Chip stocks pause before CPI, SPDR S&P 500 bids farewell to record highs, NVIDIA still hits new highs, Chinese concept stocks start the Year of the Dragon with a bang

The S&P 500 and Nasdaq ended their four-day winning streak, while the Dow rebounded to a new all-time high. Chip stocks fell from their historical highs during intraday trading, with Nvidia initially rising over 3% and surpassing Amazon in market value before turning downward. Arm surged over 40% in early trading and closed with a 29% gain. European chip stock ASML hit a new all-time high for the eighth consecutive day. AI concept stock C3.ai rose over 9%, SMIC rose over 4%, and Chinese concept stocks rose over 2%. XPeng rose nearly 4%, while Pinduoduo and Bilibili rose over 3%. Nio and JD.com rose over 2%, and Bitcoin mining giant Canaan Technology surged nearly 17%. After the announcement of record-low mid-term inflation expectations among consumers, the two-year US Treasury yield approached its highest level since the December Fed meeting before declining. The US dollar index approached a three-month high before turning downward. Offshore renminbi fell below 7.22 to a three-week low during intraday trading before rebounding by over 100 points. Bitcoin surged over $2,000 during intraday trading, breaking through $50,000 for the first time in over two years. US oil extended its six-day winning streak, reaching a two-week high and the longest consecutive daily gain in five months, while Brent oil ended its five-day winning streak. Gold fell for the third consecutive day to a two-week low. The FTSE 100 rose over 3% to a six-month high, while London copper and zinc halted their three-day decline.