Bank of America (BAC.US) and Morgan Stanley (MS.US) delivered impressive earnings on Wednesday, boosting investor sentiment. The S&P 500 regained its upward trajectory, finishing up 26 points or 0.4% at 6,671. The Nasdaq jumped up 148 points or 0.7% to 22,670.
However, concerns over US-China trade talks and the risk of a US government shutdown kept the market cautious, leading to a decline in the DJIA of 17 points at 46,253 at close.
Bank earnings were way beyond street consensus, reflecting a still robust economy. Bank stocks outshone on Wednesday, with Bank of America soaring 4.4% and Morgan Stanley swelling 4.7%.
However, market volatility remained high. The VIX Index grew to 20.6 towards the end of the session, close to last Friday's high of 21.6, the highest level since late May.
Meanwhile, Nvidia (NVDA.US) retreated by 0.1%, wiping off an earlier gain of up to 2.7%. Tesla (TSLA.US) rebounded by 1.4%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10055 |
230 (-) |
0.182 |
5.2 X |
| Nvidia (C) |
10721 |
175 (-) |
0.340 |
5.2 X |
| Nvidia (P) |
10057 |
165 (-) |
0.265 |
3.3 X |
| Nvidia (P) |
10714 |
125 (-) |
0.041 |
5.9 X |
| TSLA (C) |
10010 |
530 (-) |
0.740 |
4.1 X |
| TSLA (P) |
10011 |
370 (-) |
0.560 |
3.1 X |
