US stocks elevated on Wednesday, and the surge in oil prices slackened, as the market kept close tabs on the developments in the US-Israel-Iran conflict but the latest US economic data boosted investor sentiment.
The Nasdaq showed the strongest rebound among the three major stock indices, opening up 104 points or 0.5%, and closing up 290 points or 1.3% at 22,807. The S&P 500 added 52 points or 0.8%, closing at 6,869. The DJIA opened up 88 points or 0.2% and briefly turned south, but ended the day up 238 points or 0.5%, at 48,739.
Techs picked up, with Micron Technology (MU.US) and AMD (AMD.US) swelling more than 5%; Intel (INTC.US) leaping about 6%; Broadcom (AVGO.US) and NVIDIA (NVDA.US) both mounting by over 1%.
Amazon (AMZN.US) led the upswing among "Magnificent Seven", up by nearly 4%, while Tesla (TSLA.US) shot up over 3%.
The US will implement a series of measures to stabilize oil transportation in the Persian Gulf, and hence oil prices fell for the first time since the Iran conflict on Wednesday, leading to a decline in oil stocks, with Chevron (CVX.US) and ExxonMobil (XOM.US) each dropping over 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) |
11036 |
590 (-) |
0.122 |
7.5 X |
| TSLA (P) |
11037 |
435 (-) |
0.960 |
3.4 X |
| TSLA (P) |
10011 |
370 (-) |
0.044 |
20.6 X |
| AMZN (C) |
11070 |
245 (-) |
0.280 |
5.4 X |
| Nvidia (C) |
11007 |
205 (-) |
0.198 |
5.9 X |
| Nvidia (P) |
10057 |
165 (-) |
0.091 |
8.0 X |
| AMD (C) |
10760 |
225 (-) |
0.285 |
4.9 X |
| AMD (P) |
10777 |
155 (-) |
0.140 |
4.1 X |
| Broadcom (C) |
10072 |
435 (-) |
0.038 |
12.6 X |
| Broadcom (P) |
10073 |
310 (-) |
0.241 |
6.8 X |
