Following Moody's downgrade of the US sovereign rating last Friday, which triggered a chain reaction, the ratings of major US banks, including Bank of America (BAC.US) and JPMorgan (JPM.US), were further downgraded on Monday.
However, US Treasury yields ebbed from their highs, leading US stocks to open lower and close higher on Monday. The S&P 500 finished up 5 points at 5,963, marking its sixth consecutive day of gains; the DJIA closed up 137 points or 0.3% at 42,792; and the Nasdaq remained stable, ending up 4 points at 19,215.
Insurance company UnitedHealth (UNH.US) closed up 8%, shoring up the DJIA, and was the best performer among the 30 DJIA components.
Banks deteriorated, with Goldman Sachs (GS.US) and JPMorgan sinking 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) |
10469 |
440 (-) |
0.092 |
9.3 X |
| TSLA (C) |
10688 |
420 (-) |
0.760 |
3.3 X |
| TSLA (P) |
10604 |
190 (-) |
0.103 |
3.7 X |
| Nvidia (C) |
10537 |
165 (-) |
0.045 |
9.3 X |
| Nvidia (C) |
10573 |
150 (-) |
0.200 |
4.8 X |
| Nvidia (C) |
10615 |
135 (-) |
0.330 |
3.8 X |
| Nvidia (P) |
10538 |
116 (-) |
0.079 |
6.0 X |
| Nvidia (P) |
10581 |
95 (-) |
0.070 |
4.0 X |
| MSFT (C) |
10557 |
515 (-) |
0.191 |
10.7 X |
| MSFT (P) |
10511 |
390 (-) |
0.048 |
14.7 X |
