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S&P 500 Hits New Closing High given US-Vietnam Trade Deal; Tesla Ends Up 5%
03 Jul 2025 04:02
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 (-) 0.420 4.1 X
TSLA (C) 10591 300 (-) 0.700 4.3 X
TSLA (P) 10692 280 (-) 0.560 2.7 X
MSFT (C) 10557 515 (-) 0.270 12.1 X
MSFT (P) 10715 435 (-) 0.395 4.8 X

 

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