Overnight US stocks | The three major indexes closed higher. Amazon.com, Inc. (AMZN.US) ended a nine-session losing streak. Spot gold fell more than 2.2%.

On Tuesday, the three major indexes opened low and rose high, ending up in the green. The stock price of Amazon.com, Inc. (AMZN.US) closed up more than 1% on Tuesday, ending a continuous nine-day decline where the market value evaporated by billions of dollars. [US Stock Market]: At the close, the Dow Jones rose by 32.26 points, an increase of 0.07%, closing at 49533.19 points; the Nasdaq rose by 31.71 points, an increase of 0.14%, closing at 22578.38 points; the S&P 500 index rose by 7.05 points, an increase of 0.1%, closing at 6843.22 points. Technology stocks fell, with Tesla, Inc. (TSLA.US) dropping over 1.6%, Alphabet Inc. Class C (GOOG.US, GOOGL.US) dropping over 1%, AMD (AMD.US) dropping over 2%, and Meta Platforms (META.US) slightly falling. [European Stocks]: The German DAX30 index rose by 201.49 points, an increase of 0.81%, closing at 25013.99 points; the UK FTSE 100 index rose by 81.98 points, an increase of 0.78%, closing at 10555.67 points; the French CAC40 index rose by 44.96 points, an increase of 0.54%, closing at 8361.46 points; the Euro Stoxx 50 index rose by 47.57 points, an increase of 0.80%, closing at 6026.45 points; the Spanish IBEX35 index rose by 106.31 points, an increase of 0.60%, closing at 17954.31 points; the Italian FTSE MIB index rose by 336.30 points, an increase of 0.74%, closing at 45755.50 points. [Cryptocurrency]: Bitcoin fell by over 1.8%, closing at $67,626; Ethereum rose by over 5.4%, closing at $2,053.51. [Precious Metals]: Spot gold fell by 2.27%, closing at $4,878.09; spot silver closed at $73.541. [Oil]: WTI crude oil settled in New York at $62.33 per barrel; April Brent crude oil settlement price dropped by 1.8%, closing at $67.42 per barrel. [Macro News]: - US homebuilders' confidence index falls to a five-month low. In February, US homebuilders' confidence declined again due to concerns about continued affordability and high construction costs. The February NAHB Housing Market Index dropped to 36, its lowest since September last year. This number was below all expectations in a survey of economists except for one. A reading below 50 indicates that homebuilders who believe market conditions are poor outnumber those who believe they are good. - Federal Reserve Daly: The Federal Reserve must deeply study the impact of artificial intelligence in order to make the correct interest rate decisions. San Francisco Fed President Daly said on Tuesday that the Federal Reserve must carefully analyze data to determine if artificial intelligence is driving productivity growth, allowing the economy to grow faster without triggering inflation or tightening Federal Reserve policy as a brake. The Trump administration believes this has already happened, and some economists argue that investment in artificial intelligence will further boost productivity, creating an economic landscape similar to the 1990s with widespread computing and software. Daly noted that most macro productivity research has found limited evidence of a significant impact of artificial intelligence. This may be because improvements from localized investments need time to manifest or because the economy is still waiting for broader transformation. - Gursby: If inflation declines, there will be multiple rate cuts. Federal Reserve Gursby said that if inflation continues to fall to the 2% target level, there may be further rate cuts this year. He warned that service sector inflation remains high and stated that if price increases related to tariffs are temporary, policymakers will have leeway to take action. "I believe that if this situation proves to be temporary, and we can show that we are on the path to returning to a 2% inflation rate, I still think there may be several rate cuts in 2026, but we will have to wait and see," Gursby said. He added, "I want to see some evidence that interest rates are falling to 2%, and then rates can continue to fall." - Trump's tariffs lead to losses, companies increase currency hedging efforts. A survey by MillTech shows that tariffs and the devaluation of the dollar are prompting companies to increase currency hedging efforts after suffering millions of dollars in losses in the fourth quarter, indicating that the trade war is squeezing profits and reshaping corporate risk strategies. The survey found that eight out of ten surveyed companies suffered losses in the previous quarter due to unhedged currency positions. American companies lost an average of $9.9 million, while British companies lost an average of around 6.7 million ($9.1 million). Some companies reported losses exceeding $25 million. Significant currency fluctuations prompted finance chiefs to seek hedging in the fourth quarter. According to the survey, finance chiefs on average hedged 49% of their foreign exchange risk exposure using financial instruments, up around 3 percentage points from the third quarter. Nearly two-thirds of companies plan to increase their hedging ratio this year due to market fluctuations triggered by tariffs. [Stock News]: - Berkshire Hathaway continues to reduce holdings in Apple Inc. and increase holdings in New York Times Company Class A for the third consecutive quarter. The 13F report shows that Berkshire Hathaway, led by Buffett as CEO, reduced its holdings in Bank of America Corp (BAC.US) and Apple Inc. (AAPL.US) and increased its holdings in New York Times Company Class A (NYT.US). In the fourth quarter of last year, the company reduced its holdings by about 50.8 million shares of Bank of America Corp, 10.3 million shares of Apple Inc, marking the third consecutive quarter of reducing holdings in Apple Inc. At the same time, the company bought 5.1 million shares of New York Times Company Class A, with the stock price of New York Times Company Class A rising by over 3% in after-hours trading. As of September last year, American Express Company (AXP.US), Apple Inc., Bank of America Corp, Coca-Cola Company (KO.US), and Chevron Corporation (CVX.US) were Berkshire's largest holdings. - NVIDIA Corporation and Meta announce a long-term strategic partnership. NVIDIA Corporation (NVDA.US) and Meta Platforms (META.US) have announced a long-term strategic partnership. Meta is already the second-largest buyer of NVIDIA Corporation chips. Under the agreement, Meta will deploy millions of NVIDIA Corporation chips. The collaboration covers on-premise deployment, cloud, and AI infrastructure. Meta also plans to use NVIDIA Corporation's Grace central processor in the core of standalone computers for the first time. This deployment includes products based on NVIDIA Corporation's current Blackwell architecture as well as products from the upcoming Vera Rubin AI accelerator platform. - Tiger Global reduces holdings in tech giants such as Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR, Microsoft Corporation, and NVIDIA Corporation. Documents filed with the US Securities and Exchange Commission show that Tiger Global Management reduced its holdings in Amazon.com, Inc. (AMZN.US) by 9.3% to 10 million shares in the fourth quarter of 2025; reduced its holdings in Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) by 18.6% to 3.7 million shares; reduced its holdings in Microsoft Corporation (MSFT.US) by 16.4% to 5.5 million shares; reduced its holdings in NVIDIA Corporation (NVDA.US) by 6% to 11 million shares; and reduced its holdings in Meta Platforms (META.US) by 2.4% to 2.8 million shares of Class A stock. - Apple Inc. accelerates the layout of AI wearable devices, details of three new products revealed. Apple Inc. (AAPL.US) is accelerating the development of three new wearable devices targeting the AI hardware track, an area currently being pursued by giants like OpenAI, Meta, and others. Sources revealed that the new products include smart glasses, an AI pendant that can be worn on a shirt or as a necklace, and AirPods with enhanced AI functionality. All three devices are built around the Siri digital assistant and execute commands through visual perception. These unreleased devices all require connection to an iPhone and rely on different camera systems of varying specifications. AirPods and the pendant are positioned as entry-level, equipped with low-resolution cameras to assist AI operations, rather than for taking pictures; the smart glasses are positioned as high-end with more features. Apple Inc. CEO Cook revealed at an internal meeting this month that Apple Inc. is fully committed to AI devices, developing "new product categories" powered by artificial intelligence and stating that "the world is changing rapidly." [Major Bank Ratings]: - Bank of America Corp: Upgraded the neutral rating on US Albemarle Corporation (ALB.US) to Buy; raised the target price from $167.00 to $190.00.