US stock markets witnessed another spell of bullish rally on Wednesday as Dow Jones Industrial Average surged 1.29 percent or 143.95 points to close at the level of 11,320.71. Standard & Poor’s 500 index jumped 1.31 percent or 15.25 points to close at 1,177.60 while NASDAQ Composite gained 0.88 percent or 21.63 points to 2,467points.
Bank of America Corp (NYSE:BAC) was the top performer at Dow Jones in yesterday’s session. The share price surged 10.95 percent to close at $6.99. Exceptionally high trading volume of 601.57 million shares as compared to its average traded volume of 219.34 million shares per day depicts that the share price is moving in a strong bullish trend. However, BAC was still 26.50 percent below its 50-days simple moving average.
The Home Depot Inc (NYSE:HD) jumped 3.81 percent to close at $34.37 with traded volume of 19.88 million shares. On average the share price is traded with volume of 13.67 million shares per day. Home depot is trading at a price to earnings of 15.34 times with earnings of $2.24 per share as per its latest financial statements. Positive aspect about Home Depot is that is EPS has increased by 30.02 percent in the current year.
American Express Company (NYSE:AXP) gained 3.58 percent to close at $48.08 in last trading session. Traded volume stood at 8.58 million shares as compared to its average traded volume of 7.94 million shares per day. American Express has reported the increase of 117 percent in its EPS to $3.82 this year. The company’s high profitability is evident from its return on equity of 27.95 percent.
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