The market was watchful of changes in trade agreements and quarterly corporate earnings, leading to mixed developments in US stocks on Thursday.
The S&P 500 closed up by 4 points at 6,363; and the Nasdaq rose by 37 points or 0.2% to 21,057, both setting new closing highs. However, the DJIA concluded down by 316 points or 0.7% at 44,693, dented by plunges in IBM (IBM.US) and Tesla (TSLA.US).
Tesla's 2Q earnings missed forecast with automotive revenue down 16%, whereas Elon Musk warned of challenging times ahead in the coming quarters, resulting in an 8.2% slump in its stock price for the day.
IBM (IBM.US) logged a 20% upswing in earnings, topping expectations, but its software gross margin was slightly lower, leading to a 7.6% drop in its stock price.
Alphabet (GOOG.US) reported a 19% hike in 2Q earnings, beating expectations, and raised its full-year capex, with its stock price initially soaring nearly 4% before closing with a gain of 0.9%.
Major techs were in a mixed bag, with Nvidia (NVDA.US) and Amazon (AMZN.US) both adding 1.7%, and Apple (AAPL.US) dipping 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 |
| ALPBE (C) |
10571 |
195 (-) |
0.170 |
9.0 X |
| ALPBE (P) |
10716 |
153 (-) |
0.112 |
4.7 X |
| TSLA (C) |
10688 |
420 (-) |
0.280 |
4.9 X |
| TSLA (P) |
10692 |
280 (-) |
0.480 |
3.2 X |
| APPLE (C) |
10614 |
236 (-) |
0.084 |
11.7 X |
| APPLE (P) |
10678 |
170 (-) |
0.070 |
6.7 X |
| Nvidia (C) |
10721 |
175 (-) |
0.375 |
4.2 X |
| Nvidia (P) |
10714 |
125 (-) |
0.099 |
4.0 X |
| AMZN (C) |
10580 |
245 (-) |
0.176 |
8.9 X |
| AMZN (P) |
10700 |
180 (-) |
0.135 |
4.4 X |
