Global News | U.S. stocks fluctuate, federal court denies request to delay tariff refund lawsuit

【U.S. Stock Indices】

On March 2nd, Eastern Time (Monday), the three major U.S. stock indices moved mixed. The S&P 500 rose 0.04% to 6,881.62; the Dow Jones fell 0.15% to 48,904.78; the Nasdaq increased 0.36% to 22,748.86.

【U.S. Bonds】

On March 2nd, the benchmark 10-year U.S. Treasury yield was 4.05%, and the 2-year Treasury yield, most sensitive to Federal Reserve policy rates, was 3.47%.

【Popular U.S. Stocks】

Among popular stocks, Nvidia rose 2.93%, Apple increased 0.20%, Google A fell 1.68%, Google C dropped 1.63%, Microsoft gained 1.48%, Amazon declined 0.77%, TSMC fell 1.42%, Meta rose 0.83%, Tesla increased 0.20%, Super Micro Semiconductor dropped 0.79%, Intel fell 0.24%.

【Global Indices】

【Chinese Indices】

On March 2nd, overnight Hang Seng Tech Index futures fell 3.42%, Nasdaq China Golden Dragon Index declined 1.08%, FTSE China A50 Index rose 0.84%.

【Chinese Concept Stocks】

Popular Chinese concept stocks include Tencent Holdings (HK), down 0.77%; Alibaba, down 1.09%; Pinduoduo, down 0.88%; NetEase, up 0.19%; Baidu, down 0.71%; Ctrip, down 2.17%; Li Auto, down 0.11%; Xpeng Motors, down 3.22%; NIO, down 3.18%.

【Forex and Commodities】

【Global News】

Federal Appeals Court Rejects U.S. Government’s Request to Delay Tariff Refund Litigation, Reinitiates Legal Proceedings

After the U.S. Supreme Court rejected former President Trump’s landmark economic policies, the Federal Circuit Court of Appeals dismissed the U.S. government’s request to delay the next steps in the importers’ tariff refund dispute. The court ordered the immediate restart of relevant legal proceedings and sent the case back to the U.S. International Trade Court. The court rejected the government’s request to extend the case suspension for up to four months. A group of small businesses involved in the lawsuit urged the Federal Circuit Court to end the trial phase promptly to expedite tariff refund claims. (Sina Finance)

Nvidia-backed “Open” AI Startup Reflection AI Seeks Investment at Over $20 Billion Valuation

Supported by Nvidia, the “open” artificial intelligence startup Reflection AI is seeking investors with a valuation exceeding $20 billion.

Apple Discusses New Siri Hosted by Google

According to two sources familiar with the negotiations, at Apple’s request, Google has studied deploying servers within its data centers to run the upcoming version of Siri. Powered by Gemini, this digital assistant will also meet Apple’s privacy standards. Apple currently relies on Google Cloud for online storage and internal AI model training services. Former Apple executives and engineers say these cloud-related efforts have faced repeated setbacks because Apple’s finance executives view cloud computing as a costly nuisance rather than a strategic priority. They indicate that Apple is reluctant to heavily invest in its own infrastructure, leading to ongoing departures of cloud experts. Former employees reveal that the average utilization rate of Apple’s private cloud is only 10%, with some servers still stored in warehouses and unused. However, if Apple’s new Siri, launching this year, proves popular, its AI computing power demand could surge rapidly, which may explain why Apple is negotiating with Google for hosting assistance.

Apple Launches iPhone 17E

Apple’s China website lists the new iPhone 17E starting at 4,499 RMB.

Nvidia to Invest $2 Billion in Coherent

Nvidia will invest $2 billion in Coherent.

Nvidia Announces Collaboration with Lumentum

Nvidia announces a partnership with Lumentum, with Nvidia investing $2 billion in Lumentum.

U.S. Military Aircraft Withdraws from Spain After Government Says Base Cannot Be Used for Attacks on Iran

After the U.S. government stated that the Spanish military base cannot be used for attacks on Iran, U.S. military aircraft have withdrawn from Spain.

Xiaomi’s Lu Weibing: Has the Courage to Challenge Apple at Higher Price Points

The MWC 2026 Mobile World Congress is underway. Xiaomi Group Vice President, President, and Head of Mobile, Lu Weibing, spoke with Sina Tech and other media. He said that overseas, Xiaomi considers $600 or €600 as the starting point for high-end products. In recent years, Xiaomi’s digital series has maintained a stable presence in the €600-€800 price range. This time, the overseas starting price for Xiaomi 17 is €999, Xiaomi 17 Ultra is €1499, and Leitz Phone is €1999, forming three tiers. He pointed out that after establishing a foothold in the €600-€800 range, Xiaomi is now targeting the €1,000+ market abroad, with the Leitz Phone reaching €2,000, surpassing the overseas price of the iPhone 17 Pro Max 1TB. “This shows that Xiaomi now has the courage and confidence to challenge the iPhone at higher price levels.” (Sina Tech)

Alibaba’s Large Model Brand for B2B and C2C to Merge as “Qianwen”

Alibaba’s large model brand for B2B and C2C applications will unify under the name “Qianwen.” (Alibaba Cloud)

Alibaba’s Holdings of Lankou Technology H-shares Drop to 6.91%