On Wednesday, the major stock indices experienced a rise, with the S&P 500 marking its highest closing level for two consecutive trading days. Alongside this positive trend, minutes from the Federal Reserve's latest monetary policy meeting suggested that officials are likely to remain on hold until there are clearer signs of progress in controlling inflation.

As the trading day concluded, the Dow Jones Industrial Average increased by 71.25 points, a rise of 0.16%, closing at 44,627.59. The Nasdaq rose by 14.99 points, climbing 0.07% to finish at 20,056.25, while the S&P 500 added 14.57 points, ending the day at 6,144.15. Among notable individual stocks, Intel saw a decline of 6%, whereas Tesla enjoyed a nearly 2% increase, and Palantir suffered a drop of 10%. The Nasdaq Golden Dragon Index, which monitors Chinese stocks listed in the U.S., fell by 0.38%, with Alibaba dropping close to 1% and JD.com rising by 0.7%.

Over in European markets, the DAX 30 in Germany took a significant hit, closing down 430.94 points, or 1.88%, at 22,432.31. The UK’s FTSE 100 index fell by 55.34 points, translating to a 0.63% decline, to end at 8,711.39. The French CAC 40 index also suffered, losing 96.02 points, down 1.17%, at 8,110.54. Additionally, the Euro Stoxx 50 index slid 74.50 points, a 1.35% drop, finishing at 5,459.85. The Spanish IBEX 35 index fell by 218.56 points, down 1.66%, concluding at 12,927.74, while the FTSE MIB in Italy dipped by 201.15 points or 0.52%, closing at 38,353.00.

In the Asia-Pacific region, the Nikkei 225 index in Japan experienced a slight decrease of 0.27%, while South Korea's KOSPI index enjoyed a solid increase of 1.7%. Conversely, the Indonesian Composite Index saw a dip of 1.14%.

Turning to commodities, the spot price of gold fell by 0.10%, settling at $2,933.06 per ounce, with the trading range for the day between $2,947.01 and $2,918.67. As of 6:06 PM Beijing time, gold had reached a historic high before briefly dropping to its daily low shortly before the release of the Federal Reserve meeting minutes at 3:00 AM. However, it rebounded soon after as discussions about the potential pause in quantitative tightening regained market attention. COMEX gold futures remained stable, closing at $2,949.00 per ounce, after almost touching the historical peak of $2,968.50 set on February 11 during trading.

In the oil market, light crude futures for March delivery on the New York Mercantile Exchange rose by 40 cents, or 0.56%, to settle at $72.25 per barrel. Meanwhile, April delivery Brent crude futures increased by 20 cents, to close at $76.04 per barrel, reflecting a gain of 0.26%.

The U.S. dollar also showed slight strength as measured by the Dollar Index against six major currencies, rising 0.11% to close at 107.173. At the close of the New York trading session, the euro was trading at 1.0425 dollars, down from the previous day's figure of 1.0445. The British pound was at 1.2584 dollars, marginally lower than the prior day's 1.2597. The dollar managed to buy 151.52 Japanese yen, down from 151.92 yen previously, while it gained against the Swiss franc at 0.9038, up from 0.9036. The Canadian dollar was at 1.4232 to the dollar, slightly higher than the previous day’s rate of 1.4188, while the Swedish krona saw a slight decline, trading at 10.7225 to the dollar against the previous day’s 10.7249.

In a broader economic context, the Federal Reserve's meeting minutes reveal that officials are keen to see further improvement in inflation before considering any rate cuts. The Fed held interest rates steady in the range of 4.25% to 4.5% during its last meeting, and market expectations lean towards no cut in rates at the upcoming March meeting either. According to the minutes, the council believes it has ample time to assess the evolving economic landscape, labor market conditions, and fluctuating inflation trends. Concerns has emerged among economists and market strategists that tariffs and stricter immigration policies may exacerbate inflationary pressures, potentially undermining the positive impacts of tax cuts and regulatory rollbacks. Despite inflation retreating from post-pandemic heights, it remains stubbornly high, with the latest Consumer Price Index reflecting a year-on-year rise of 3% in January, the fastest increase in seven months and above the Fed's 2% target.

Moreover, Atlanta Fed President Raphael Bostic on Wednesday remarked that the uncertainty surrounding U.S. policies, particularly regarding import tariffs and immigration enforcement, is undermining confidence in the economic outlook for the year. He stated, “I originally expected a very positive economic trajectory for 2025, with robust growth, inflation gravitating towards 2%, and a resilient labor market. However, potential changes now cast doubt on the reliability and precision of these predictions, leaving us to carefully monitor developments.”

In stock-specific news, Microsoft made headlines by unveiling the Majorana 1 quantum chip along with new generative AI tools. The Majorana 1 chip uses a novel topological core architecture that incorporates the world's first topological conductor, which is crucial for observing and controlling Majorana particles. Microsoft is optimistic that this breakthrough could enable the development of practical quantum computers by the end of this decade and give them an edge over competitors in this burgeoning field. With the new architecture, the Majorana 1 processor can accommodate a million quantum bits on a single chip, which is a significant leap towards creating a full-sized quantum computer. Additionally, Microsoft has introduced the Muse generative AI tool aimed at crafting video game scenes, leveraging data from Xbox gamers and their controllers.

In another significant release, Apple launched its latest budget-friendly model, the iPhone 16e, priced starting at $599. This price point comes in higher than the predictions from analysts, as UBS and Evercore ISI had anticipated an entry price closer to $500. The 16e's cost exceeds that of its predecessor, the SE model, which started at $429. One reason for this heightened price is the integration of Apple’s AI software, Apple Intelligence, powered by the new A18 chip, expected to bolster global sales of the 16e. The company has previously stated that the market performance following the launch of Apple Intelligence would surpass earlier iterations, indicating a shift to more significant upgrade expenditures than Wall Street expected initially.

Meanwhile, UnitedHealth has offered a “buyout” option to select employees in its benefits operations department, contingent upon their resignation by March 3. As per insider accounts, employees who do not opt for this offer will either continue in their current roles or transition to equivalent positions. If the company does not meet the separation quota through buyouts, layoffs may ensue.

In a dramatic turn of events, Nikola, once a darling of the electric vehicle industry, has filed for bankruptcy after struggling with poor sales and a series of executive changes resulting from a fraud scandal. The company announced its intention to enter Chapter 11 bankruptcy proceedings in Delaware, planning to liquidate its assets. Court documents reveal the company's listed assets worth between $500 million to $1 billion, coupled with liabilities ranging from $1 billion to $10 billion. This development highlights the financial turmoil faced by the electric and hydrogen-powered truck manufacturer, characterized by declining cash reserves, faltering sales, and plummeting stock prices. Earlier reports indicated that Nikola was considering bankruptcy, admitting they were desperately attempting to raise capital.