On May 12, #加密圆桌会议要点 5, there was breakthrough progress in China-U.S. trade negotiations. With the initial consensus reached between the two countries, market risk appetite quickly heated up, becoming the catalyst for the violent rebound in U.S. stocks. The Dow Jones index soared 2.8% in a single day, while the S&P 500 and Nasdaq indices surged 3.2% and 4.3% respectively, shifting market sentiment from cautious observation to a phase of optimism. This round of increase is not only a direct response to the easing of trade frictions but also reflects a rebound in market confidence regarding a 'soft landing' for the global economy.