Federal Reserve Chairman Jerome Powell reiterated his cautiousness on rate cuts at Capitol Hill, leading to a broadly mixed performance in US stocks at close on Wednesday. The S&P 500 settled flat, unable to return to its historical high, ending at 6,092. The DJIA sank 106 points or 0.3% to 42,982. Only the Nasdaq outperformed, growing by 61 points or 0.3% to 19,973.
Chip makers continued to be favored, with Nvidia (NVDA.US) closing up 4.3%, touching a 52-week high and marking its highest closing price since January 6. Nvidia's market cap hit US$3.77 trillion, toppling Microsoft (MSFT.US) to become the world's largest company by market cap. AMD (AMD.US) soared 3.6%.
However, the US Department of Transportation requested Tesla (TSLA.US) to submit footage of errors from its autonomous taxis, making Tesla the worst performer among the "Magnificent Seven" on Wednesday, with its stock price sagging 3.8%. Alphabet, Google's parent company (GOOG.US), rallied 2.2%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10573 |
150 (-) |
0.315 |
4.9 X |
| Nvidia (P) |
10581 |
95 (-) |
0.026 |
5.5 X |
| AMD (C) |
10572 |
130 (-) |
0.480 |
3.3 X |
| TSLA (C) |
10688 |
420 (-) |
0.540 |
3.8 X |
| TSLA (C) |
10591 |
300 (-) |
0.900 |
3.8 X |
| TSLA (P) |
10692 |
280 (-) |
0.520 |
2.7 X |
| TSLA (P) |
10604 |
190 (-) |
0.073 |
4.5 X |
| ALPBE (C) |
10571 |
195 (-) |
0.090 |
9.1 X |
| ALPBE (P) |
10496 |
170 (-) |
0.051 |
22.1 X |
| MSFT (C) |
10557 |
515 (-) |
0.275 |
11.7 X |
