US Share Market Today: S&P 500 erases losses to end higher; check top gainers and losers
Share Market Today In The US
US Stocks staged a comeback on Tuesday afternoon, amid a bounce back in tech stocks due to lower interest rates. The tech-heavy Nasdaq closed 1.75% higher at 11,322.24 after opening the day sharply lower. The S&P 500 rose 0.16% to 3,831.39 after falling more than 2% at day’s lows. The Dow Jones ended 0.4% down at 30,967.82. Growing fears of a potential recession continued to dent sentiments.
Top Gainers and Losers in US Stock Market Today
Amazon gained 4%: Amazon share price rallied ahead of Prime Day sale, short-covering post touching 1-year low last month.
AMD gained 2%: AMD shares jumped on the back of short-covering in semiconductor stocks amid broad-recovery in Tech stocks.
ARK Genomic Revolution ETF rallied 8%: ARK Genomic Revolution ETF rose tracking the gains in pharma growth stocks such as Exact Science, Teladoc and Crispr.
ARK Innovation ETF jumped 9%: ARK Innovation ETF gained sharply following the rally in underlying growth stocks such as Zoom, Roku and UiPath.
Atlassian shot up 6%: Atlassian share extended gains over the news around star fund manager Cathy Wood's adding more of Atlassian in portfolio.
Cloudflare gained 10%: Cloudflare gained sharply post global research firm Evercore ISI gave 'Outperform' rating with a share price target of $65 over robust earnings expectations.
Coinbase skyrocketed 13%: Coinbase jumped following news around cryptocurrency lender Nexo acquiring Vauld, loan repayments by troubled crypto 'celsius'.
Direxion Daily Semiconductor Bull 3X ETF jumped 2%: Direxion Daily Semiconductor Bull 3X ETF jumped tracking the gains in Semiconductors stocks of Nvidia, AMD, and Intel.
DocuSign gained 7%: DocuSign share jumped on the back of short-covering in tech and growth stocks - stock still down 23% in last 1-month.
Google shot up 4%: Google share price jumped sharply ahead of the stock split. Short-covering driven buying in Big tech stocks also assisted the rally.
Invesco NASDAQ 100 ETF ended 2% higher: Invesco Nasdaq 100 ETF jumped tracking the short-covering driven rally in the Tech-heavy Nasdaq index.
Invesco QQQ Trust Series 1 ETF gained 2%: Invesco QQQ Trust Series 1 ETF extended gains tracking the rebound rally in the Tech-heavy Nasdaq index.
Meta (Facebook) shot up 5%: Meta (Facebook) gained sharply post global broker Bank of America rated it as a 'Top Recession Stock', stock still down 50% since start of year 2022.
Netflix rose 3%: Netflix extended gains post the successful launch of massively popular TV series Stranger Things Season 4 volume 2.
Nu shot up 6%: Nu holdings rallied sharply on the back of news around acquisition plans to boost growth in Latin America business.
Nvidia up 3%: Nvidia jumped on the back of short-covering in semiconductor stocks amid broad-recovery in Tech stocks.
ProShares Bitcoin Strategy ETF ended 6% higher: ProShares Bitcoin Strategy ETF extended gains tracking the short-covering driven rally in Bitcoin prices.
ProShares Ultra Semiconductors gained 3%: ProShares Ultra Semiconductors ETF jumped tracking the gains in Semiconductors stocks of Nvidia, AMD, and Intel.
Qualcomm gained 2%: Qualcomm gained on the back of short-covering in semiconductor stocks amid broad-recovery in Tech stocks.
Roblox shot up 14%: Roblox share extended gains on the back of short-covering driven rally in tech stocks - stock up 28% in last 1-month.
SSgA S&P 500 ETF ended flat: SSgA S&P 500 ETF ended flat following the positive trend at the S&P 500 index ahead of the start of the quarterly earnings reporting season.
Unity Software jumped 13%: Unity Software share extended gains on the back of short-covering in tech and growth stocks - stock still down 69% since start of the year 2022.
Vanguard S&P 500 ETF ended flat: Vanguard S&P 500 ETF ended flat tracking the positive move in S&P 500 index ahead of the start of earnings reporting season.
Vanguard S&P 500 Growth ETF ended 1% higher: Vanguard S&P 500 Growth ETF gained tracking the positive move in S&P 500 index ahead of the start of earnings reporting season.
What happened in the US stock market?
Dow down 0.4%, SP 500 climbed 0.16%, Nasdaq ended 1.75% higher.
Which stocks led the bounceback?
Stocks staged an afternoon rally on Tuesday as concerns about a possible recession in the US hit investor sentiment, but lower interest rates boosted the tech sector.
Which sector was most impacted?
Stocks linked to economic growth fell sharply, with machinery names Deere and Caterpillar falling 3.2% and 2.5%, respectively, and hitting their lowest levels of the year.
Why did tech stocks rally?
Lower interest rates boost tech stocks. Docusign and Zoom Video rose 6.7% and 8.5%. The Ark Innovation ETF, jumped more than 8%.
Any stock specific action?
Ford fell 1% after the automaker’s second-quarter sales came in below estimates.