The global market is staging a collective carnival driven by expectations. Last night (Monday, November 10th), this momentum was concentrated in the US stock market, with technology and AI sectors leading the market to soar again. Latest US stock closing data (November 10th): The S&P 500 index rose 1.54% to close at 6832.43 points. The Dow Jones Industrial Average rose 0.81% to close at 47368.63 points. The Nasdaq Composite Index surged 2.27% to close at 23527.17 points. The core driving force behind this round of gains is not the impressive performance that has already been announced, but the market's tight grasp of two "upcoming good news". Firstly, the government's "opening of doors" is imminent, and the biggest positive news for the market at present is the optimistic expectation that the government shutdown is expected to end. This means that the huge amount of cash accumulated in the TGA account of the Ministry of Finance will flow back into the market, like a 'small release'. The stuck inflation and employment report (especially the September data) is about to be released, which will provide key basis for the Federal Reserve's decision in December. Bet on interest rate cuts: The market is betting that the clarity of data (or indicating an economic slowdown) will increase the likelihood of the Federal Reserve cutting interest rates in December. Secondly, Trump's introduction of the "tariff dividend" has heightened expectations, and his concept of returning tariff benefits (reportedly up to $2000 per person) to the public has been interpreted by the market as an upgraded version of "helicopter money". Although the details and feasibility are questionable, this news undoubtedly provides a sweet illusion of a 'new round of excitement'. Driven by these two 'new stories', the trends of different assets clearly reflect the underlying expected logic: The sharp rise in US stocks, especially technology stocks, is a direct response to the "return to certainty" and "AI story reignition". The government's reopening and AI narrative repair have allowed funds to flow back in. Gold skyrocketed: On Monday, the price of gold surged nearly 3% (breaking through $4100). The market trading is a combination of "government easing (TGA)+central bank easing (expected December interest rate cut)+fiscal easing (tariff dividend)". Weakness (or high volatility) of the US dollar: The US dollar index (DXY) is not performing well. As market bets on a rate cut in December intensify, the upward potential of the US dollar is being suppressed. Bond market decline (yield increase): Risk aversion subsides. The outflow of funds from safe haven assets such as treasury bond bonds to risky assets such as stock markets has led to the decline of bond prices and the rise of yields. The underlying logic of this market trend is not that the economy has really improved, but that the market has found a new story of "liquidity return". Government opens doors → data regression → betting on Fed rate cuts → AI reignites. This chain is currently completely built on 'expectations'. This market trend is like a paused movie finally pressing the play button, with lights, music, and applause all playing simultaneously. Can reality sustain such high expectations when the government truly opens its doors and when months of hidden inflation and employment data are made public?