According to Jinshi, Morgan Stanley strategist Michael Wilson said that key U.S. economic data is "mixed" and stock market volatility has increased, and investors should increase holdings of defensive sectors such as basic consumer goods. April inflation data released next week will provide new clues about the U.S. economy, and employment data released last Friday showed that the labor market is cooling. Some traders believe that the latest employment data indicates that the Federal Reserve will start cutting interest rates as early as September. In the uncertain context of market pricing and the leading position between stocks being affected by potential outcomes, investors may consider increasing holdings of defensive stocks such as utilities and necessities.