Weighed down by weakened AI-related stocks and the US government shutdown deadlock, the S&P 500 ended its seven-day rally, falling by 25 points or 0.4% to close at 6,714. The DJIA ended at 46,602, down by 91 points or 0.2%. The Nasdaq also declined by 153 points or 0.7%, closing at 22,788.
Worrying that the massive spending behind the AI boom won't match actual profitability, investors became more cautious about their investment. The Information, meanwhile, questioned the feasibility of Oracle's (ORCL.US) plan to buy chips from Nvidia (NVDA.US) for rental, suggesting that it is generating lighter margins and may even be losing some money. Oracle's stock price closed down by over 2%, while Nvidia edged 0.3% lower.
Tesla (TSLA.US) slumped by 4.5%, even though it launched a budget version of the Model Y with a price of USD39,990 as expected on Tuesday.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| AMD (C) |
10760 |
225 (-) |
0.820 |
2.9 X |
| AMD (P) |
10777 |
155 (-) |
0.193 |
2.7 X |
| TSLA (C) |
10010 |
530 (-) |
0.770 |
3.8 X |
| TSLA (C) |
10688 |
420 (-) |
0.770 |
5.4 X |
| TSLA (P) |
10011 |
370 (-) |
0.640 |
2.8 X |
| TSLA (P) |
10692 |
280 (-) |
0.043 |
7.4 X |
| Nvidia (C) |
10055 |
230 (-) |
0.249 |
4.8 X |
| Nvidia (C) |
10721 |
175 (-) |
0.455 |
4.7 X |
| Nvidia (P) |
10057 |
165 (-) |
0.220 |
3.5 X |
| Nvidia (P) |
10714 |
125 (-) |
0.030 |
6.2 X |
