Market analysis for February 6

Today is February 6th. Powell's speech and new economic data together affected the market, leading to an adjustment in interest rate cut expectations, and a double decline in the US stock and bond markets. Although US stocks experienced a brief rise, they soon experienced a correction. The three major indices failed to continue their gains and were separated from their historical highs. Specifically, McDonald's fell nearly 4% after announcing its earnings report, making it one of the biggest losers in the Dow Jones Index.

Meanwhile, Apple bucked the trend and rose by nearly 1% after the launch of Vision Pro, while Tesla rebounded slightly after a sharp drop. In the chip industry, despite poor overall market performance, companies such as Nvidia achieved a reverse market rise, reaching record highs for three consecutive days. Among other industry trends, Estée Lauder's stock price surged 12% after announcing the layoff plan, while the AI concept stock Palantir rose more than 10% in post-market trading after the earnings report.

In Europe, the overall performance of the stock market was poor, but Novo Nordisk rose 3.6% after reaching a record high. Powell stressed that although interest rates will not be cut immediately, the Federal Reserve is actively considering future interest rate cuts and hopes to have greater confidence in reducing inflation to 2%. US bond yields and the US dollar index both rose, while crude oil prices rebounded after falling for three consecutive days.

In China, the stock market showed a strong rebound, especially in the technology sector. Wealth stocks such as Ningde Era performed strongly. China Securities also performed well in the US stock market. Alibaba and JD achieved gains of nearly 4% and nearly 3% respectively. At the same time, the China Securities Regulatory Commission emphasized strict supervision of market manipulation to ensure the stable operation of the market. In addition, the management of stock pledge risk was also mentioned, indicating that the overall risk of the market is manageable.