On Thursday Eastern Time, the three major US stock indexes rose. As of the close, the Nasdaq rose 0.90%, reaching a new closing high, the Dow rose 0.12%, and the S&P 500 index rose 0.52%. Large tech stocks rose generally, AMD rose more than 9%, and its market value stood above $300 billion for the first time. Microelectronics and ARM rose more than 5%, while Gexin and Ansemy Semiconductor rose more than 3%, Intel and Applied Materials rose more than 2%, NVIDIA, Amazon, Google, Meta, Microsoft, and Netflix rose more than 1%, while Apple and Tesla fell slightly.
Most blockchain concept stocks fell, with Marathon Digital falling more than 16%, Jianan Technology falling more than 14%, Riot Blockchain falling nearly 10%, Ebon International and Bitmining falling more than 7%, and Coinbase rising more than 1%.
Popular Chinese concept stocks saw mixed gains and losses, with the Nasdaq China Golden Dragon Index falling 0.22%, Xiaopeng Motors up nearly 8%, NIO up over 5%, and Ideal Motors and New Oriental up over 1%; NetEase fell more than 3%, Baidu and Kingsoft Cloud fell more than 1%, while JD.com, Alibaba, Beike, and Pinduoduo saw a slight decline.
Global News

The core PCE price index in the United States rose 2.8% year-on-year in January, the smallest increase since March 2021
The core PCE price index in the United States increased by 0.4% month on month in January, marking the largest increase since February 2023, with an estimated 0.4%, compared to the previous value of 0.2%; The core PCE price index in the United States increased by 2.8% year-on-year in January, the smallest increase since March 2021, estimated to be 2.8%, compared to the previous value of 2.9%.
The US and China bond markets are in a state of ice and fire! The inverted spread deepened to -191BP
The domestic bond market is booming, but US bond issuances are frequently facing setbacks. Under the internal and external differentiation, the degree of inverted interest rate spread between China and the United States has once again deepened to -190.86bp (132.25bp at the end of last year). The employment and inflation data released in February remain strong, and market expectations for the timing of the Federal Reserve's interest rate cut have been postponed to June.
China and the United States hold a new round of foreign policy consultations
On February 27, 2024, Miao Deyu, Assistant Minister of Foreign Affairs and Director of the Policy Planning Department, held a new round of China US foreign policy consultations with Ahmed, Director of the Policy Planning Department of the US State Department, in Shanghai. Both sides have had frank, in-depth, and constructive communication on their respective foreign policies, international situations, and regional hot topics.
The United States will reach a compromise at the last minute! The government temporarily avoids suspending temporary funding or becoming the norm
On Wednesday Eastern Time, US congressional leaders reached an agreement at the last minute on six bills to provide temporary funding for multiple federal agencies, avoiding a partial shutdown of the US government.
Company News
"Weight loss miracle drug" rolls out a new battlefield: multiple pharmaceutical companies announce progress, how Eli Lilly and Novo Nordisk take on the initiative
Weight loss is more long-lasting, with only one injection per month and the ability to treat fatty liver... Recently, several pharmaceutical companies such as Viking, Anjin, and Bollinger Ingelheim have disclosed their active research data on their GLP-1 drugs, putting pressure on the two GLP-1 giants, Novo Nordisk and Lilly.
NetEase achieved a revenue of 103.5 billion yuan in 2023, with self-developed AI penetrating its core business and generating new momentum
On February 29th, NetEase released its financial reports for the fourth quarter and full year of 2023. According to the financial report, NetEase's performance in 2023 was stable, with a total revenue of 103.5 billion yuan; Under non GAAP, the net profit attributable to the company's shareholders from continuing operations was 32.6 billion yuan. In the fourth quarter of 2023, NetEase achieved a revenue of 27.1 billion yuan; Under non GAAP, the net profit attributable to the company's shareholders from continuing operations was 7.4 billion yuan.
Is there still a "big melon" in the OpenAI coup controversy? SEC Intervention Investigation: Is there any misleading behavior among investors
At the end of last year, the internal high-level coup of OpenAI once caught the attention of global investors.
Guo Minggui: Currently, several Vision Pro suppliers have expanded their production, maintaining the forecast that Apple may release Vision Pro before WWDC this year
Guo Minggui, an analyst at Tianfeng International, posted on X on February 29th that the prediction that Apple may release Vision Pro in more countries before WWDC this year is still maintained. Due to limited growth potential in the US market demand, with improved supply, it is advantageous to advance the global release schedule. However, the actual release time depends on Apple modifying the software to comply with regulations in other countries.