市场情绪升温，股指巩固上行趋势

Report Industry Investment Rating - No relevant content provided Core Viewpoints - The U.S. labor market shows signs of cooling, and the three major stock indexes present a differentiated trend, with the Nasdaq closing higher. China's export data continues to grow, demonstrating economic resilience. In the domestic market, liquidity remains abundant. Although there is short - term market rotation and adjustment, the medium - and long - term upward trend is unquestionable. Investors can pay attention to the layout opportunities of low - level chips [3] Summary by Directory Market Analysis - Domestic Policy: The national policy of exempting preschool education fees covers all senior kindergarten children, expected to benefit about 12 million people this fall semester and reduce family expenses by 20 billion yuan. Customs data shows that in July, China's total goods trade import and export value was 3.91 trillion yuan, a year - on - year increase of 6.7%. Exports were 2.31 trillion yuan, up 8%, and imports were 1.6 trillion yuan, up 4.8%, with two consecutive months of growth. In the first seven months, the total value was 25.7 trillion yuan, a year - on - year increase of 3.5% [1] - Stock Market: In the spot market, the three major A - share indexes fluctuated and diverged. The Shanghai Composite Index rose 0.16% to close at 3639.67 points, and the ChiNext Index fell 0.68%. In terms of industries, sector indexes showed mixed trends. Non - ferrous metals, beauty care, real estate, and textile and apparel industries led the gains, while the pharmaceutical biology, power equipment, and communication industries led the declines. The trading volume of the Shanghai and Shenzhen stock markets increased to over 1.8 trillion yuan. In the overseas market, the number of initial jobless claims in the U.S. last week increased by 7,000 to 226,000, higher than market expectations. The three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average falling 0.51% and the Nasdaq rising 0.35% to 21,242.70 points [1] - Futures Market: In the futures market, the discount of the current - month IH contract was slightly repaired. In terms of trading volume and open interest, the trading volume and open interest of stock index futures increased simultaneously [2] Strategy - The U.S. labor market shows signs of cooling, and the three major stock indexes are differentiated, with the Nasdaq closing higher. China's export data continues to grow, showing economic resilience. In the domestic market, liquidity is abundant. Although there is short - term market rotation and adjustment, the medium - and long - term upward trend is certain. Investors can focus on the layout opportunities of low - level chips [3] Charts Summary - Macro - economic Charts: Include charts showing the relationship between the U.S. dollar index and A - share trends, U.S. Treasury yields and A - share trends, RMB exchange rates and A - share trends, and U.S. Treasury yields and A - share style trends [5][6] - Spot Market Tracking Charts: The table shows the daily performance of major domestic stock indexes on August 7, 2025, and August 6, 2025. The Shanghai Composite Index rose 0.16%, the Shenzhen Component Index fell 0.18%, the ChiNext Index fell 0.68%, the CSI 300 Index rose 0.03%, the SSE 50 Index rose 0.24%, the CSI 500 Index fell 0.31%, and the CSI 1000 Index rose 0.01%. There are also charts showing the trading volume of the Shanghai and Shenzhen stock markets and the margin trading balance [5][6][13] - Stock Index Futures Tracking Charts: The table shows the trading volume and open interest of stock index futures (IF, IH, IC, IM). For example, the trading volume of IF was 93,269, an increase of 19,361, and the open interest was 260,437, an increase of 7,431. There are also charts showing the open interest, latest open interest ratio, net open interest of foreign capital, basis, and inter - delivery spread of each contract [5][6][15]