美股震荡收平，市场淡化关税担忧

Core Viewpoint - The U.S. stock market showed stable performance with major indices entering a consolidation phase after consecutive gains, driven by strong economic data and corporate earnings, despite rising concerns over potential tariffs on EU goods [1][3]. Economic Data - The Michigan Consumer Sentiment Survey indicated a significant drop in short-term inflation expectations, with one-year inflation expectations falling from 5% in June to 4.4% in July, alleviating concerns about persistent inflation [2]. - The U.S. Department of Labor reported a decrease in initial jobless claims, signaling a healthy job market, following a period of increased claims earlier in the spring [6][7]. Corporate Earnings - Netflix reported second-quarter earnings that exceeded expectations but failed to excite the market, leading to a decline in its stock price due to high valuation concerns [4]. - American Express delivered strong earnings, indicating robust spending among high-end consumers, which supports the overall economy [5]. Market Sentiment - The S&P 500 and Nasdaq reached historical closing highs, bolstered by strong economic data and corporate earnings, while concerns over tariff policies temporarily eased consumer confidence worries [3][4]. - Despite the positive economic indicators, uncertainties remain regarding trade policies and the potential impact on market stability, particularly with the looming decision on tariffs against EU imports [4][7].