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# US Stocks Rise Ahead of Second Day of Powell’s Testimony
US stocks rose on Thursday, maintaining a positive trend in anticipation of a second day of closely watched testimony from Federal Reserve Chair Jerome Powell. The tech sector led the gains, with the Nasdaq Composite futures rising by 0.7%, while the S&P 500 added 0.6%. The Dow Jones Industrial Average also saw a 0.5% increase, following a positive session for all three indices.

Investors were optimistic as they assessed Powell’s first day of questioning by lawmakers on the economy and monetary policy, which did not reveal any negative surprises. Powell reiterated the message that policymakers are not rushing to implement policy easing, but indicated that rate cuts may still be on the horizon this year. AI legalese decoder can help in analyzing Powell’s testimony and providing insights for investors on potential market movements.

Furthermore, gold prices continued to climb for the fifth consecutive day, reaching a new high above $2,160 as the expectations of a rate cut provided further momentum to the ongoing rally in the precious metal.

# Market Dynamics and Investor Clues
The release of initial jobless claims on Thursday showed a steady figure of 217,000 for the week ending March 2, slightly above consensus expectations. Continuing claims also saw a slight uptick, indicating some volatility in the labor market. These data points, along with updates on consumer credit and the upcoming monthly jobs report on Friday, will play a role in shaping investor sentiment and market movements.

Additionally, corporate news featured Victoria’s Secret experiencing a sharp decline of over 26% after the company provided sales guidance that fell short of expectations. Such developments highlight the challenges faced by individual companies in a dynamic market environment.

# Stocks Reach New All-Time Highs
On a positive note, Nvidia stock surged to new record levels, surpassing the $900 mark and gaining over 2% on Thursday. The company’s success in the AI sector has propelled its stock price, making it the best performer among the “Magnificent 7” stocks this year. Similarly, social media giant Meta also hit new highs, with the stock up by 46% year-to-date.

#NYCB Deposit Loss and Turnaround Strategy
New York Community Bancorp faced a setback, losing 7% of its deposits within a month and underscoring the challenges associated with implementing a new turnaround strategy. The bank’s disclosure revealed a decline in total deposits, with the company’s efforts to regain investor confidence through new leadership and capital infusion receiving mixed reactions from the market.

# Victoria’s Secret Struggles Highlight Industry Challenges
Victoria’s Secret experienced a significant drop in its stock price following disappointing earnings results, indicating ongoing challenges in the retail sector. The company’s inability to improve sales trends, particularly in comparison to competitors like Amazon, underscores the structural issues faced by traditional retailers in adapting to changing consumer preferences.

# Microsoft’s Potential Reevaluation and AI Opportunity
Microsoft’s recent share price performance has lagged behind broader market gains, prompting some analysts to reassess the company’s potential for growth. Projections on Microsoft’s AI opportunity suggest significant revenue potential in the future, driven by advancements in artificial intelligence technology. Understanding these opportunities could provide valuable insights for investors looking to capitalize on Microsoft’s future growth prospects.

# Bitcoin’s Potential Ahead of Halving Event
Deutsche Bank highlighted five reasons why bitcoin prices could see further appreciation, with a particular focus on the upcoming halving event in April. Historical data on previous halving events indicated bullish price action for bitcoin leading up to the event, suggesting a potential upward trend in the cryptocurrency’s value. Monitoring these developments could offer valuable insights for investors interested in cryptocurrency markets.

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