Investors were greatly disappointed by Federal Reserve Chairman Powell's speech on Thursday EST, and did not give any sign of action on rising US bond yields. Affected by the news, US bond yields broke through 1.5%, and the three major US stock indexes collectively fell. The NASDAQ weighed more than 3% during the intraday period, taking back all gains during the year.

However, international oil prices rose sharply on the same day. According to the news, Saudi Energy Minister Abdulaziz bin Salman announced during the 14th meeting of the oil ministers of the Organization of Petroleum Exporting Countries (OPEC) member countries and some non-OPEC oil producers on the evening of March 4, local time, that the period for Saudi voluntary crude oil production cuts of 1 million b/d will be extended by one month until the end of April this year.

Affected by this news, international oil prices soared rapidly. New York crude oil closed up more than 4.6% on the same day, breaking the 64 US dollar mark, a new high since January last year.

China Securities

• Popular Chinese securities generally weakened after the market, while Ehang Intelligence and Mingchuang Premium fell by more than 5%

After the market, New Oxygen fell by more than 6%, Ehang Intelligence and Mingchuang Premium fell by more than 5%, Maverick Electric fell by more than 4%, and NIO and Bilibili fell by more than 3%.

According to the news, Deutsche Bank said that NIO will enter the European market in the second half of this year, and investors may have underestimated the potential sales volume of its products in Europe. The weak trend in the company's stock price may be a good buying opportunity, reaffirming NIO's target price of $70.

Morgan Stanley, on the other hand, gave Xiaopeng a rating to increase its holdings and raised the target price to $70, saying that Xiaopeng Motor's two new models using lithium iron phosphate have improved the ability to learn autonomous assisted driving and autonomous driving, which will be a good guarantee for Xiaopeng Motor's brand value.

Active US stocks after the market

• Costco Q2 had net sales of US$43.9 billion and net profit of US$951 million, down 2% after the market

Costco announced the results for the second fiscal quarter of FY2021 after the market on Thursday:

• Q2 net sales of US$43.888 billion, compared with US$38.256 billion in the same period last year, an increase of 14.7% over the same period last year;

• Net profit attributable to the company was US$951 million, and market expectations were US$1,079 million, compared to US$931 million in the same period last year.

• Earnings per share were $2.14, and the market expected $2.43, compared to $2.1 in the same period last year.
  

In addition, in the second quarter, the company's same-store sales in the US increased 11.4% year over year; same-store sales in Canada increased 13.4% year over year; same-store sales in other international regions increased 21.5% year over year; and e-commerce sales increased 75.8% year over year.

As net profit fell short of expectations, Costco fell 2% after the market.

• The Tesla market then fell close to 2%, and billionaires threw away 1.8 million Tesla shares

Ron Baron, a billionaire and long-term shareholder of Tesla, said that its company sold 1.8 million Tesla shares because it accounted for too much of the investment portfolio, and selling Tesla shares could “mitigate customer risks.”

Ron Baron said that it was very painful to sell every Tesla share, but he personally didn't move at all about Tesla's more than 1.1 million shares.