<h3>Market Review</h3>
<p>Last Friday, the S&amp;P 500 rose by 1.59%, with a cumulative decline of 0.98% for the week and a cumulative decline of 1.42% for February. The Dow Jones increased by 1.39%, with a cumulative rise of 0.95% for the week and a cumulative decline of 1.58% for February. The Nasdaq rose by 1.63%, with a cumulative decline of 3.47% for the week and a cumulative decline of 3.95% for February, marking the worst performance in ten months.</p>
<p>Nvidia rebounded nearly 4% on Friday but still fell over 7% for the week, while Tesla dropped 13% for the week. The China concept index fell for two consecutive days but is still up nearly 9% in February. Alibaba closed down 3%, but surged 34% in February.</p>
<h3>Key Focus This Week</h3>
<p>The 14th National Committee of the Chinese People's Political Consultative Conference and the 14th National People's Congress will be held in Beijing on March 4 and 5, respectively. Trump will deliver a speech to the U.S. Congress and host a White House cryptocurrency summit, along with the implementation of tariffs on Canada and Mexico.</p>
<p>In terms of economic data, this week will see the release of: U.S. February non-farm payrolls, China’s February CPI, Caixin PMI, import and export data, the European Central Bank's interest rate decision, as well as speeches from Powell and other Federal Reserve officials, and the Federal Reserve's Beige Book on economic conditions.</p>
<p>In terms of new stocks, Mixue Ice Cream will be listed on the Hong Kong Stock Exchange today.</p>
<h3>U.S. Secretary of Commerce: Tariffs on Canada and Mexico to be imposed on March 4, level to be decided by Trump</h3>
<p>On March 2 local time, U.S. Secretary of Commerce Gina Raimondo stated that the U.S. will impose tariffs on Canada and Mexico on March 4. The tariff level may be below 25%, and U.S. President Trump will finalize the tariff level.</p>
<h3>U.S. Stocks Fear This Week's Thunder: Trump to Address Joint Session of Congress on March 4</h3>
<p>This will be his first major speech in his second term. Media expect Trump to outline key legislative goals and set the tone for his second term, potentially involving economic, national security, and foreign policy issues.</p>
<p>Additionally, the White House will host its first cryptocurrency summit on March 7, where Trump will also deliver a speech.</p>
<h3>Musk: Tesla Expected to Achieve 1000% Profit Growth in the Next 5 Years</h3>
<p>Musk stated on X that this requires excellent execution, but he believes that achieving a 1000% profit growth for Tesla in five years is possible. The day before, he also replied to a post pessimistic about Tesla, stating, &#34;Tesla's long-term returns are very high.&#34;</p>
<h3>Xiaomi Cars Completes Annual Task Ahead of Schedule</h3>
<p>Xiaomi's SU7 Ultra has surpassed 10,000 orders, completing its annual task ahead of schedule. Lei Jun mentioned that he did not expect to sell 10,000 units in just three days and is unsure how many units can ultimately be sold.</p>
<h3>New Car Makers' February Good News: XPeng Tops Again</h3>
<p>According to the good news released by new car makers on March 1, among the sales in February, the most outstanding among Weilai, Xiaopeng, and Li Auto is XPeng, which has sold over 30,000 units for four consecutive months and has surpassed Li Auto for two consecutive months to become the sales champion among new car makers. With the support of two relatively affordable new cars, MONA M03 and P7+, especially MONA M03, which precisely targets the market rhythm of 100,000-150,000 yuan, the monthly sales of both models exceeded 30,000 units, gaining significant momentum</p>
<h3>The U.S. Core PCE Price Index Rose 2.6% Year-on-Year in January, In Line with Expectations, but Personal Consumption Expenditure is Weak</h3>
<p>The PCE price index, the inflation indicator favored by the Federal Reserve, rose moderately in January, alleviating some concerns about inflation. However, consumer spending has declined, and if the slowdown in service spending continues, it may exacerbate worries about the U.S. consumption outlook</p>

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<p>This week's key focus: The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the 14th National People's Congress (NPC) will be held in Beijing on March 4 and 5, respectively; Trump will deliver a speech in the U.S. Congress, host a White House cryptocurrency summit, and implement tariffs on Mexico. The U.S. February non-farm payrolls and China's February CPI will be released</p>

- The S&P 500 rose 1.59% on Friday but fell 0.98% for the week, while the Dow Jones and Nasdaq also showed mixed results.  
- Key upcoming events include the Chinese National People's Congress meetings and a speech by Trump in Congress, which may outline his legislative goals.  
- Economic data to be released this week includes U.S. non-farm payrolls and China's CPI, while Musk predicts Tesla could achieve 1000% profit growth in five years.

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Breakfast | Musk claims Tesla will "increase 10 times in 5 years," Mixue Ice City goes public today