On Friday Eastern Time, the three major US stock indexes collectively closed lower. As of the close, the Dow Jones Industrial Average fell 0.18%, the Nasdaq fell 1.16%, and the S&P 500 index fell 0.65%. Nvidia rose and fell, now falling more than 5%, and rose more than 4% during the trading session.
Bitcoin rose above the $70000 mark, reaching a historic high. Digital currency concept stocks generally rose, with Marathon Digital up over 7%, Bitarms up over 6%, Coinbase on the Digital Currency Exchange up over 5%, Bit Digital up over 6%, Jianan Technology ADR up over 3%, and Weice Investment up over 9%.
Global News
Non farm payroll in the United States in February is stronger than market expectations, and salary growth has slowed down, releasing optimistic signals
The non farm payroll in the United States increased by 275000 people in February, reaching a new low since November 2023. It is estimated to increase by 200000 people, compared to a previous increase of 353000 people. The unemployment rate in the United States in February was 3.9%, a new high since January 2022, with an estimated 3.7%, compared to the previous value of 3.7%.
Foam is accumulating! Xiao Mo Warning: Bitcoin Reaches a New High or Delays Federal Reserve Rate Cuts
With Bitcoin breaking historical highs recently and the US stock market continuously breaking new highs, there have been concerns on Wall Street. Recently, JPMorgan Chase said in the latest report that the record rise of Bitcoin means that the foam in risky assets is growing, which may cause the Federal Reserve to postpone its interest rate cut plan later this year.
Is the chip moving? For the first time in history, the Philadelphia Semiconductor Index has surpassed the S&P 500, and everything has been taken crazy
Taking advantage of the AI wave, the semiconductor sector in the US stock market is currently very hot. The following comparison chart may be the most obvious: the ratio of the Philadelphia Semiconductor Index to the S&P 500 Index broke through 1 for the first time this Thursday - in other words, this is the first time in thirty years that the Philadelphia Semiconductor Index has surpassed the S&P 500 Index.
Is a 40% sharp drop in the Egyptian currency for "life-saving money" not necessarily a bad thing for the economy?
On March 6th local time, the Egyptian pound plummeted by 40% in just one day. The exchange rate on that day plummeted instantly from 1 US dollar to 31 Egyptian pounds to 50.55 Egyptian pounds, which seemed very tragic, but the official exchange rate set by the government was actually the one that plummeted. In the market, the Egyptian pound has long been at this price, reaching a low of 1 US dollar to 70 Egyptian pounds in January.
Is there no suspense that the European Central Bank's regulatory committee will announce interest rate cuts starting in spring?
With the latest interest rate decision released by the European Central Bank on Thursday, central bank officials have also ended their silence period. Several members of the European Central Bank's management committee expressed their views on future policy directions on Friday, stating that there is a high possibility that decision-makers will start cutting interest rates in the spring.
What is the origin of the members who initiated the hearing vote on the US Senate version of the Biosafety Act?
On the morning of March 6, 2024 Eastern Time, at a hearing held by the Senate Committee on Homeland Security and Government Affairs, the Senate version of the Biosecurity Act was passed with an overwhelming 11:1 vote.
Company News
Novo Nordisk's market value surpasses Tesla's star weight loss drug, expected to be approved in China within the year
On March 7th, the closing stock price of Danish pharmaceutical company Novo Nordisk surged by 8%, with a market value exceeding $600 billion, surpassing Tesla. Novo Nordisk revealed at the investor meeting that early clinical trials of the new generation of weight loss drugs have yielded positive results, with a weight loss of up to 13% after 12 weeks of use. In contrast, the company's globally listed GLP-1 star weight loss drug Wegovy (Smegglutide) can reduce body weight by about 6% after 12 weeks of use.
Will the leaked Vision Pro on Apple's official website be available for sale in China in advance?
Recently, Apple China's official website has quietly updated the compatibility descriptions of many accessory products, adding the words "Apple Vision Pro" to them. The outside world sees this as a signal that Vision Pro is about to officially enter the Chinese market.
It's Boeing again! A United Airlines plane's tire fell off during flight and damaged a car on the ground
On March 7th, United Airlines issued a statement stating that a Boeing 777-200 aircraft flying to Osaka, Japan experienced a tire drop accident while taking off from San Francisco, USA.