The US New York stock market was strong in the European session as of today. The move follows Federal Reserve Chairman Jerome Powell's comments calling for more evidence on inflation movements. Chairman Powell said at a press conference this Wednesday that his "fundamental outlook" is not to cut interest rates as soon as March, despite signs that inflation in the U.S. is showing some signs of decline. Accordingly, the possibility of an interest rate cut has somewhat decreased in the market.

Amid the movement following Chairman Powell's remarks, major U.S. stock markets showed a downward trend. In particular, the bear market at a time when technology companies were about to announce their earnings added to the caution of stock investors. Furthermore, as large companies are scheduled to announce their performance after this meeting, an in-depth analysis of the economic situation related to inflation and interest rates is required.

U.S. stock futures rose in response to Powell's comments. As of 05:03 ET (10:03 GMT), Dow futures contracts were up 47 points, or 0.1%, S&P 500 futures were up 16 points, or 0.3%, and Nasdaq 100 futures were up 95 points, or 0.6%. This rise is interpreted as a reaction to the stock market decline in the previous session.

The main reason for the stock market decline was the decline in the stock prices of Microsoft and Google. Both companies reported slightly sluggish quarterly profits as they warned that the costs required to build artificial intelligence technology are increasing.

Separately, Meta Platform, owned by Amazon, Apple, and Facebook, is about to announce its earnings. In particular, the situation of AWS, Amazon's cloud computing division, is expected to receive attention, and Apple's iPhone sales and advertising revenue provided by Meta are also expected to be of interest.

In addition, Qualcomm's quarterly profits exceeded Wall Street's expectations, but its stock price fell in the market due to concerns that it was losing market share in China.

Tesla CEO Elon Musk said the company would move its corporate registration to Texas and hold a shareholder vote on the move after a Delaware judge invalidated the company's massive $56 billion compensation package.

“Do not register your company in Delaware (State),” Musk wrote on his social networking platform. Musk then announced that the decision would be made through a vote by shareholders on his platform, and that 87% of more than 1.1 million respondents preferred to register the company in Texas. Accordingly, Musk announced that Tesla would immediately ask investors to vote on board decisions.

Elsewhere, crude oil prices rose today awaiting the latest meeting of the OPEC+ oil group. U.S. crude oil futures rose 0.8% to $76.44, and Brant futures rose 0.7% to $81.12. OPEC+ is scheduled to hold its final meeting today, and no changes in production are expected to be possible. This overall movement can be understood as a reflection of the group's difficulties with changes in production prices that have existed for a long time.