Report Industry Investment Rating No relevant information provided. Core Viewpoints - Policy continues to boost consumption, and the relevant document clearly proposes to carry out the construction of pilot cities for new consumption formats, models, and scenarios, bringing clear investment opportunities to the new consumption sector [3] - During the market oscillation phase, structural opportunities gradually emerge, the technology market continues to evolve, and the anti - involution theme investment is active in stages. It is advisable to pay attention to the opportunity of establishing long positions in IC and IM after adjustment [3] Summary by Directory 1. Market Analysis - **Policy to Promote Consumption**: Domestically, the Ministry of Commerce and eight other departments issued measures to expand service consumption, including 19 initiatives in five aspects, 8 of which are related to "high - quality service supply". Overseas, US retail sales in August increased by 0.6% month - on - month, and real retail sales increased by 2.1% year - on - year [1] - **Index Oscillation**: In the spot market, A - share indices closed slightly higher, with the Shanghai Composite Index up 0.04% and the ChiNext Index up 0.68%. Overseas, US stock indices closed slightly lower before the interest rate decision [1] - **Futures Market**: In the futures market, the basis of IH and IM contracts rebounded on the day of this Friday's contract delivery. The trading volume and open interest of stock index futures increased simultaneously [2] 2. Strategies - Pay attention to investment opportunities in the new consumption sector and consider establishing long positions in IC and IM after adjustment [3] 3. Macro - economic Charts - Include charts showing the relationship between the US dollar index, US Treasury yields, RMB exchange rate and A - share trends, as well as the relationship between US Treasury yields and A - share styles [6][9][10] 4. Spot Market Tracking Charts - **Stock Index Performance**: The Shanghai Composite Index closed at 3861.87, up 0.04%; the Shenzhen Component Index closed at 13063.97, up 0.45%; the ChiNext Index closed at 3087.04, up 0.68% [12] - **Other Indicators**: Include charts of the trading volume of the Shanghai and Shenzhen stock markets and margin trading balance [6][13] 5. Stock Index Futures Tracking Charts - **Trading Volume and Open Interest**: The trading volume and open interest of IF, IH, IC, and IM contracts all increased [14][15] - **Basis**: The basis of different contracts of IF, IH, IC, and IM showed different changes [38] - **Inter - delivery Spread**: The inter - delivery spreads of different contracts of IF, IH, IC, and IM also had different changes [42][43][44]