US Share Market Today: US Stocks on track for worst first half since 1970; check top gainers and losers
Share Market Today In The US
US stocks ended mixed on Wednesday, as the market prepares to close out the worst first half of the year since 1970. The blue-chip Dow Jones gained 0.27% 31,029.31. The S&P 500 slipped 0.07% to 3,818.83, and the tech-heavy Nasdaq Composite inched lower by 0.03% to 11,177.89. US GDP contracted by an annualized 1.6% in Q1, rekindling fears of an economic slowdown.
Top Gainers and Losers in US Stock Market Today
Airbnb down 4%: Airbnb extended fall post permanently banning the once popular 'Home Parties' feature at rental properties.
Alibaba fell 1%: Alibaba stock witnessed profit booking in weak market sentiment over growth concerns, stock still up 6% in last 1-week.
ARK Genomic Revolution ETF lost 1%: ARK Genomic Revolution ETF declined following the weakness in pharma growth stocks.
ARK Innovation ETF dropped 2%: ARK Innovation ETF dropped following the decline in underlying growth stocks of Roku, UiPath, Teladoc, and Zoom.
Coinbase crashed 3%: Coinbase extended fall following the cut in target share price by Goldman Sachs.
Direxion Daily S&P Oil & Gas Exp. & Prod. sank 11%: Direxion Daily S&P Oil & Gas Exp. & Prod. ETF fell sharply as the underlying energy stocks of Chevron, Phillips 66, and Exxon Mobil witnessed losses.
Direxion Daily Semiconductor Bull 3X ETF lost 7%: Direxion Daily Semiconductor Bull 3X ETF fell sharply tracking the massive profit booking in Semiconductors stocks of Nvidia, AMD, and Intel.
Facebook gained 5%: Facebook (Meta) share jumped amid short-covering in Big Tech stocks despite analysts cutting earnings estimates over falling ad budgets, recession risk.
Invesco NASDAQ 100 ETF ended flat: Invesco Nasdaq 100 ETF ended flat following a dull movement at Tech-heavy Nasdaq index amid concerns over economic slowdown.
Invesco QQQ Trust Series 1 ETF fell 3%: Invesco QQQ Trust Series 1 ended flat following a dull movement at Tech-heavy Nasdaq index amid concerns over economic slowdown.
McDonald jumped 2% : McDonald rallied as Atlantic Equities upgraded the stock to 'Overweight' on the back of resilient business model for long term.
Netflix lost 1%: Netflix extended decline ahead of the launch of its ad-supported subscription.
ProShares Bitcoin Strategy ETF ended flat: ProShares Bitcoin Strategy ETF ended flat tracking the volatile movement in the prices of Bitcoin and trading volumes.
ProShares Ultra Semiconductors crashed 5%: ProShares Ultra Semiconductors ETF fell sharply tracking the massive profit booking in Semiconductors stocks of Nvidia, AMD, and Intel.
Qualcomm fell 1%: Qualcomm winessed profit booking after gaining 7% last week following the victory against Apple over a patent challenge in US Supreme Court.
Rivian ended 3% lower: Rivian stock extended decline over the news around cut in share price targets over supply chain troubles, Shanghai shutdowns.
Robinhood dropped 4%: Robinhood extended falll as crypto exchange FTX denied any acquisition plans for Robinhood, stock still up 9% in last 5-days.
Shopify crashed 6%: Shopify shares fell amid profit booking post its 10-for-1 stock split.
Square lost 3%: Square shares witnessed profitbooking following a weak sentiment in growth stocks, stock still up 4% in last 1-week.
SSgA S&P 500 ETF ended flat: SSgA S&P 500 ETF ended flat following a mildly positive trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
Tesla sank 2%: Tesla share price crashed after the news around laying off 200 Autopilot workers, closure of California office leading to vehicle delivery concerns.
Twitter fell 3%: Twitter extended fall as IBM Retirement Fund cut exposure, speculation around submission of spam account data to Elon Musk.
Upstart crashed 10%: Upstart fell sharply after Morgan Stanley downgraded the stock to 'underweight' due to growth concerns in the current inflationary environment.
Vanguard S&P 500 ETF ended flat: Vanguard S&P 500 ETF ended flat following a mildly positive trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
Vanguard S&P 500 Growth ETF ended flat: Vanguard S&P 500 Growth ETF ended flat following a mildly positive trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
What happened in the US share market yesterday?
US stocks end mixed. Dow up 0.27%, SP 500 fell 0.07%, Nasdaq ended 0.03% lower.
How has the US stock market fared in the first half of the year?
The S&P 500, which is down about 20% in 2022, is on pace for its worst first half of the year since 1970, when the index lost 21.01%.
Which sector fell the most?
Chip stocks led declines after BofA downgraded them due to rising competition. Teradyne fell 5.2%. Advanced Micro Devices and Micron each lost more than 3%.
What happened in Big Tech FAANG stocks?
Big Tech ended higher. Amazon gained 1.4% after JPMorgan reiterated its overweight rating. Meta Platforms was up 2%, while Apple and Microsoft gained more than 1% each.