Overnight US stocks | "Sell-off of American" trade reversed, all three major indexes rose more than 1%. Intel Corporation (INTC.US) stock price hit a new high in over three years.

On Wednesday, there was a reversal in the "sell-off America" trade as President Trump announced the cancellation of new tariffs on Europe and stated that a framework agreement regarding Greenland and even the entire Arctic region has been reached. The price of 10-year US Treasury bonds rose, leading to a decrease in yields. The US dollar index increased compared to other currencies. US StocksAt the close, the Dow rose 588.64 points, or 1.21%, to 49,077.23 points; the Nasdaq rose 270.50 points, or 1.18%, to 23,224.82 points; the S&P 500 rose 78.76 points, or 1.16%, to 6,875.62 points. NVIDIA Corporation (NVDA.US) rose nearly 3%, Micron Technology, Inc. (MU.US) rose 6.6%, AMD (AMD.US) rose 7.7%. Intel Corporation (INTC.US) rose 6.7%, reaching a new high in over three years, after Bernstein raised the target price from $35 to $36. The Nasdaq China Golden Dragon Index rose 2.2%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose nearly 4%, and Baidu Inc Sponsored ADR Class A (BIDU.US) rose over 8%. European StocksThe German DAX30 index fell 167.35 points, or 0.68%, to 24,522.32 points; the UK FTSE 100 index rose 10.22 points, or 0.10%, to 10,137.00 points; the French CAC40 index rose 6.59 points, or 0.08%, to 8,069.17 points; the STOXX 50 index fell 21.43 points, or 0.36%, to 5,870.65 points; the Spanish IBEX35 index fell 0.94 points, or 0.01%, to 17,428.16 points; the Italian FTSE MIB index fell 265.96 points, or 0.59%, to 44,447.50 points. CryptocurrencyBitcoin returned above $90,000, rising over 1.9% intraday; Ethereum returned above $3,000, rising over 3%. US Dollar IndexThe US dollar index, which measures the dollar against six major currencies, rose 0.12% on the day, closing at 98.761 in the forex market. At the end of the New York forex market, 1 euro exchanged for $1.1682, lower than the previous trading day's $1.1712; 1 pound exchanged for $1.3415, lower than the previous trading day's $1.3428. 1 dollar exchanged for 158.50 yen, higher than the previous trading day's 158.29 yen; 1 dollar exchanged for 0.7964 Swiss francs, higher than the previous trading day's 0.7904 Swiss francs; 1 dollar exchanged for 1.3827 Canadian dollars, lower than the previous trading day's 1.3834 Canadian dollars; and 1 dollar exchanged for 9.1111 Swedish krona, lower than the previous trading day's 9.1369 Swedish krona. MetalsSpot gold closed up 1.38% at $4,828.94, temporarily erasing all gains during the day, as Trump's post mentioning an agreement with NATO on Greenland shook the market. Crude OilInternational oil prices edged up on the 21st. At the close, New York Mercantile Exchange's light crude oil futures for March delivery rose 26 cents to $60.62 per barrel, a 0.43% increase; and London Brent crude oil futures for March delivery rose 32 cents to $65.24 per barrel, a 0.49% increase. Macro News Trump: The US will participate in Greenland's mineral rights; The selection of the Federal Reserve Chair in Trump's mind may only be one left, hoping it can be like Greenspan in the 1990s. President Trump of the United States said: It seems that we have reached an agreement framework. The content of the Greenland agreement draft is completely in line with our expectations. The Greenland framework is a long-term agreement that puts everyone in a favorable position. It will involve mineral rights, and the United States will "permanently" participate in Greenland's mineral rights. We will explain this agreement later. In addition, Trump also mentioned: I want to say that the candidates for Federal Reserve Chair have been reduced to three, no, two. And maybe I can tell you, in my mind, there may only be one left. Rick Rieder, Global Chief Investment Officer of BlackRock, Inc., and former Federal Reserve Board member Kevin Warsh are suitable candidates to be the next Federal Reserve Chair. Regarding Kevin Hassett, I actually prefer to leave him in his current position. If Powell does not leave the Federal Reserve (continues as a member after stepping down as chair), his days will not be good. We get along well with Venezuela. We will sell Venezuelan oil at market prices and reserve a portion. Once again, I condemn the market for declining after good data. US pending home sales index in December plummeted, marking the largest drop since the pandemic. The US pending home sales index in December recorded the largest drop since April 2020, a rare occurrence as the real estate market seems to be gradually recovering. Data showed that last month's pending home sales index fell by 9.3% to 71.8, well below economists' expectations. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), said in a statement, "The real estate industry has not fully recovered. After several months of positive indicators such as pending contracts and transaction volume, the new contract data for December has weakened short-term market prospects." The US Supreme Court may reject Trump's request to dismiss Fed Governor Lisa Cook. According to reports, US Supreme Court justices have indicated caution in Trump's attempt to dismiss Fed Governor Lisa Cook on unsubstantiated accusations of mortgage fraud, believing that such actions may undermine the Fed's independence and impact financial markets. At a hearing in Washington on Wednesday, both conservative and liberal justices sharply questioned Acting Solicitor General John Sol for suggesting the court allow Trump to temporarily dismiss Cook during the lawsuit. Even justices appointed by Trump himself expressed doubt. Brett Kavanaugh said that the president's position would "weaken or even destroy the Fed's independence." Individual Stock News Apple Inc. plans to rebrand Siri as an embedded chat Siasun Robot&Automation or announce it in June. Apple Inc. (AAPL.US) reportedly plans to undergo a major transformation of Siri later this year, upgrading it to the company's first AI chat Siasun Robot&Automation, to compete with the generative AI led by OpenAI and Alphabet Inc. Class C. According to sources, this chat Siasun Robot&Automation, codenamed Campos, will be deeply integrated into the iPhone, iPad, and Mac operating systems, replacing the existing Siri interface. Users will be able to use the new service by shouting "Siri" commands or long-pressing the side button of the iPhone or iPad to wake it up, similar to using Siri now. The chat Siasun Robot&Automation feature is expected to launch later this year, with the company planning to unveil it at the Worldwide Developers Conference (WWDC) in June and officially release it in September. Jensen Huang discusses the three major breakthroughs in AI models over the past year. Jensen Huang, CEO of NVIDIA Corporation (NVDA.US), discussed three major breakthroughs in AI models in the past year at the Davos Forum. "Three important things happened to AI models last year. Firstly, there were many illusions when the models first appeared, but last year, these models could be applied in the research field, allowing for reasoning, planning, and answering questions without training in the relevant field, leading to the emergence of Agentic (agent-based AI)." Huang said that the second major breakthrough came from open-source models, with the launch of the first open-source inference model DeepSeek being a significant event for most industries and companies. Since then, the open-source inference model ecosystem has flourished, with many companies, research institutions, and educators able to do things using open-source models. The third area that has made tremendous progress is physical AI, which can understand not only language but also the physical world, such as understanding biological proteins, chemistry, and physics. In the physical field, AI can understand fluid dynamics, particle physics, and quantum physics.