US Market Today: Why did Tesla crash 7%? Nasdaq dropped 0.5%: check top gainers & losers
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What happened in the US stock market today?
- US stocks ended lower in a volatile session on Friday, after better-than-expected jobs data rekindled fears of rate hike.
- The S&P 500 closed 0.16% lower to end at 4,145.19, and the Nasdaq Composite lost 0.50% to 12,657.56. Dow Jones ended 0.23% higher.
- Bank stocks gained on hopes that interest rate hikes will continue. Energy stocks also gained, but technology companies slumped.
US Most Active Stocks Today
| Stock price action | Reason behind the move |
|---|---|
| Atlassian skyrocketed 17% | Atlassian share price jumped sharply after reporting solid revenue and raising annual business growth forecast well above analyst expectations. |
| Cloudflare jumped 27% | Cloudflare share price skyrocketed after reporting solid revenue and raising annual business growth forecast. |
| Coinbase skyrocketed 5% | Coinbase share price extended gains on the back of a deal to provide access to crypto trading and custody services to institutional clients of BlackRock - world’s largest asset manager. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF jumped 6% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price jumped tracking the gains in the energy stocks over volatile oil prices. |
| Direxion Daily Semiconductor Bull 3X ETF fell 2% | Direxion Daily Semiconductor Bull 3X ETF price fell following the losses in chip stocks of AMD, Nvidia and Qualcomm. |
| Direxion Daily Technology Bull 3X ETF fell 1% | Direxion Daily Technology Bull 3X ETF price fell following the losses in underlying tech stocks of Visa, Nvidia and Mastercard. |
| Invesco NASDAQ 100 ETF fell 1% | Invesco NASDAQ 100 ETF price fell tracking the losses in Amazon, Nvidia and Adobe. |
| ProShares Bitcoin Strategy ETF jumped 2% | ProShares Bitcoin Strategy ETF (BITO) price rose tracking the gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors fell 2% | ProShares Ultra Semiconductors ETF price fell following the losses in chip stocks of Marvell, Texas Instruments and Broadcom. |
| Robinhood fell 4% | Robinhood share price fell sharply over the reports of CEO Vladimir Tenev selling stocks in open market. |
| Tesla fell 7% | Tesla share price fell sharply over reports of California Regulator planning to penalise the firm over falsely advertising autopilot features. |
| Twilio crashed 14% | Twilio share price fell sharply post disappointing June-quarter sales and earnings guidance. |
| Twitter jumped 4% | Twitter share price rallied over reports of feature revamp of Spaces, themed stations and a daily digest. New exposure by many hedge funds and a anticipation of favourable outcome in case against Elon Musk. |
| Udemy jumped 4% | Udemy share price jumped sharply over reports to KeyCorp raising their price target on the stock to $16 per share. |
| Unity gained 6% | Unity share price surged over reports of New York State Common Retirement Fund raising its position in the stock, technical bounce back. |
What happened in the US stock market?
US Stocks ended mixed. Nasdaq fell 0.5%, SP 500 fell 0.2% while Dow gained 0.2%.
Wha led to the fall in Nasdaq?
Fall in share prices of Tesla, Meta (Facebook) and Amazon led to fall in Nasdaq.
Which sectors gained and which lost?
Energy and financial stocks gained whereas tech stocks pulled down the indices.
Any stock specific action?
Lyft share price surged 17% after forecasting operating profit of $1 billion for 2024.
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