On Monday, March 4, the rebound of technology stocks pushed the Asia-Pacific stock market higher. The Nikkei 225 exceeded 40,000 points. European stocks were mixed. U.S. stock futures were mixed. Nasdaq futures rose. Bitcoin rose by more than 6% during the day and stood at $65,000. .

This week will usher in a busy "data week". The market will pay close attention to Japan's February Tokyo CPI, the European Central Bank's interest rate meeting, Powell's congressional testimony, and U.S. non-farm data. In addition, "Super Tuesday" Republican and Democratic primary voting , US consumer stock results will also be announced.

Apple fell nearly 1% before the market opened. On the news, Apple was fined 1.8 billion euros by the European Union for abusing APP STORE rules. Apple will appeal the European Commission's decision, saying the facts simply do not support it.

Nasdaq futures rise, most AI concept stocks rise

U.S. stock futures were mixed, with Nasdaq 100 futures up 0.14%, S&P 500 futures down 0.04%, and Dow futures down 0.17%.

The "Seven Sisters" of U.S. stocks had little fluctuation before the market opened, with Nvidia rising more than 1%. AI concept stocks continued to rise, with Bigbear.ai rising by more than 8%. Following the decline of new energy automobile stocks in Hong Kong stocks, Xpeng Motors' U.S. stocks fell more than 4% before the market opened.

TSMC rose nearly 3% before the U.S. stock market opened. Today, TSMC rose 5.22% during Taiwan stock trading, with its stock price hitting a record high.

Super Micro Computer's U.S. stocks rose more than 14% before the market opened, and Dex Outdoor rose more than 7%. S&P Dow Jones Indices previously announced that Super Micro Computer (SMCI) and Dex Outdoor will be included in the S&P 500 Index to replace Whirlpool (WHR) and Zion Bank (ZION).

Analysts pointed out that the rebound in U.S. stocks may depend on employment data and Powell's testimony this week. As recent data showed that the U.S. economy is dynamic, market expectations for the Federal Reserve to begin an easing cycle have been reduced. Swaps traders now believe the Fed will cut interest rates for the first time in July, compared with their forecast early last month for May.

OCBC Bank strategists Frances Cheung and Christopher Wong noted in a note:

Powell should reiterate his patience and stress that he is not in a hurry to cut interest rates, which are well known and should not have much impact on the market. But a stronger signal from Powell to push back could lead to further hawkish pricing.

In addition, U.S. corporate profits increased by nearly 8% in the fourth quarter of last year, offsetting macroeconomic uncertainty, and the rise in U.S. stocks shows little sign of slowing down. At the same time, the craze surrounding artificial intelligence has surprised Wall Street strategists, who have raised their target prices for U.S. stocks.

European stocks mixed

The European Stoxx 50 index rose 0.16%, the German DAX index fell 0.03%, the British FTSE 100 index fell 0.2%, and the French CAC 40 index fell 0.21%.

"Ocean's Eleven" saw mixed gains and losses, with ASML and SAP rising by more than 1%, and Louis Vuitton falling by more than 1%.

Japanese stocks break key psychological threshold

Chip stocks surged, SK Hynix rose more than 7%, TSMC hit a record high, and the rebound in technology stocks drove the rise in Asia-Pacific stock markets. Japan's blue-chip index Nikkei 225 exceeded 40,000 points for the first time.

Charu Chanana, strategist at Saxo Capital Markets in Singapore, said:

Breaking through key psychological thresholds could create resistance and trigger volatility for the index's upward trajectory. But if structural factors remain favorable and the yen continues to weaken, this is likely to be a bullish sign rather than fueling concerns that Japanese stocks are overbought.

Bitcoin rose more than 6% on the day, surpassing $65,000

Bitcoin rose for the second day in a row, rising more than 6% in the day to exceed $65,000, setting a new high since November 2021 and about $4,000 away from the all-time high. Traders are betting that Bitcoin will soon surpass the pandemic-era price record of nearly $69,000.

Crude oil remains high

Oil prices stabilized near their highest levels this year after OPEC+ extended production cuts to avoid a global crude glut, with U.S. WTI crude holding around $80 a barrel, holding near the four-month high set on Friday, and Brent crude rising to US$83.92/barrel.