PPI crushes interest rate expectations, US bonds plunge, US stocks retreat, AI "monster stocks" Supermicro plunges 20% from high, Chinese concept stocks win the market in the first week of the Year of the Dragon

The three major US stock indexes ended their five-week winning streak; the "Seven Sisters" of technology all fell, with Meta Platforms falling more than 2%, Apple falling for the fifth consecutive week, and Nvidia initially rising more than 2% before turning down; chip stocks fell for two consecutive days, with Arm falling 4% and Applied Materials rising more than 6% after its earnings report. Chinese concept stocks rose for three consecutive days, with a cumulative increase of more than 4% this week, outperforming the market for four days, with XPeng rising nearly 4% and Li Auto rising more than 3%. German and French stocks hit new all-time highs for consecutive days, and Novo Nordisk hit new highs for four consecutive days. After the release of the PPI, the two-year US Treasury yield rose more than 10 basis points, briefly surpassing 4.70%, marking the third day this week to reach a new high since the dovish stance of the December 2021 Federal Reserve meeting; the Invesco DB US DLR Index TR Bullish Fund jumped and hit a new daily high, but later gave up its gains, still posting weekly gains since the beginning of the year; gold quickly turned down and then rebounded, still falling for two consecutive weeks. Offshore renminbi rose more than 100 points intraday, breaking through 7.22 to a one-week high, starting the Year of the Dragon with a strong performance. Crude oil hit a three-month high, rising for two consecutive weeks; US natural gas halted its eight-week decline, bidding farewell to its multi-year lows, and falling 13% in a week. London copper rose more than 2% to a two-week high, with a nearly 4% increase for the whole week.