Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The short - term view of the stock index futures is that the market will mainly show range - bound fluctuations, with the upper and lower limits of the index being relatively limited. The mid - term view is that the stock index will rise, and the intraday view is that it will be strong with a bias towards range - bound movement [1][4]. - The core logic is that the latest macro - economic indicators are weak, which increases the expectation of policy support. The market has strong bottom - support forces, and the negative impact of the tariff war has a weak marginal effect, resulting in low short - term downward risks. However, due to the market's wait - and - see attitude, the short - term upward momentum of the stock index is also limited [4]. 3. Summary by Related Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2506 variety, the short - term view is range - bound, the mid - term view is upward, the intraday view is strong with a bias towards range - bound movement, and the overall view is range - bound. The core logic is that the expectation of policy benefits provides strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is strong with a bias towards range - bound movement, the mid - term view is upward, and the reference view is range - bound. The core logic is that the market sentiment has returned to calm after the lack of further substantial progress in Sino - US economic and trade measures. The weak macro - economic indicators increase the expectation of policy support, and the market has strong bottom - support forces. The negative impact of the tariff war has a weak marginal effect, and the short - term downward risk is low. The market is waiting for policy guidance, and attention can be paid to the Lujiazui Forum on June 18. Due to the wait - and - see attitude, the short - term upward momentum of the stock index is limited [4].