demand - supporting policies, increasing policy - side positive expectations. However, there are no clear short - term policy signals, and the policy - side driving force is insufficient in the short term. Overseas, the Middle - East geopolitical crisis and the approaching tariff - war deadline affect market sentiment, so the stock index will mainly fluctuate within a range in the short term [4].