Market Analysis on March 15th

Today is March 15th. Last night, the US February Producer Price Index (PPI) data showed that inflation exceeded expectations, causing market concerns about ongoing inflationary pressures. The PPI rose by 1.6% year-on-year, the highest level since September last year, with a 0.6% increase month-on-month, double the market expectations. Core PPI (excluding food and energy prices) also accelerated on a monthly basis. The release of this data pressured the US stock market, especially with tech stocks leading the decline. The S&P 500 and Nasdaq indexes fell for the second consecutive day, while the Dow Jones Industrial Average halted its three-day winning streak.

In the technology sector, Tesla has dropped by over 4% for two consecutive days, while Microsoft has risen against the market by over 2%, hitting a historical new high. Chip stocks also generally fell, with Nvidia falling nearly 5% intraday, closing down over 3%. AMD has fallen nearly 4% for two consecutive days. Adobe, after its financial report, dropped by over 10% in after-hours trading.

Following the release of US inflation data, US Treasury prices accelerated their decline, with the 10-year US Treasury bond yield rising by more than 10 basis points intraday, reaching a two-week high. At the same time, the US Dollar Index also saw a rapid rebound, hitting a weekly high. Despite the US retail sales data showing a 0.6% month-on-month increase, it was still below expectations. Autos and parts dealers contributed the most to the month-on-month increase in retail sales, but analysis points out that the 'actual' retail sales, when excluding the effects of inflation, actually saw a significant decline.

The crude oil market performed strongly, with Brent crude oil hitting a four-month high and the closing price of US crude oil surpassing $80 for the first time in four months. In contrast, the price of gold accelerated its decline after the release of the PPI data, with the price of futures gold falling by more than 1% at one point. After rising above $0.0737 million, Bitcoin experienced a significant pullback.

In the Chinese market, during the U.S. stock trading session, Chinese concept stocks fell by nearly 3%, ending a four-day consecutive uptrend and dropping from a three-month high. Among them, the decline of Bilibili, and new energy car stocks Xiaopeng Motors and NIO was particularly significant. Offshore renminbi against the U.S. dollar exchange rate fell more than 100 basis points intraday, breaking below 7.20. The A-share market rose and then fell, with the three major indexes slightly down. AI and flying car sectors led the decline, while the innovative pharmaceutical sector collectively rebounded. This series of dynamics reflects the global financial market's sensitive response to U.S. inflation data, while also showcasing the vulnerability of technology stocks in market fluctuations.

======= I am the dividing line =======

Moomoo account opening link.