The Federal Reserve's plan to cut interest rates this year was questioned, as the US producer prices grew 0.2% MoM last December, which missed forecast, and the market was watchful of another inflation data this week.
Big techs plunged on Tuesday, weighing down on the Nasdaq which was again squeezed to rebound unsuccessfully. It rested at 19,044, down 43 points or 0.2%. The S&P 500 closed 6 points, or 0.1%, higher at 5,842. The DJIA surged 221 points, or 0.5%, to 42,518, since investors rotated to traditional stocks.
Investors flocked to utilities, financials and materials, all of which ascended more than 1%. Goldman Sachs (GS.US) and JP Morgan (JPM.US), which reported results this week, each hiked more than 1%.
Techs were dumped, with Nvidia (NVDA.US) down 1% and Meta (META.US) down more than 2%. Tesla (TSLA.US) closed down nearly 2% after reversing its early gains.
~
AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10447 |
175 (-) |
0.122 |
6.0 X |
| Nvidia (C) |
10537 |
165 (-) |
0.250 |
4.1 X |
| Nvidia (C) |
10405 |
160 (-) |
0.130 |
6.6 X |
| Nvidia (P) |
10448 |
123 (-) |
0.120 |
4.5 X |
| Nvidia (P) |
10538 |
116 (-) |
0.159 |
3.2 X |
| Nvidia (P) |
10300 |
110 (-) |
0.037 |
7.1 X |
| TSLA (C) |
10493 |
620 (-) |
0.440 |
4.3 X |
| TSLA (C) |
10469 |
440 (-) |
1.140 |
3.3 X |
| TSLA (P) |
10494 |
320 (-) |
0.400 |
3.1 X |
| TSLA (P) |
10468 |
250 (-) |
0.142 |
3.8 X |
| META (C) |
10440 |
700 (-) |
0.570 |
6.5 X |
| META (P) |
10436 |
480 (-) |
0.138 |
7.7 X |
