Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - The short - term view of the stock index is range - bound, with the co - existence of macro - recession risks caused by the Middle East geopolitical crisis and continuous policy benefits [1][5] Group 3: Summary by Related Catalogs Variety View Reference - Financial Futures Stock Index Sector - For IH2606, the short - term view is oscillatory, the medium - term view is oscillatory, the intraday view is bullish, and the overall view is range - bound. The core logic is the co - existence of continuous policy benefits and the Middle East geopolitical crisis [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, and IM. The intraday view is bullish, the medium - term view is oscillatory, and the reference view is range - bound. The core logic is that yesterday, each stock index oscillated and declined. The continuous escalation of the Middle East geopolitical crisis has increased risks such as global energy supply shortage, key raw material supply chain interruption, and macro - economic recession. The Fed's interest rate decision in March maintained the interest rate and said it would not cut interest rates before inflation improved, leading to a marginal tightening of the global liquidity environment and a decline in the stock market valuation level. As the Shanghai Composite Index fell to around the 4000 - point mark, the support of continuous policy benefits gradually emerged. The policy focuses on stabilizing corporate profit expectations and developing new - quality productivity. In the short term, the stock index is mainly range - bound [5]