In the context of the close attention of the Federal Reserve's monetary policy and the successive release of U.S. corporate earnings reports, the United States ** showed a slight ** on February 6. At the same time, China's capital market showed strong growth momentum, with the offshore renminbi exchange rate rebounding significantly, with the FTSE China A50 Index and China Concept** both recording significant gains.
The Fed's remarks had a positive impact on market sentiment. Despite concerns about the stability of the banking sector, Fed Chair Jerome Powell said that weakness in the commercial housing market could lead to challenges for small banks, but the issue is expected to be manageable. Cleveland Fed President Mester is leaning towards three rate cuts in 2024, but stressed that the decision to cut rates needs to be supported by more economic data. Minneapolis Fed President Kashkari expressed optimism about the recent inflation data, noting that inflation remains around 2%.
Yellen noted that smaller banks face the risk of concentration in commercial real estate, while emphasizing that deficit reduction is critical to maintaining fiscal sustainability. The tech field was mixed, with Tesla, Google and Apple slighteningly, while Nvidia, Netflix and Meta were among others.
In the currency market, the offshore yuan (CNH) rebounded to 7 against the US dollar at **261 points on February 62006 yuan. The FTSE China A50 Index** reflects the market's positive expectations for Chinese assets.
The performance of the Chinese concept market is particularly eye-catching, and the Nasdaq China Golden Dragon Index rose 593%。In the field of new energy vehicles, the stock prices of NIO, XPeng and Li Auto have soared**. Other Chinese stocks such as Dada, iQiyi, Bilibili, JD.com, NetEase, Alibaba, Tencent and Pinduoduo also saw significant gains.
AI concept stock Palantir shares a significant 308%。The company's fourth-quarter revenue increased 20% year-over-year to 60.8 billion US dollars, with a net profit of 9339$10,000. Full-year revenue was 22$2.5 billion, net profit of 2$1 billion, the first time in the company's history that it has achieved annual profitability.