Dow hits new high

    On Friday, U.S. stocks rose across the board, driven by positive news such as Biden's early signing of the stimulus bill, the improvement of the job market, and the availability of Treasury bond auctions. Value stocks outperformed growth stocks. As the 10-year Treasury bond rate remains high, although the Nasdaq rebounded sharply, it was still hovering around the 50-day moving average.

    The financial and industrial sectors were the strongest performers, with JPM and GS all ending high. BA and CAT pushed up the industrial sector, and investment agency 777 Partner signed a contract with Boeing to buy 24 737 Max with the right to buy an additional 60.

    Rising interest rates continue to suppress on the tech sector, with research firm NedDavis Research estimating that if the 10-year yield hits 2%, the Nasdaq 100 would drop additional 20%. But the market appeared to have some immunity to rising interest rates, with the Nasdaq opening lower and higher, closing in the upper mid-range.

    Next week, the market will focus on the Fed's interest rate policy meeting. In addition, retail sales, industrial production and housing-related data and the earnings of companies such as Nike and FedEx are also worthy to pay attention.