U.S. stocks opened higher again before Federal Reserve Chairman Powell testified before Congress on the second day. Chip stocks continued to push the market higher. Nvidia, which Mizuho reiterated its buy rating and believes it is still the biggest winner in the recent artificial intelligence (AI) craze, has risen for six consecutive days and is set to hit a record high for six consecutive days.

Despite lowering its inflation expectations, the European Central Bank remained on hold for four consecutive meetings. Central Bank President Christine Lagarde said there was not enough confidence that inflation would fall to target, and policymakers agreed that more information would be available by June. European stocks and bonds rose after the ECB decision was announced. The stock price of Novo Nordisk, Europe's most valuable pharmaceutical company, which received positive trial results for its experimental oral weight-loss drug, rebounded strongly by more than 8% during the session, hitting a record high.

In the foreign exchange market, after the European Central Bank meeting, the euro expanded its losses to a new daily low, and then rebounded quickly. After wage data grew more than expected, the Bank of Japan governor and other officials made hawkish remarks, the media said some central bank officials favored early action, and Japan's largest labor union demanded the highest wage increase in 30 years, the market expected the Bank of Japan to raise interest rates this month. With expectations rising, the yen accelerated its gains, rising more than 1% to a one-month high. A stronger yen pushed the U.S. dollar index further down.

The Dow opened up 0.5%, the S&P 500 rose 0.6%, and the Nasdaq rose 0.7%. U.S. stocks opened up nearly 7%, and it gained. Tesla continued to fall 1.1% at the opening, as its German factory shutdown may last longer than expected. The chip sector continued to strengthen, with Intel opening up nearly 2.7%, Nvidia up 1.3%, AMD up 0.7%, and US stocks opening up 2.7% after TSMC radio stock hit a new high.

Among the popular Chinese concept stocks, Bilibili's fourth-quarter game revenue fell more than expected, and its stock price fell more than 5% at the opening. Hesai Technology opened up 2.2%. The company signed a strategic joint venture agreement with Leapmotor, while Xpeng Motors fell more than 4%. %, Li Auto fell 2.3%, and NIO fell about 1.6%.

All major European stock indexes rose. After announcing that early clinical trials showed that the experimental oral weight-loss drug Amycretin can reduce the weight of subjects by an average of 13%, Denmark-listed Novo Nordisk rose by more than 8%. After falling for two consecutive days, its stock price rebounded strongly and hit a record high.