$Dow Jones Industrial Average(.DJI.US)$NASDAQ Composite Index(.IXIC.US) On Friday, the three major U.S. stock indices all rose, as market expectations for a 25 basis point rate cut by the Federal Reserve strengthened further. The preliminary University of Michigan Consumer Sentiment Index for September was 69, higher than the expected 68.5. Investors' focus has shifted to next week's Federal Reserve monetary policy meeting, with expectations for a 50 basis point rate cut heating up again.

Despite the strong rally in the market last week, I am not entirely optimistic about this upward trend. The rotation of tech stocks to prop up the market makes me uneasy.

Political factors are also exacerbating market volatility. If Harris wants to win the presidential election, she needs to cut rates early and push the stock market higher to boost voter confidence; Trump, on the other hand, hopes for a market crash to create negative sentiment. The sharp fluctuations in U.S. stocks on Wednesday largely reflected the political impact of the Harris-Trump debate. The manipulation of U.S. economic data shows the profound influence of election dynamics on the market, a trend that may become more pronounced in the coming months and is worth deep attention.