宝城期货股指期货早报（2025年12月1日）-20251201

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - The overall view of the stock index futures is range - bound in the short term due to the interweaving of multiple and short factors, with the current market main line unclear. For IH2512, the short - term and medium - term views are both oscillatory, and the intraday view is bullish [1][5] Group 3: Summary by Related Catalogs Variety View Reference - Financial Futures Stock Index Sector - For IH2512, the short - term view is oscillatory, the medium - term view is oscillatory, the intraday view is bullish, and the overall view is range - bound. The core logic is the fermentation of policy - favorable expectations versus the rising willingness of funds to liquidate [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is bullish, the medium - term view is oscillatory, and the reference view is range - bound. Last Friday, each stock index rebounded oscillatory, with IM and IC showing strong performance. The full - market turnover of the stock market was 1.59 trillion yuan, a contraction of 125.7 billion yuan compared with the previous day. The latest macro data in October showed marginal weakness, indicating insufficient effective domestic demand. However, there are still strong expectations of policy - side benefits, and long - term funds are still entering the market. The rising expectation of the Fed's interest rate cut overseas and the cooling of the investment bubble risk of AI assets have also contributed to the rebound of the stock index. But there is less incremental information on the policy side before the Central Economic Work Conference in December, so the upward driving force of the stock index is insufficient [5]