Domestic News: 1. The net asset value of the Guotou Silver LOF fund fell 31.5% in a single day due to a revaluation of fund assets. 2. Shanghai's pilot program for acquiring second-hand homes for rental housing support has been substantially launched. 3. The Ministry of Finance issued an announcement regarding matters related to the deduction of input VAT. 4. Nine departments, including the Ministry of Commerce, issued the "2026 'Happy Shopping Spring Festival' Special Activity Plan". 5. Ten departments jointly released the "Guidelines for the Construction of a Low-Altitude Economic Standard System (2025 Edition)". 6. The CPC Central Committee and the State Council approved the "Spatial Coordination Plan for the Modernized Capital Metropolitan Area (2023-2035)". 7. Li Qiang conducted research in Shandong, emphasizing the need to continuously increase R&D investment and enhance the supply of high-quality products based on the development needs of relevant industries. International News: 1. South Korean stocks triggered a circuit breaker after a sharp drop. 2. SpaceX confirmed its merger with xAI. 3. The EU is considering banning imports of Russian copper, platinum, and other metals. 4. The French National Assembly formally passed the 2026 budget. 5. Trump: The investigation into Federal Reserve Chairman Powell should continue. 6. ISM data shows that US manufacturing has returned to expansion territory after a year. 7. Trump plans to establish a $12 billion strategic reserve of key minerals, called the "Treasury Plan." 8. Due to the partial government shutdown, the US Bureau of Labor Statistics postponed the employment report originally scheduled for Friday. 9. Federal Reserve's Bostic: The economy is resilient, but inflation remains high; no interest rate cut is expected in 2026. 10. It is reported that the Iranian president has ordered the start of special negotiations with the United States on the nuclear issue; the US special envoy and the Iranian foreign minister will meet in Turkey on the 6th. 11. Overnight market activity—precious metals continued to fall sharply, with spot gold and silver experiencing daily fluctuations of $480 and $16.6 respectively; international oil prices fell by more than 5%; US stocks opened lower but rallied, with the Dow Jones Industrial Average rising 1%; the US dollar rose 0.6%; and the 2-year US Treasury yield fell by about 4 basis points. 12. Trump: A trade agreement has been reached with India, reducing retaliatory tariffs from 25% to 18%; India will lower trade barriers and purchase over $500 billion worth of US products; India will stop buying Russian oil and buy US oil, and may also buy Venezuelan oil. White House: The 25% tariff imposed on India for purchasing Russian oil has been lifted.

According to the New York Times, Trump has dropped his demand for $200 million from Harvard University.

Russian Presidential Special Representative Dmitriev: The United States has little time left to accept the extension of the New Strategic Arms Reduction Treaty.

The California state government has announced a proposed $200 million electric vehicle incentive program that will be available only to first-time car buyers and will require participating automakers to provide matching funds.

Market news: Waymo, the self-driving car company under Alphabet (GOOG.O), has raised $16 billion, bringing its post-money valuation to $126 billion.

US President Trump: Cuba is a failed country, they don't get any money from Venezuela.