Today's news is a bit incredible, as there are two major announcements in the market that may affect the upcoming trend of A-shares. Let's take a look and give a brief explanation to the 200 million shareholders:

 
1. Huge disagreement on interest rate cuts! S&P falls for three consecutive days.
The three major US stock indices showed mixed results again, with the Dow rising slightly by 0.08%, the Nasdaq falling by 0.51%, and the S&P 500 index dropping by 0.22%, marking three consecutive declines. I believe there are two main reasons: first, concerns in the market regarding the Middle East crisis. Although the United States announced it would "delay for two weeks" the decision on whether to launch military action against Iran, this statement has not eliminated the possibility of the US directly striking Tehran.
Additionally, why is it a two-week delay instead of an advance or a longer period? It is very likely because they are waiting for Iran to deplete its long-range missiles before making further moves, which also allows time for negotiations. In short, there are still significant concerns in the market regarding the Middle East crisis.
Second, Federal Reserve official Waller issued a dovish signal, supporting a rate cut in July. However, the Federal Reserve's monetary policy report shows that the liquidity of U.S. stocks and bonds has deteriorated significantly. Furthermore, the market's expectations for a rate cut by the Federal Reserve are currently discounted.
In other words, the reason why US stocks fluctuate and the S&P continues to decline is that there is a significant amount of concern in the market, and there is also a great divergence regarding the Federal Reserve's interest rate cuts!
 
2. Federal Reserve Report: The US stock market has deteriorated.
The Federal Reserve released the latest monetary policy report, which indicates that U.S. financial stability is "resilient" amidst increasing uncertainty. After reading this, I laughed! Powell is really such a "old sixth"; his statements now are textbook-like, an ultimate display of linguistic artistry, fearing that the market might misunderstand something.
In addition, the report also shows that market liquidity has improved somewhat, but market conditions remain sensitive to news related to trade policies. It is still a game of "language art." However, the final point is quite sincere, stating that the liquidity of U.S. stocks and bonds has deteriorated substantially.
Overall, this Federal Reserve report aims to express that there is significant uncertainty in the U.S. stock market and the U.S. economy, but it does not dare to state it outright.
 
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