爱建证券今日视点：股指窄幅震荡整理，人气指数稍显活跃

Market Overview - The Shanghai Composite Index experienced a narrow fluctuation with a daily range of only 14 points, indicating a weak balance between bulls and bears[6] - Overall market sentiment remains weak, with active sectors showing a lack of sustained momentum, particularly in the shipping and port sectors[7][8] - The trading volume for the day was approximately 0.83 trillion, reflecting low market participation[24] Economic Indicators - The Federal Reserve is likely to maintain current interest rates for an extended period, with a high probability of delaying rate cuts until later in the year[17] - Moody's has downgraded the outlook for the U.S. credit rating from "stable" to "negative," highlighting ongoing economic challenges[17] - Global economic pressures are increasing, with rising concerns about stagnation and recession in Europe, and heightened volatility in the U.S. debt market[17] Investment Sentiment - Despite recent policy measures aimed at stabilizing the market, investor confidence remains fragile, with significant outflows of foreign capital from the A-share market[17][19] - The market is characterized by structural rotation among sectors, primarily driven by existing capital rather than new inflows[17][19] Sector Performance - The photovoltaic sector saw a notable surge in the afternoon, boosting the performance of related industries such as new energy equipment and real estate services[22] - However, the overall market still reflects a lack of consistent upward momentum, with the ChiNext Index showing weaker performance compared to major indices[25][34]