Oil prices hiked to historical new highs, while Iran peace talks stalled and tensions in the Strait of Hormuz escalated again, leading to mixed performance in US equities on Monday.
The S&P 500 and Nasdaq opened lower but closed higher, both setting new closing highs. The S&P 500 ticked up only 8 points or 0.1% to close at 7,173, while the Nasdaq added 50 points or 0.2% to 24,887. The DJIA slid 62 points or 0.1% to 49,167.
It is reported that Qualcomm (QCOM.US) is partnering with OpenAI to develop AI smartphone chips, and is cooperating with MediaTek for production, with mass production expected in 2028. The stock hit its high for the day shortly after the market opened, hyping up 8% but closing up just 1%.
Although the Nasdaq closed lower, individual large-cap stocks posted notable gains. Nvidia (NVDA.US) leaped 4%, while Intel (INTC.US) mounted 3%. Alphabet (GOOG.US) jumped up nearly 2%.
Microsoft (MSFT.US) stabilized. The company will no longer pay revenue share to OpenAI, and its OpenAI license will now become non-exclusive.
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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) |
11136 |
450 (-) |
0.520 |
6.2 X |
| MSFT (P) |
11064 |
390 (-) |
0.380 |
5.2 X |
| Nvidia (C) |
11007 |
205 (-) |
0.345 |
6.3 X |
| Nvidia (P) |
11090 |
168 (-) |
0.188 |
3.5 X |
| ALPBE (C) |
10080 |
360 (-) |
0.315 |
8.3 X |
