The market kept eyes on the Fed's announcement of the outcome of its first monetary policy meeting of the year on Wednesday, while awaiting earnings release of tech stocks. US bourse displayed mixed trends on Tuesday. The DJIA slid 408 points or 0.8% to close at 49,003, dented by a nearly 20% plunge in the share price of UnitedHealth (UNH.US). In contrast, the Nasdaq leaped 215 points or 0.9% to 23,817. The S&P 500 also gained 28 points or 0.4% to 6,978, reaching a new high.
The US proposed to increase the payment level for the Medicare Advantage Plan by a net average of only 0.09% next year, leading to a deep dive in health insurance stocks on Tuesday. Humana (HUM.US) collapsed 21%, and CVS Health (CVS.US) slipped 14%.
Large techs elevated broadly, with Apple (AAPL.US) and Microsoft (MSFT.US) up by 1% and 2%, respectively. This week, Meta (META.US), Microsoft, and Tesla (TSLA.US) are set to release their earnings on Wednesday, while Apple will announce its results on Thursday.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| APPLE (C) |
10079 |
320 (-) |
0.070 |
10.5 X |
| APPLE (P) |
10793 |
210 (-) |
0.021 |
13.7 X |
| MSFT (C) |
11006 |
550 (-) |
0.300 |
8.2 X |
| MSFT (P) |
10715 |
435 (-) |
0.113 |
12.7 X |
| META (C) |
10003 |
900 (-) |
0.101 |
10.9 X |
| META (P) |
10757 |
700 (-) |
1.000 |
5.5 X |
| TSLA (C) |
11036 |
590 (-) |
0.365 |
5.2 X |
| TSLA (C) |
10010 |
530 (-) |
0.134 |
9.7 X |
| TSLA (P) |
11037 |
435 (-) |
0.950 |
2.9 X |
| TSLA (P) |
10011 |
370 (-) |
0.164 |
7.8 X |
