The US stock market was on a bumpy ride on Thursday, as the market eyed the quarterly results of major techs. The DJIA ended up 55 points or 0.1% at 49,071. The Nasdaq, initially dented by a plunge in Microsoft (MSFT.US) and software stocks, slumped by as much as 624 points or 2.6% before narrowing its loss to close down 172 points or 0.7% at 23,685. The S&P 500 dipped 9 points or 0.1% to 6,969.
Microsoft's 2FQ profit grew 60%, but its cloud services revenue fell short of expectations, leading to a 10% collapse in its stock price, marking the steepest single-day decline since March 2020. Meta (META.US)'s revenue forecasts beat, with its stock price surging by 10.4%.
Tesla (TSLA.US) reported a 61% drop in 4Q net profit, still beating expectations, although its full-year revenue shrank for the first time on record. Tesla's stock initially soared 2% before giving up gains to close down 3.5%. Apple (AAPL.US), which is set to release its quarterly results after the market close, rose by 0.7%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| MSFT (C) |
11006 |
550 (-) |
0.117 |
9.8 X |
| MSFT (P) |
10715 |
435 (-) |
0.340 |
9.5 X |
| META (C) |
10003 |
900 (-) |
0.144 |
11.4 X |
| META (P) |
10757 |
700 (-) |
0.640 |
6.7 X |
| TSLA (C) |
11036 |
590 (-) |
0.305 |
5.5 X |
| TSLA (C) |
10010 |
530 (-) |
0.083 |
11.4 X |
| TSLA (P) |
11037 |
435 (-) |
0.970 |
2.9 X |
| TSLA (P) |
10011 |
370 (-) |
0.164 |
8.2 X |
| APPLE (C) |
10079 |
320 (-) |
0.067 |
10.6 X |
| APPLE (P) |
10793 |
210 (-) |
0.022 |
13.5 X |
