Strong US economic data confirmed a 3% GDP growth in 2Q, and core PCE price growth was also confirmed to have slowed to 2.8%. The three major US stock indexes performed well on Thursday, with the S&P 500 hitting a new closing high, while the Nasdaq's gains narrowed to less than 1%.
The S&P 500 closed up 23 points, or 0.4%, at 5,745. The DJIA closed 260 points, or 0.6%, higher at 42,175. The Nasdaq hiked 108 points, or 0.6%, to close at 18,190.
Benefiting from AI demand, Micron (MU.US)'s last FQ earnings exceeded expectations. Its stock price surged 14.7% throughout the day. Other chip stocks also delivered encouraging performance. NVIDIA (NVDA.US) narrowed its gains to 0.4%. AMD (AMD.US) swelled 3.4%. Intel (INTC.US) and Broadcom (QCOM.US) climbed 1-2%.
Super Micro Computer (SMCI.US) plunged 12.2% amid reports that the US Department of Justice launched an investigation into the company.
Heavyweight stocks showed varying trends. Tesla (TSLA.US) dropped 1.1%. Microsoft (MSFT.US) edged down 0.2%. Apple (AAPL.US) inched up 0.5%.
Chinese concept stocks gained traction. Alibaba (BABA.US) rocketed 10%. JD.com (JD.US) surged 14.4%. XPeng (XPEV.US) also escalated 11.9%.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| JDCOM (C) |
25375 |
175 (-) |
0.175 |
4.0 X |
| JDCOM (Bull) |
50420 |
102.2 (105) |
0.495 |
3.1 X |
| JDCOM (Bear) |
59089 |
164.8 (162) |
0.025 |
12.1 X |
| XPENG (Bear) |
66607 |
51.5 (50) |
0.051 |
9.1 X |
| ALIBA (C) |
25889 |
100.1 (-) |
0.300 |
4.3 X |
| ALIBA (C) |
25433 |
99 (-) |
0.270 |
4.7 X |
| ALIBA (Bull) |
50950 |
86.5 (88) |
0.171 |
6.0 X |
| ALIBA (Bull) |
50513 |
83.3 (84.8) |
0.203 |
5.0 X |
| ALIBA (Bear) |
50954 |
109.5 (108) |
0.064 |
16.0 X |
| 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 |
| AMD (C) |
10326 |
205 (-) |
0.133 |
6.1 X |
| AMD (P) |
10325 |
135 (-) |
0.104 |
4.8 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 |
| APPLE (C) |
10321 |
262 (-) |
0.137 |
8.1 X |
| APPLE (C) |
10322 |
238 (-) |
0.161 |
9.8 X |
| APPLE (P) |
10410 |
193 (-) |
0.131 |
5.7 X |
| APPLE (P) |
10320 |
186 (-) |
0.037 |
10.2 X |
| MSFT (C) |
10309 |
576 (-) |
0.020 |
16.2 X |
| MSFT (C) |
10367 |
500 (-) |
0.270 |
7.8 X |
| MSFT (P) |
10308 |
370 (-) |
0.105 |
9.9 X |
| MSFT (P) |
10421 |
344 (-) |
0.175 |
6.1 X |
