On the news side, after two days of monetary policy meeting, the Federal Reserve announced a 25 basis point interest rate cut, the first rate cut in 10 years in line with market expectations, but as Federal Reserve Chairman Powell repeatedly stressed that "our goal is to support economic expansion", there is no urgent reason to continue to cut interest rates in the short term; and the market for more than this year; Expectations for the second interest rate cut were disappointed, and there was no market-friendly dove talk. All three major U.S. stock indexes fell by more than 1%. The good news is that the Brazilian central bank accidentally cut interest rates by 50 basis points, while the Hong Kong Monetary Authority cut interest rates by 25 basis points. For the Central Bank of China, it is expected that it will not see the central bank's response until the expiration of MLF on August 15. By then, economic and financial data have been released, which determine whether the central bank will follow the key factors of interest rate reduction. The twelfth round of high-level economic and trade consultation between China and the United States concluded. The two sides discussed China's increasing procurement of agricultural products from the United States in accordance with domestic needs and that the United States would create good conditions for procurement. The next round of high-level economic and trade consultation will be held in September in the United States. On the market side, the problem of large-scale trading volume can not be enlarged, which is reflected in the fact that although the index is rising, the activity is obviously not enough, and the hot spots are not very prominent, so the game needs to control the position well.