Overnight News Highlights on March 1st

1. The Federal Reserve kept the federal funds rate target range unchanged at 3.5% to 3.75%, in line with market expectations. Several international financial institutions predict only one interest rate cut this year. 2. Federal Reserve Chairman Powell said at a press conference that a rate cut will only be considered when there is sustained progress in inflation. 3. Trump issued a temporary waiver for the Jones Act, aiming to reduce domestic maritime shipping costs in response to the rapid increase in energy prices. 4. Russia plans to provide naval escort for commercial ships to enhance protection for its own vessels and "shadow fleets." 5. Micron Technology expects third-quarter revenue to be around $33.5 billion, exceeding analysts' average forecast of $23.7 billion. Micron Technology's stock price rose by approximately 1% after hours on Wednesday. 6. Qatar Petroleum stated that the missile attack on Ras Laffan Industrial City has caused "extensive damage." The attack by Iran on the area sparked a fire. 7. Saudi Arabia's oil exports have recovered to more than half of normal levels. 8. Data released by the US Treasury on Wednesday showed that the total amount of US Treasury securities held by foreign entities increased by $34.8 billion to $9.31 trillion.