Overnight US stocks | The three major indexes did not all move in the same direction. Tesla, Inc. (TSLA.US) closed down by 6.34%.

On Tuesday, the three major indexes fluctuated, with the Nasdaq closing lower. Federal Reserve Chairman Powell reiterated that there is no need to rush to adjust interest rates. The market is waiting for the latest Consumer Price Index (CPI) report on Wednesday. [US Stock] As of the close, the Dow Jones rose 123.24 points, or 0.28%, to 44593.65 points; the Nasdaq fell 70.41 points, or 0.36%, to 19643.86 points; the S&P 500 rose 2.06 points, or 0.03%, to 6068.50 points. Tesla, Inc. (TSLA.US) fell 6.34%, marking its largest single-day decline since December 18, 2024. [European Stocks] The German DAX30 Index rose 109.05 points, or 0.50%, to 22042.47 points; the FTSE 100 Index rose 9.24 points, or 0.11%, to 8777.04 points; the French CAC 40 Index rose 22.68 points, or 0.28%, to 8028.90 points; the Euro Stoxx 50 Index rose 35.05 points, or 0.65%, to 5393.35 points; the Spanish IBEX35 Index rose 66.40 points, or 0.52%, to 12779.00 points; the Italian FTSE MIB Index rose 347.83 points, or 0.93%, to 37590.00 points. [Asia-Pacific Stock Market] The Nikkei 225 Index was slightly higher, the KOSPI Index in South Korea rose 0.71%, and the Jakarta Composite Index in Indonesia fell 1.75%. [Cryptocurrency] Bitcoin fell more than 1% to $96325.87. [Gold] At the close of New York, spot gold fell 0.32% to $2898.84 per ounce. At 10:16 Beijing time, it rose to $2942.68 per ounce, hitting a new high, but quickly fell and continued to decline, showing a volatile downward trend throughout the day. COMEX gold futures fell 0.26% to $2926.90 per ounce, hitting a new high at $2968.50 per ounce at 10:16, but then fell to a daily low of $2907.00 per ounce at 21:19. [Crude Oil] By the close of the day on the 11th, light crude oil futures for delivery in March on the New York Mercantile Exchange rose by $1.00 to close at $73.32 per barrel, up 1.38%; Brent crude oil futures for delivery in April rose by $1.13 to close at $77.00 per barrel, up 1.49%. [USD] The US dollar index, which measures the dollar against six major currencies, fell 0.33% to 107.963 at the end of the forex market. By the end of the New York foreign exchange market, 1 euro exchanged for $1.0358, higher than the previous trading day's $1.0307; 1 pound exchanged for $1.2438, higher than the previous trading day's $1.2367. 1 dollar exchanged for 152.49 yen, higher than the previous trading day's 151.98 yen; 1 dollar exchanged for 0.9132 Swiss francs, higher than the previous trading day's 0.9114 Swiss francs; 1 dollar exchanged for 1.4294 Canadian dollars, lower than the previous trading day's 1.4308 Canadian dollars; 1 dollar exchanged for 10.8636 Swedish kronor, lower than the previous trading day's 10.9161 Swedish kronor. [Macro News] Federal Reserve Chairman Powell: No rush to cut interest rates. Federal Reserve Chairman Powell began a two-day hearing in Congress on Tuesday, conveying a simple message to Congress: due to strong economic performance, the Federal Reserve can slowly decide when and whether to cut interest rates. According to a prepared speech, Powell will tell senators on the Banking Committee: "Given that our policy stance is not as restrictive as before, and the economy is still strong, we do not need to adjust our policy stance rapidly." Powell also defended last year's rate cuts as a necessary adjustment to address the moderation in inflation and labor market conditions. Looking ahead, he said if inflation does not continue to decline to target levels and the economy remains stable, the Fed may keep rates unchanged for a longer time. Powell said if labor market conditions unexpectedly weaken or inflation falls faster than expected, the Fed may cut rates. New York Fed President Williams: Inflation continues towards 2% but achieving the target may take time. New York Federal Reserve Bank President John Williams said he expects inflation to continue slowing towards the Fed's 2% target, but warned that policy-related uncertainties cast a shadow over the economic outlook. "A moderately restrictive policy stance should support inflation returning to 2%, while maintaining strong economic growth and labor market conditions," Williams said on Tuesday. "But it is worth noting that economic prospects remain highly uncertain, especially in potential fiscal, trade, immigration, and regulatory policies." Former Treasury Secretary warns price pressures could erupt again, says this rate cut cycle may have ended. Four years ago, former US Treasury Secretary Lawrence Summers accused US fiscal and monetary policy makers of excessive stimulus, which could trigger the biggest inflation surge in a generation. Four years later, he warns that there is a risk of price pressures erupting again. "This could be the single most dangerous moment in terms of inflation since the policy mistakes of 2021 which led to serious inflation," Summers said. "This is the moment where we have to be extremely careful about inflation, even before you see what policies are coming out of the White House." He urged the Federal Reserve to remain vigilant against price pressures and suggested that the current cycle may not see further rate cuts. [Stock News] Apple Inc. (AAPL.US) subsidiary Beats launches new sports headphones with heart rate monitoring. Apple Inc.'s subsidiary, Beats, has launched the highly anticipated Powerbeats Pro 2 wireless sports headphones, adding features such as noise cancellation and heart rate monitoring, with improvements in appearance. Powerbeats Pro 2 has added features like Apple Inc. Ai.The features of rPods include a transparent mode that makes it easier to hear external noise, equipped with an H2 chip to improve sound quality. The earbuds also have improved spatial audio (3D auditory experience), a smaller casing, and the ability to wirelessly charge.JPMorgan Chase (JPM.US) expects double-digit growth in trading and investment banking business in the first quarter. Trading revenue and investment banking revenue in the first quarter of JPMorgan Chase may both achieve growth of over 10%, as volatility and the recovery of capital markets continue to benefit Wall Street. Chief Operating Officer Jenn Piepszak said at a conference hosted by Bank of America Corp on Tuesday that trading revenue may grow in the "low double digits" year-on-year, while investment banking revenue may grow in the "mid double digits". She mentioned that the trends from the last few months of last year are continuing, when the company's traders delivered their best performance in the fourth quarter of the year. Major Bank Ratings Citigroup: Raises target price on McDonald's Corporation (MCD.US) from $336 to $360.