US Market today: Why is Spotify stock on a downtrend? Check out gainers and losers in US stocks today

US stock market news today
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What happened in the US stock market today?

  • US Stocks ended lower. Nasdaq down 1.3%, SP 500 fell 0.7% and Dow Jones closed 0.5% lower. 
  • FOMC meet reaffirmed the likelihood of a 0.75% rate hike in September.
  • Target share price fell sharply after reporting a 90% fall in quarterly earnings and missing sales estimates.
  • Bed Bath & Beyond share price spiked 12% amid the ongoing meme stock trading frenzy - stock has gained 316% in the last 1-month.
  • Cisco’s quarterly earnings topped expectations, share price up 4% in post-market trading. 

US Most Active Stocks Today

Stock price actionReason behind the move
Arcimoto fell 5%Arcimoto share price extended fall after posting weak sales and higher than anticipated losses in the June quarter.
ARK Genomic Revolution ETF lost 5%ARK Genomic Revolution ETF price fell sharply driven by profit-booking in underlying stocks of Teladoc, Fate, Twist, and CRISPR Therapeutics.
ARK Innovation ETF lost 5%ARK Innovation ETF price fell sharply driven by profit-booking in underlying stocks of Teladoc, Roku, Block, and Zoom.
Direxion Daily Semiconductor Bull 3X ETF fell 8%Direxion Daily Semiconductor Bull 3X ETF price fell following the loss in chip stocks of Analog Devices, Texas Instruments, and Marvell Technology.
Direxion Daily Technology Bull 3X ETF fell 2%Direxion Daily Technology Bull 3X ETF price fell following the losses in underlying tech stocks of NVIDIA, PayPal, Visa, and Mastercard.
Disney fell 2%Disney share price witnessed profit booking, stock still up 28% in last 1-month on the back of robust earnings and solid rise in subscribed customers in June quarter.
DocuSign fell 6%DocuSign share price extended fall after Tiger Global Management, the hedge fund owned by billionaire Chase Coleman, sold its stake in the stock.
Facebook (Meta) lost 3%Facebook (Meta) share price fell tracking the weakness in the broader market, reports of Saudi Arabia's Public Investment Fund (PIF) increasing the stake capped the losses.
Nu lost 8%Nu share price witnessed profit booking, stock still up 13% in last 1-week on the back of robust earnings and solid growth in active users.
ProShares Bitcoin Strategy ETF fell 3%ProShares Bitcoin Strategy ETF fell sharply tracking the decline in Bitcoin prices and trading volumes.
ProShares Ultra Semiconductors fell 2%ProShares Ultra Semiconductors ETF price fell driven by losses in chip stocks of Nvidia, Intel and Broadcom.
ProShares UltraPro S&P 500 ETF lost 2%ProShares UltraPro S&P 500 ETF price fell tracking the losses in S&P 500 index weak earnings release by Target.
Rivian lost 5%Rivian share price witnessed profit booking amid fall in the growth stocks, stock still up 15% in last 1-month.
Roblox fell 4%Roblox share price extended decline on the back of profit-booking, the video game platform share price still up 16% in last 1-month.
Shopify fell 6%Shopify share price fell amid the profit booking, launches Collabs to connect creators with brands.
Snapchat lost 4%Snapchat share price witnessed profit booking after rallying sharply in last week after crossing a million paid subscribers, stock still up 12% in last 1-week.
Spotify fell 5%Spotify share price extended fall over reports of it offering 3-month trial for its subscription service, indicating sales pressure.
Square lost 7%Square share price fell sharply over the downgrade by Macquarie, price target now $64 - 20% lower than current market price.
Twilio lost 6%Twilio share price fell sharply over reports of management team selling stocks in the open market.
UiPath fell 6%UiPath share price fell sharply over reports of management team selling stocks in the open market.
Upstart fell 9%Upstart share price witnessed profit booking after rallying sharply in last month after large purchase by a hedge fund, stock still up 26% in last 1-month.
WeWork lost 9%WeWork share price witnessed profit booking after rallying sharply in last month, stock still up 13% from the start of August month.
Zoom lost 6%Zoom share price extended fall after Citi downgraded it to 'Sell' due to hurdles to sustaining growth.
  • Will Fed increase interest rates in Sept meeting?

  • Why is Spotify share price on a downtrend?

  • Why did Target share price decline?

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