Group 1: Report Industry Investment Rating - Not provided in the given content Group 2: Core View of the Report - The short - term view of the stock index is oscillating strongly, and the medium - term view is oscillating. Policy expectations support the stock index. Once there is a clear signal of policy benefits, the stock index may break through and rise [1][5] Group 3: Summary According to Relevant Catalogs 1. Variety View Reference - Financial Futures Stock Index Sector - For IH2506, the short - term view is oscillating, the medium - term view is oscillating, the intraday view is oscillating strongly, and the overall view reference is oscillating strongly, with the core logic being the increasing expectation of the policy side [1] 2. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view is oscillating strongly, and the medium - term view is oscillating. The reference view is oscillating strongly. The core logic is that the stock index rose comprehensively yesterday. The stock market trading volume was 1364.4 billion yuan, 171.4 billion yuan more than the previous day. This was due to the stable external news during the holiday, the return of funds to the stock market, the good high - frequency data of travel during the holiday, the high possibility of macro - economic recovery, the continuous allocation of A - shares by funds like Central Huijin, the weakening of the manufacturing PMI in April indicating increasing policy measures for stable growth, and the stock index being at the position of the gap in early April, which will oscillate around the current point. Policy expectations support the stock index, and it will be oscillating strongly in the short term [5]

备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 投资咨询业务资格：证监许可【2011】1778 号 宝城期货股指期货早报（2025 年 5 月 6 日） ◼ 品种观点参考—金融期货股指板块 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2506 | 震荡 | 震荡 | 震荡偏强 | 区间震荡 | 政策面利好预期与外部不确定性 风险并存 | 品种：IF、IH、IC、IM 日内观点：震荡偏强 中期观点：震荡 参考观点：区间震荡 核心逻辑：上周三各股指均窄幅震荡整理。上周三统计局公布了 4 月制造业 PMI 为 49.0%，比上月下 降 1.5 个百分点，回落至收缩区间。从 ...