The market absorbed the Fed's decision to cut interest rates for the first time this year and plans for two more rate cuts within the year. Three major US stock indices opened higher and continued to rise, reaching new historical highs on Thursday.
Boosted by a significant investment from Nvidia (NVDA.US), Intel (INTC.US) rocketed over 20%. The Nasdaq closed up 209 points or 0.9% at 22,470, while the S&P 500 added 31 points or 0.5% to close at 6,631. The DJIA closed up 124 points or 0.3% at 46,142.
Intel snowballed as much as 30%, and leapfrogged 22.8% at close, after receiving a US$5 billion investment from Nvidia to jointly develop data center and PC chips. Nvidia also mounted 3.5%.
Other heavy-weighting techs weakened, with Tesla (TSLA.US) waning 2.1%. Apple (AAPL.US) dropped 0.5%, while Amazon.com (AMZN.US) ebbed 0.2%. Meta (META.US) ticked up 0.6%.
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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 (-) |
0.305 |
5.2 X |
| Nvidia (P) |
10714 |
125 (-) |
0.048 |
5.7 X |
| AMZN (C) |
10004 |
280 (-) |
0.222 |
5.7 X |
| AMZN (C) |
10580 |
245 (-) |
0.051 |
19.6 X |
| AMZN (P) |
10700 |
180 (-) |
0.098 |
5.5 X |
| APPLE (C) |
10758 |
243 (-) |
0.325 |
6.2 X |
| APPLE (C) |
10614 |
236 (-) |
0.115 |
18.3 X |
| APPLE (P) |
10793 |
210 (-) |
0.157 |
5.7 X |
| META (C) |
10003 |
900 (-) |
N/A |
5.3 X |
| META (C) |
10579 |
800 (-) |
0.223 |
20.4 X |
| META (P) |
10757 |
700 (-) |
0.850 |
4.1 X |
| TSLA (C) |
10010 |
530 (-) |
0.770 |
3.6 X |
| TSLA (C) |
10688 |
420 (-) |
0.740 |
5.0 X |
| TSLA (P) |
10011 |
370 (-) |
0.770 |
2.5 X |
| TSLA (P) |
10692 |
280 (-) |
0.073 |
6.3 X |
