The S&P 500, hijacked by the broad decline in techs, fell for the fourth consecutive day, whereas the Nasdaq also recorded its second consecutive day of slump. The S&P 500 closed down 15 points or 0.2% at 6,395. The Nasdaq dropped 142 points or 0.7% to 21,172, being the worst among the three major US stock indices. Investors weighed the mixed earnings results of large retailers, with the DJIA being the only index to rise, closing slightly up 16 points at 44,938.
US market bellwether NVIDIA (NVDA.US) picked up to almost flat after an early slip of over 3%. Elon Musk stated that Tesla's (TSLA.US) six-seater Model YL may never be produced in the US, and the stock sank 1.6%.
The Trump administration is considering joining stakes in chip manufacturers which receive funding under the Chip Act, prompting chip stocks to subside. Intel (INTC.US) fell off 7%, while AMD (AMD.US) and Broadcom (AVGO.US) both dipped about 1%.
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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) |
10721 |
175 (-) |
0.330 |
4.6 X |
| Nvidia (P) |
10714 |
125 (-) |
0.081 |
4.5 X |
| TSLA (C) |
10688 |
420 (-) |
0.211 |
6.1 X |
| TSLA (P) |
10692 |
280 (-) |
0.325 |
4.2 X |
| AMD (C) |
10760 |
225 (-) |
0.260 |
3.7 X |
| AMD (P) |
10777 |
155 (-) |
0.410 |
2.1 X |
