White House National Economic Council Director Kevin Hassett may be appointed as the next Federal Reserve Chairman, according to foreign reports. As he is an ally of US President Donald Trump, the market perceives an increased likelihood of a US rate cut, leading US stocks to rebound from early declines on Tuesday.

The S&P 500 finished up 60 points or 0.9% at 6,765. The DJIA rallied by as much as 734 points at one point, closing up 664 points or 1.4% at 47,112, marking its third consecutive day of gains. The Nasdaq, which had fallen by 1% in the morning, reversed its downtrend, ending up 153 points or 0.7% at 23,025.

Meta (META.US) is considering splurging billions of US dollars to purchase Alphabet's (GOOG.US) home-grown AI chips, The Information reported, citing sources. Spurred by this news, Alphabet and Meta rose 1.6% and 3.8%, respectively. As a leading AI chip company, Nvidia (NVDA.US) dived more than 7% at one point, with the slip easing to 2.6% by the close.

The decline in chip stocks eased slightly from earlier in the day, with AMD (AMD.US) diving 4% and Arm (ARM.US) dropping over 2%.

Major techs also rebounded with the broader market, with Tesla (TSLA.US) picking up 0.4%, Microsoft (MSFT.US) up 0.6%, and Apple (AAPL.US) up 0.4%.
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AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
META (C)	10003	900 (-)	0.190	7.7 X
ALPBE (C)	10080	360 (-)	0.540	4.5 X
ALPBE (P)	10012	230 (-)	0.144	4.4 X
Nvidia (C)	10055	230 (-)	0.149	5.7 X
Nvidia (C)	10721	175 (-)	0.250	6.8 X
Nvidia (P)	10057	165 (-)	0.237	3.7 X
AMD (C)	10760	225 (-)	0.610	3.2 X
AMD (P)	10777	155 (-)	0.211	2.8 X
TSLA (C)	10010	530 (-)	0.455	5.0 X
TSLA (P)	10011	370 (-)	0.480	3.7 X
MSFT (C)	10744	600 (-)	0.096	11.9 X
MSFT (P)	10715	435 (-)	0.229	7.7 X
APPLE (C)	10079	320 (-)	0.221	7.0 X
APPLE (P)	10793	210 (-)	0.046	8.2 X