US Market Today: Strong Economic data and robust earnings led US markets higher, Nasdaq gained 2.6%
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What happened in the US stock market today?
- US Stocks ended in green over strong economic data on the service sector and robust earnings. S&P 500 jumped 1.6%, Nasdaq skyrocketed 2.6%, and Dow ended 1.3% higher.
- Walmart has started laying off corporate employees about a week after the retail giant slashed its profit outlook.
- Federal Reserve President James Bullard does not think the US is in a recession, citing job gains and low unemployment.
US Most Active Stocks Today
| Apple jumped 4% | Apple share price jumped over reports of the firm trying to build an ad-tech platform, hiring a team. |
| ARK Genomic Revolution ETF jumped 5% | ARK Genomic Revolution ETF price jumped sharply over the gains in underlying stocks of Ionis, Pacific, Fate, and Regeneron. |
| ARK Innovation ETF jumped 6% | ARK Innovation ETF rallied following the gains in underlying growth stocks of Coinbase, Square, Shopify, Unity, and Twilio. |
| Cloudflare jumped 10% | Cloudflare share price jumped ahead of June quarter's earnings, Citi upgrades the stock with $60 target price. |
| Coinbase skyrocketed 20% | Coinbase share price surged over anticipation of a crypto regulation bill moving forward in US senate. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF fell 5% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price fell tracking the loss in the energy stocks over volatility in oil prices. |
| Direxion Daily Semiconductor Bull 3X ETF jumped 8% | Direxion Daily Semiconductor Bull 3X ETF gained following the gains in chip stocks of Marvell, Texas Instruments and Broadcom. |
| Direxion Daily Technology Bull 3X ETF jumped 8% | Direxion Daily Technology Bull 3X ETF rallied following the gains in underlying tech stocks of PayPal, Apple and Microsoft. |
| Facebook (Meta) jumped 5% | Facebook (Meta) share price jumped over news of the firm trying to raise money from Bonds sale. |
| Freshworks jumped 8% | Freshworks share price jumped after posting encouraging June-quarter's earnings, robust business growth guidance for 2nd half of year 2022. |
| Invesco NASDAQ 100 ETF jumped 3% | Invesco NASDAQ 100 ETF price rallied sharply tracking the gains in Tech-heavy Nasdaq index. |
| Nu jumped 9% | Nu share price jumped sharply after Steward Partners took new exposure in the stock, short-covering in Fintech stocks post solid earnings by fellow fintech specialist SoFi Technologies. |
| PayPal jumped 9% | PayPal share price rallied over strong profit guidance for 2nd half of year 2022, $2 billion stake purchase by large hedge fund Elliott Management. |
| ProShares Bitcoin Strategy ETF gained 2% | ProShares Bitcoin Strategy ETF (BITO) jumped sharply tracking the gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors jumped 4% | ProShares Ultra Semiconductors ETF price jumped following the gains in chip stocks of Marvell, Texas Instruments and Broadcom. |
| Robinhood surged 12% | Robinhood share price surged over anticipation of a crypto regulation bill moving forward in US senate, narrowing losses in June quarter. |
| S&P 500 Trust ETF gained 2% | S&P 500 Trust ETF price jumped tracking the gains in S&P 500 index over the positive economic data on service sector. |
| Shopify jumped 11% | Shopify share jumped sharply amid technical bounce back, stock up 21% in last 1-week. |
| Square gained 11% | Square share price jumped ahead of its earnings, short-covering in Fintech stocks post solid earnings by fellow fintech specialist SoFi Technologies. |
| Twilio gained 9% | Twilio share price extended gains ahead of its June quarter's earnings release, solid business growth guidance anticipated. |
| UiPath spiked 9% | UiPath share price extended gains over acquisition of London-based NLP startup Re:infer. |
| Unity Software gained 10% | Unity Software stock price jumped sharply over reports of possible selling of China business. |
| Upstart jumped 14% | Upstart share price extended gains amid short-covering in Fintech stocks post solid earnings by fellow fintech specialist SoFi Technologies. |
| Vanguard S&P 500 ETF jumped 2% | Vanguard S&P 500 ETF price jumped tracking the gains in S&P 500 index over the positive economic data on service sector. |
| Vanguard S&P 500 Growth ETF jumped 2% | Vanguard S&P 500 Growth ETF tracking the gains in Tech and growth stocks such as PayPal, Apple and Amazon. |
| WeWork gained 8% | WeWork share price rallied ahead of its June quarter's earnings release, upgrade by Credit Suisse. |
Why did US stock market rise today?
US Stocks ended in green over strong economic data on the service sector and robust earnings. S&P 500 jumped 1.6%, Nasdaq skyrocketed 2.6%, and Dow ended 1.3% higher.
Is US economy in Recession?
Federal Reserve President James Bullard does not think the US is in a recession, citing job gains and low unemployment.
Why did Coinbase jump 20% today?
Coinbase share price surged over anticipation of a crypto regulation bill moving forward in US senate.
Why did PayPal gain today?
PayPal share price rallied over strong profit guidance for 2nd half of year 2022, $2 billion stake purchase by large hedge fund Elliott Management.
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