The market digested news including the conclusion of the Trump-Xi summit, the Fed’s rate cut path, as well as the earnings release of major techs. This led to a weak start and downtrend for US stocks on Thursday.
Meta (META.US) and Microsoft (MSFT.US) faced heavy selling pressure after their earnings reports, with the Nasdaq closing down 377 points or 1.6%, at 23,581. The S&P 500 ended down 68 points or 1%, at 6,822. The DJIA rattled and settled down 109 points or 0.2%, at 47,522.
Alphabet (GOOG.US) saw its quarterly revenue top US$100 billion for the first time, with cloud business revenue growing 34%, shoring its stock price up 2.5%, closing at US$281.9, a new closing high.
Apple (AAPL.US) and Amazon (AMZN.US) were mixed ahead of their earnings reports after the market close, with Apple's stock price adding 0.6% to US$271.4, a new closing high, while Amazon fell off 3.2%.
Tesla (TSLA.US), having conducted its tenth recall for the Cybertruck within two years of its launch, nosedived 4.6%. Nvidia (NVDA.US) slid 2%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| META (C) |
10003 |
900 (-) |
0.360 |
6.7 X |
| META (P) |
10757 |
700 (-) |
1.350 |
3.6 X |
| MSFT (C) |
10744 |
600 (-) |
0.246 |
9.7 X |
| MSFT (P) |
10715 |
435 (-) |
0.156 |
7.8 X |
| ALPBE (C) |
10759 |
240 (-) |
0.970 |
3.6 X |
| ALPBE (P) |
10012 |
230 (-) |
0.213 |
4.1 X |
| APPLE (C) |
10758 |
243 (-) |
0.720 |
4.7 X |
| APPLE (P) |
10793 |
210 (-) |
0.050 |
7.9 X |
| AMZN (C) |
10004 |
280 (-) |
0.280 |
5.8 X |
| AMZN (P) |
10700 |
180 (-) |
0.050 |
6.8 X |
| Nvidia (C) |
10055 |
230 (-) |
0.325 |
4.6 X |
| Nvidia (P) |
10057 |
165 (-) |
0.169 |
3.9 X |
| TSLA (C) |
10010 |
530 (-) |
0.690 |
4.2 X |
| TSLA (P) |
10011 |
370 (-) |
0.500 |
3.4 X |
