US President Donald Trump announced on Wednesday that a trade agreement was nailed with Vietnam, including a 20% tariff on goods imported from Vietnam to the US. Meanwhile, US June ADP private sector jobs shed 33,000 surprisingly, arousing concerns about the US economic situation.
US stocks were in a mixed bag on Wednesday. The S&P 500 Index closed up 29 points or 0.5%, reaching a record high of 6,227. The Dow Jones Industrial Average inched down 10 points, ending at 44,484. The Nasdaq Composite Index jumped up 190 points or 0.9%, finishing at a new high of 20,393.
Vietnam is a key production base for companies like Nike (NKE.US), GAP (GAP.US), and Lululemon (LULU.US), with Nike settling higher by 4%.
Tesla (TSLA.US) logged a 13.5% decline in deliveries last quarter, marking a decline for two straight quarters, yet its stock ended up 5%.
Microsoft (MSFT.US) will cut 9,000 jobs in the second round of large-scale layoffs, affecting less than 4% of its global workforce, with its stock slightly down 0.2%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TSLA (C) |
10688 |
420 (-) |
0.280 |
4.9 X |
| TSLA (P) |
10692 |
280 (-) |
0.480 |
3.2 X |
| MSFT (C) |
10744 |
600 (-) |
0.340 |
7.7 X |
| MSFT (C) |
10557 |
515 (-) |
0.305 |
13.5 X |
| MSFT (P) |
10715 |
435 (-) |
0.315 |
5.3 X |
