The number of initial jobless claims in the second week of August in the US was way more than expectations, drawing market attention to Federal Reserve Chairman Jerome Powell's speech on Friday. US stocks continued to weaken on Thursday.
The DJIA slid by as much as 359 points, ultimately closing down 152 points or 0.3% at 44,785. The S&P 500 fell 25 points or 0.4%, closing at 6,370, marking its fifth consecutive day of decline. The Nasdaq closed down 72 points or 0.3% at 21,100.
Among DJIA constituents, Walmart (WMT.US) logged lower-than-expected earnings for 2FQ, with tariff costs continuing to rise, leading to a 4.5% slump in its stock price.
Heavyweight techs softened, with Tesla (TSLA.US) and Meta (META.US) both down over 1%; Amazon (AMZN.US), Apple (AAPL.US), and Nvidia (NVDA.US) down less than 1%.
Some Chinese ADRs escalated, with NIO (NIO.US) up 9.3% and XPeng Motors (XPEV.US) up 11.7%. Miniso (MNSO.US) spiked 6.4%, despite a 22.6% drop in interim net profit with increased dividend.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| AMZN (C) |
10580 |
245 (-) |
0.056 |
15.0 X |
| AMZN (P) |
10700 |
180 (-) |
0.130 |
4.9 X |
| TSLA (C) |
10688 |
420 (-) |
0.211 |
6.1 X |
| TSLA (P) |
10692 |
280 (-) |
0.325 |
4.2 X |
| META (C) |
10579 |
800 (-) |
0.260 |
13.4 X |
| META (P) |
10757 |
700 (-) |
1.150 |
3.4 X |
| APPLE (C) |
10758 |
243 (-) |
0.270 |
6.1 X |
| APPLE (C) |
10614 |
236 (-) |
0.084 |
15.2 X |
| APPLE (P) |
10678 |
170 (-) |
0.040 |
7.9 X |
| Nvidia (C) |
10721 |
175 (-) |
0.330 |
4.6 X |
| Nvidia (P) |
10714 |
125 (-) |
0.081 |
4.5 X |
