The Federal Reserve maintained interest rates unchanged, stating that US economic activity expanded stably and unemployment rate showed signs of stabilization. US bourse closed steady on Wednesday. The S&P 500 briefly hit a record high soon after the opening bell, crossing the 7,000-point mark for the first time, reaching a peak of 7,002. However, it closed slightly down by less than 1 point at 6,978. The Nasdaq added 40 points or 0.2% to 23,857. The DJIA held steady, slightly up by 12 points to 49,015.

NVIDIA (NVDA.US) may purportedly shift chip production to Intel (INTC.US). Intel rallied 11% at close, whereas NVIDIA rose 1.6%. Amazon (AMZN.US) confirmed the layoff of 16,000 employees and did not rule out further layoffs, with the stock initially growing but eventually closing down 0.7%.

Regarding earnings stocks, ASML (ASML.US) announced record-high orders, with its stock reaching a 52-week high before ebbing 2%. Storage infrastructure company Seagate (STX.US) reported second-quarter earnings and revenue beat, driven by strong AI data storage demand, which spurred a 19% surge in its stock price, making it the best performer among Nasdaq constituents.
~



AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
AMZN (C)	10004	280 (-)	0.091	10.3 X
AMZN (P)	10700	180 (-)	0.016	11.4 X
Nvidia (C)	10055	230 (-)	0.084	8.7 X
Nvidia (C)	11007	205 (-)	0.320	4.7 X
Nvidia (P)	10057	165 (-)	0.113	6.0 X
APPLE (C)	10079	320 (-)	0.067	10.5 X
APPLE (P)	10793	210 (-)	0.021	13.9 X