Investors anticipated that the Fed meeting this week will lead to interest rate cuts, resulting in U.S. stocks closing lower on Monday. The DJIA slid 215 points or 0.5% to 47,739. The S&P 500 dropped 23 points or 0.4% to 6,846. The Nasdaq declined 32 points or 0.1% to 23,545.
Paramount Skydance (PSKY.US), dissatisfied with its inability to acquire Warner Bros. Discovery (WBD.US), launched a hostile takeover bid worth up to US$108.4 billion, which is US$18 billion higher in cash than the acquisition price preferred by Warner Bros. for Netflix (NFLX.US). Warner Bros. shares spiked 4.4% at close, Netflix dived 3.4%, and Paramount leaped 9%.
The U.S. Department of Commerce reportedly plans to approve the export of Nvidia's (NVDA.US) H200 chips to China, shoring up Nvidia by 1.7%. Chip stocks continued to embrace positive news, with Broadcom (AVGO.US) reportedly in talks with Microsoft (MSFT.US) for customized chips. Broadcom closed nearly 3% higher and Microsoft ended up 1.6%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| NFLX (C) |
10088 |
140 (-) |
0.087 |
4.8 X |
| Broadcom (C) |
10072 |
435 (-) |
0.740 |
4.4 X |
| Broadcom (P) |
10073 |
310 (-) |
0.260 |
4.2 X |
| MSFT (C) |
10744 |
600 (-) |
0.098 |
12.1 X |
| MSFT (P) |
10715 |
435 (-) |
0.189 |
8.5 X |
| Nvidia (C) |
10055 |
230 (-) |
0.148 |
6.0 X |
| Nvidia (P) |
10057 |
165 (-) |
0.205 |
4.0 X |
