Bank of America results lift mood on Wall Street; Dow 30 up by over 500 points, S&P 500, Nasdaq Composite also gain

US Markets opened with a bang on Monday riding on a strong quarterly results posted by the Bank of America (BAC). The results were better than the street's expectations and assume importance at a time when the US Federal Reserve has trained its gun on taming inflation and increasing interest rates. At the time of filing of the story, BAC shares were trading at USD 33.64 on the NYSE and was up over 6 per cent. The centment was reflected in the overall US markets as Dow 30 at this time was trading with gains of over 500 points or 1.72 per cent at  30,145.20. Meanwhile, S&P 500 was trading at 3,669.70, up by 86.63 points or 2.42 per cent and Nasdaq Composite was trading at 10,633.50, higher by 312.09 points or 3.02 per cent.

BAC Share Price Chart

Indian stock markets stared the week on a positive note with  benchmarks ending Monday in deep green. While the BSE Sensex closed at 58,410.98 and was up by over 491 points or 0.85 per cent from the Friday closing price, the Nifty50 index settled at 17311.80, up by 126 points or 0.73 points. In the 30-stock Sensex, 23 shares gained while remaining 7 were the losers. As for the 50-share Nifty50, 37 advanced and 13 declined. 

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