On Wednesday, March 6, European stocks opened lower and moved higher, U.S. stock futures collectively rose, popular Chinese concept stocks generally rose, Bitcoin recovered its losses and regained US$67,000, and the Egyptian pound fell by more than 20%.

Tonight, Federal Reserve Chairman Powell is about to go to Capitol Hill to deliver the latest semi-annual monetary policy reports in the House of Representatives and the Senate respectively. Analysis points out that taking into account the resilience of the US economy and the stickiness of inflation, Powell's testimony will once again emphasize that there is no rush to cut interest rates. There are also signs that the rally in U.S. stocks is unsustainable due to overvaluation.

Before Powell takes the stage, "small non-farm payrolls" U.S. ADP data will be released tonight. The market expects the labor market to heat up. U.S. ADP employment may increase by 150,000 in February from the previous value of 107,000.

After the release of ADP data, U.S. stock index futures continued to rise, with Nasdaq 100 futures rising 0.83%, S&P 500 futures rising 0.56%, and Dow futures rising 0.37%.

Previously released ADP data on employment were in line with expectations but rebounded from the previous value. Wage growth for job-changers accelerated for the first time in more than a year, and service industry jobs continued to grow significantly. The analysis pointed out that the labor market is dynamic and this data will not affect the Federal Reserve's interest rate decision this year.

JD.com surged more than 13% before the market opened. On the news, JD.com announced its fourth quarter results as of the end of last year. Revenue for the quarter was 306.1 billion yuan, a year-on-year increase of 3.6%, exceeding market expectations of 299.9 billion yuan.

JD.com also said that the board of directors has approved a new share repurchase plan, and the company can repurchase shares worth no more than US$3 billion within the next 36 months from March 2027.

JD.com rose nearly 11%, "Seven Sisters" rose slightly

Following yesterday's decline, U.S. stock index futures rose collectively. As of press time, Nasdaq 100 futures rose 0.69%, S&P 500 futures rose 0.35%, and Dow futures rose 0.18%.

The "Seven Sisters" of U.S. stocks and popular U.S. stocks rose slightly, with AMD rising by more than 1% and Tesla rising by nearly 1%.

Before the U.S. stock market opened, popular Chinese concept stocks generally rose. JD.com rose nearly 11%, Bilibili rose more than 4%, Tencent Music rose nearly 4%, and Baidu and Alibaba rose more than 1%.

European stocks open lower and move higher

European stocks opened slightly lower and then moved higher. The European Stoxx 50 index rose 0.42%, the German DAX index rose 0.21%, the British FTSE 100 index rose 0.28%, and the French CAC 40 index rose 0.21%.

Bitcoin regains $67,000, gold maintains new highs

Cryptocurrencies rallied again on Wednesday as gold and bitcoin prices sent mixed messages about risk appetite in global markets.

Bitcoin once regained $67,000, recovering from an intraday drop of up to 12%.

Ethereum hit a new high since the end of 2021, temporarily trading at $3,829, up more than 7% during the day.

Gold, which also surged to a record high in the previous session, was little changed today as expectations of U.S. interest rate cuts and geopolitical tensions drove gold higher.

Egyptian pound drops 36%

Egypt's Cairo EGX30 stock index rose more than 4%, while the Egyptian pound fell 36%.

The Egyptian pound plummeted after the Egyptian central bank raised interest rates at an unscheduled meeting and said it would allow the market to determine the exchange rate. Egypt is seeking to ease a severe shortage of hard currency and secure billions of dollars in new loans from the International Monetary Fund.