Investors analyzed new economic data, including the US manufacturing PMI hitting a 15-month low in August. As the market is expecting the Fed to cut interest rates again, the DJIA and the S&P 500 extended last week's upswings, both hitting new closing highs on Monday.
The DJIA set a new high shortly after the market opened on Monday, peaking at 42,190. It ended the day up 61 points, or 0.2%, at 42,124, marking a new closing high. The S&P 500 closed up 16 points, or 0.3%, at 5,718, also achieving a new closing record. The Nasdaq closed 25 points, or 0.1%, higher at 17,974.
Micron (MU.US), which will announce its results this week, closed up about 3%. Intel (INTC.US) received a proposal from asset management company Apollo Global Management for an equity investment of up to US$5 billion. Its stock price closed soaring 3.3%, making it the second-best performer in the Nasdaq 100. Other chip stocks delivered positive performance. Arm (ARM.US) and ASML (ASML.US) grew 1-2%, while NVIDIA (NVDA.US) edged up 0.2%.
Tesla (TSLA.US) soared 5% throughout the day, the best performer in the Nasdaq 100. Meta (META.US) also reached a new high, but its gains later narrowed to 0.6%.
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AAStocks Financial News
Web Site: www.aastocks.com
SG Top Picks |
Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
Nvidia (C) |
10405 |
160 (-) |
0.170 |
4.2 X |
Nvidia (C) |
10319 |
150 (-) |
0.125 |
5.4 X |
Nvidia (C) |
10314 |
140 (-) |
0.131 |
5.9 X |
Nvidia (P) |
10299 |
120 (-) |
0.193 |
3.8 X |
Nvidia (P) |
10300 |
110 (-) |
0.208 |
2.8 X |
Nvidia (P) |
10315 |
100 (-) |
0.116 |
3.6 X |
TSLA (C) |
10344 |
370 (-) |
0.118 |
6.2 X |
TSLA (C) |
10305 |
280 (-) |
0.490 |
4.0 X |
TSLA (C) |
10306 |
250 (-) |
0.530 |
4.5 X |
TSLA (P) |
10342 |
160 (-) |
0.105 |
3.7 X |
META (C) |
10316 |
730 (-) |
0.137 |
9.9 X |
META (P) |
10317 |
365 (-) |
0.046 |
7.8 X |