The DJIA and S&P 500 notched all-time highs again in the early session on Wednesday. The DJIA set a record high, peaking at 49,621. Yet, later on, it ebbed back and closed down 466 points or 0.9% at 48,996. The S&P 500 also descended after hitting a new high, ending down 23 points or 0.3% at 6,920. The Nasdaq hiked 37 points or 0.2% to 23,584.
The financial and energy sectors declined. Bank of America (BAC.US) and Wells Fargo (WFC.US) each fell off over 2%. Meanwhile, Exxon Mobil (XOM.US) shed over 2%, whereas Chevron (CVX.US) lost nearly 1%.
US President Donald Trump stated that the US will ban large institutional investors from purchasing more detached houses, heaping pressure on private equity stocks like Blackstone Inc. (BX.US) and Apollo Global Management (APO.US), both down over 5%.
Some tech stocks elevated against the market trend, with Alphabet (GOOG.US) up 2.5% and Nvidia (NVDA.US) up 1%. Intel (INTC.US) logged a 52-week high, leaping over 6%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| ALPBE (C) |
10080 |
360 (-) |
0.425 |
5.4 X |
| ALPBE (P) |
10012 |
230 (-) |
0.094 |
5.4 X |
| Nvidia (C) |
10055 |
230 (-) |
0.094 |
7.6 X |
| Nvidia (C) |
11007 |
205 (-) |
0.305 |
4.5 X |
| Nvidia (P) |
10057 |
165 (-) |
0.160 |
5.0 X |
