US stocks rose before waning. Both the DJIA and S&P 500 hit new highs on Wednesday. The DJIA busted above the peak to reach as high as 42,299 early on, but eventually closed down 293 points, or 0.7%, at 41,914, ending a four-day winning streak. The S&P 500 climbed to a new high of 5,741, but closed down 10 points, or 0.2%, at 5,722. The Nasdaq edged up 7 points, closing at 18,082.
Tech stocks continued to be the market's focal point. NVIDIA (NVDA.US) performed robustly, rallying 2.2% for the day. Barclays upgraded Hewlett Packard Enterprise (HPE.US)'s rating, citing the company's strong data center demand as the catalyst for its stock price. Hewlett Packard Enterprise surged 5%.
The energy sector spearheaded the decline due to falling US crude oil futures. Chevron (CVX.US) plunged more than 2%.
General Motors (GM.US) and Ford Motor (F.US) were downgraded by Morgan Stanley in light of increased competition from China and weakening US consumer demand. Their stock prices dived around 5% and 4%, respectively.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10405 |
160 (-) |
0.169 |
4.2 X |
| Nvidia (C) |
10319 |
150 (-) |
0.124 |
5.5 X |
| Nvidia (C) |
10314 |
140 (-) |
0.130 |
5.9 X |
| Nvidia (P) |
10299 |
120 (-) |
0.194 |
3.8 X |
| Nvidia (P) |
10300 |
110 (-) |
0.208 |
2.8 X |
| Nvidia (P) |
10315 |
100 (-) |
0.116 |
3.6 X |
| TSLA (C) |
10344 |
370 (-) |
0.118 |
6.2 X |
| TSLA (C) |
10305 |
280 (-) |
0.490 |
4.0 X |
| TSLA (C) |
10306 |
250 (-) |
0.530 |
4.5 X |
| TSLA (P) |
10342 |
160 (-) |
0.105 |
3.7 X |
