股指期货早报2026.1.7：大盘十三连阳，春季躁动-20260107

Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - Overseas: The US December S&P Global Services PMI was 52.5, lower than the expected and previous value of 52.9, indicating a marginal decline in the US economy. The overnight market no longer followed the rate - cut logic, but the concepts of risk and stagflation continued. The US Supreme Court will rule on the tariff issue this Friday [2]. - Domestic: On Tuesday, the domestic market continued a major rebound. The broader market rose 1.5%, the Shenzhen Component Index rose 1.4%, and the ChiNext Index rose 0.75%. The brokerage sector drove up sentiment, and themes remained active. The convening of the central bank's work meeting implies that interest - rate and reserve - requirement ratio cuts are approaching, which is the main reason for the sharp rise in the financial sector. Sectors such as non - ferrous metals, non - bank finance, chemicals, military industry, and petroleum and petrochemicals led the gains, while only the communication sector declined slightly. A total of 4,101 stocks rose and 1,218 stocks fell in the entire market. Nine departments issued a document to implement a green consumption promotion action [2]. - Overall: The overnight overseas market basically continued the trend of rising US stocks and commodities. Physical assets were more in focus under geopolitical uncertainties. The domestic A - share market continued to rise sharply, achieving a record 13 - day consecutive gain. It is unlikely that the index will continue to rise in the future. The spring market should focus more on individual stocks. After an inertial rise, the index is expected to experience fluctuations. Attention can be paid to the ChiNext Index [3] Summary by Relevant Catalogs 1. Important Information - Venezuela: Venezuela is negotiating with the US on exporting oil to the US. In the early days of Maduro's administration, Venezuela shipped $5.2 billion worth of gold to Switzerland. Shipping data shows that in the past five days, Venezuela's main oil terminals have only transported crude oil to Chevron in the US and not to any other destinations for export [5]. - International Relations: The UK, France, and Ukraine signed an intention statement to send troops to Ukraine after the cease - fire in the Russia - Ukraine conflict. The US will provide support including intelligence and logistics and "commit to support the troops if Russia launches an attack." Trump is planning a scheme to acquire Greenland, and using the US military as a vanguard is a feasible option [5][6]. - Monetary Policy: Fed Governor Milan said that more than 100 basis points of interest - rate cuts are needed in 2026. The central bank will continue to implement a moderately loose monetary policy and strengthen supervision of various financial markets [7][10]. - Trade Policy: The G7 finance ministers will discuss key mineral issues such as the lower limit of rare - earth prices. China is considering tightening the export - license review of medium and heavy rare - earth related items listed on April 4, 2025, and the Ministry of Commerce has banned the export of all dual - use items to Japanese military users [8][9]. - A - share New Accounts: In December 2025, the number of new A - share accounts was 2.5967 million, and the cumulative number of new accounts in 2025 was 27.4369 million [11] 2. Futures Market Tracking - Performance: The report provides the closing prices, settlement prices, price changes, price - change percentages, basis, premium/discount rates, annualized premium/discount rates, contract delivery dates, and remaining times of various stock - index futures contracts such as the Shanghai 50, CSI 300, CSI 500, and CSI 1000 [13]. - Trading Volume and Open Interest: It shows the trading volume, trading - volume changes, trading value, trading - value changes, open interest, open - interest changes, weekly position increases, net positions, net - position changes, short - position changes, and long - position changes of various stock - index futures contracts and their total data [14] 3. Spot Market Tracking - Market Performance: It presents the trading value, price - earnings ratio, year - to - date change, current points, daily change, weekly change, monthly change, average, percentile, etc. of various major indexes and sectors. For example, the Shanghai Composite Index rose 1.50%, the Shenzhen Component Index rose 1.40%, and the ChiNext Index rose 0.75% [38]. - Market Style Impact: It analyzes the impact of different market styles (cyclical, consumer, growth, financial, and stable) on major indexes such as the Shanghai 50, CSI 300, CSI 500, and CSI 1000 in terms of quantity, weight, daily contribution, weekly contribution, monthly contribution, and annual contribution [39][40]. - Valuation: It shows the current valuations and historical percentiles of major indexes and Shenwan sectors [42][45] - Other Market Indicators: It includes market Sunday - average trading volume, Sunday - average turnover rate, the ratio of rising to falling stocks in the two markets, index trading - value changes, stock - bond relative returns, Hong Kong Stock Connect, margin trading balance, and margin trading net purchase amount and its proportion in A - share trading value [47][49][51] 4. Liquidity Tracking - It presents data on the central bank's open - market operations (including currency injection, currency withdrawal, and net currency injection) and the Shibor interest - rate level [53][54][55]