Nasdaq Today : Tech stocks shine. Apple, Amazon to rally?
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What happened in the US stock market today?
- US stocks extended gains post yesterday's rally driven by solid earnings by Big Tech stocks (Google, Microsoft). Dow Jones Industrial Average, S&P 500, and Nasdaq all 3 indices rallied more than 1% each.
US GDP fell in 2nd consecutive quarter!
- The American economy is in recession, theoretically. The Gross Domestic Product fell at a 0.9% annualized rate in the June quarter in the US. The fall in economic growth can be partially attributed to aggressive interest rate hikes by the US central bank (Federal Reserve) to control the 4-decade high inflation.
US Most Active Stocks Today
| Amazon rose 1% | Amazon share price rose 1% ahead of the earnings release. The share price shot up more than 12% during post-market trading as the online retailer reported robust quarterly sales beating Wall Street estimates. |
| Apple ended flat | Apple share price ended flat ahead of the earnings release. The share price jumped sharply during Post market trading as over strong revenue growth forecast in the 2nd half of 2022. |
| Arcimoto jumped 5% | Arcimoto share price jumped sharply after the firm unveiled a new, improved prototype of Mean Lean Machine, three-wheeled EV tilting: e-trike. |
| Atlassian jumped 4% | Atlassian share price rallied sharply ahead of earnings release next week, strong jump in revenue anticipated. |
| Coinbase jumped 6% | Coinbase share price witnessed short covering after falling 21% on Monday post news of regulatory probe, Ark Investment Management dumping the stock. Stock still down 18% in last 5-days. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF rose 1% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF price rallied following the gains in the energy stocks post amid volatility in oil prices. |
| Direxion Daily Semiconductor Bull 3X ETF shot up 3% | Direxion Daily Semiconductor Bull 3X ETF price jumped on the back of a sharp rally in semiconductor stocks such as Nvidia, Intel. |
| Direxion Daily Technology Bull 3X ETF shot up 5% | Direxion Daily Technology Bull 3X ETF price jumped on the back of a sharp rally in underlying stocks of Microsoft, Mastercard and Nvidia. |
| Facebook (Meta) fell 5% | Facebook (Meta) share price fell sharply post reporting a fall in revenue for the first time. |
| First Trust Nasdaq Clean Edge Green Energy ETF shot up 6% | First Trust Nasdaq Clean Edge Green Energy ETF price rose as the underlying stocks of Sunrun, Plug Power, and SolarEdge jumped sharply. |
| Ford jumped 6% | Ford share price jumped sharply post the firm reported strong growth in operating income and indicated plans for larger dividends for the year 2022. |
| Intuit shot up 4% | Intuit share price jumped sharply over a positive rating by global brokerage house Keybanc, target share price was raised to $475 per share. |
| Mastercard jumped 3% | Mastercard share price jumped post earnings release, soaring credit card spending supported the revenue. |
| Microsoft surged 3% | Microsoft share price extended gains after reporting solid business growth in June quarter, and a robust business outlook for 2nd half of 2022. |
| Nike rose 4% | Nike share price rallied after CCLA Investment Management bought more stocks, 'Neutral' rating by Piper Sandler with a share price target of $115. |
| Nu rose 4% | Nu share price extended gains following the overall positivity among growth stocks post the 0.75% rate hike by US Fed. |
| ProShares Bitcoin Strategy ETF jumped 5% | ProShares Bitcoin Strategy ETF price jumped on the back of solid gains in the prices and volume of Bitcoin. |
| ProShares Ultra Semiconductors ETF jumped 2% | ProShares Ultra Semiconductors ETF price rallied on the back of a sharp rally in semiconductor stocks such as Nvidia, ASML. |
| ProShares UltraPro S&P 500 ETF jumped 4% | ProShares UltraPro S&P 500 ETF price rose on the back of a sharp rally in underlying stocks of Microsoft, Mastercard and Nvidia. |
| Rivian shot up 6% | Rivian share price shot up over the news of the company implementing cost-cutting measures and production schedule on time. |
| Udemy fell 6% | Udemy share price fell sharply fell ahead of earnings release next week, muted revenue growth expected. |
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