According to a research report by Huatai Securities, last week witnessed a resurgence in the A-share market amidst shrinking trading volumes, as domestic policy anticipations intertwined with external tariff developments. With the convening of the Political Bureau meeting, the conclusion of the earnings announcement season, and the phase-one resolution of tariff disputes, the market could experience a brief "window of opportunity." During this phase, funds have adopted a more cautious stance, with investors awaiting fresh variables to guide their investment strategies. Broadly, the "bottom-line focus" emphasized by the Political Bureau meeting bolsters risk appetite, yet tariff uncertainties persist. As a result, market volatility may continue until the holiday season. Investors should closely monitor the progress of Sino-US tariff negotiations, high-frequency data during the May Day holiday, and the April non-farm payroll figures from the US. In terms of portfolio allocation, given the high level of uncertainty, investors are prioritizing risk-adjusted returns, maintaining a balanced approach with mid-term dividends, domestic demand, and controllable investments, while slightly increasing exposure to high-value stocks in the service consumption and technology sectors.