A White House official revealed to US media that US President Donald Trump was about to fire Federal Reserve Chairman Jerome Powell, sending immense shockwaves to the US bourse at one point. However, two hours later, Trump negated the report, and the three major US stock indices eventually ascended.
The S&P 500 finished up 19 points or 0.3%, at 6,263; the DJIA rebounded, closing up 231 points or 0.5%, at 44,254; and the Nasdaq set a new closing high, ending up 52 points or 0.3%, at 20,730.
Tesla (TSLA.US) announced on Wednesday night that it will launch a six-seater Model YL in China this fall, with no pricing yet. The stock soared 3.5%. Nvidia (NVDA.US) leaped on Tuesday due to US approval to sell new chips to China, eventually inching up 0.4%.
Major banks reported quarterly results for the second consecutive day, but the market was not quite satisfied. Correspondingly, bank stocks fared weakly. Morgan Stanley (MS.US) and Bank of America (BAC.US) both fell, while Goldman Sachs (GS.US) reported a 22% increase in 2Q earnings, beating expectations, and the stock climbed nearly 1%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TSLA (C) |
10688 |
420 (-) |
0.405 |
4.4 X |
| TSLA (P) |
10692 |
280 (-) |
0.455 |
3.1 X |
| TSLA (P) |
10604 |
190 (-) |
0.038 |
6.0 X |
| Nvidia (C) |
10721 |
175 (-) |
0.385 |
4.1 X |
| Nvidia (P) |
10714 |
125 (-) |
0.108 |
3.8 X |
