US Market today: Why is Shopify share price rallying? Check top gainers and losers in the US markets

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US stock market news today

What happened in the US stock market today?

  • US stocks snapped a 2-day losing streak. Nasdaq up 0.76%, S&P 500 rallied 0.69% and Down Jones jumped 0.64%.
  • Investors geared up for the Central Bank meeting which kicked off on Tuesday. The policy decision will be announced on Wednesday.
  • Materials, consumer discretionary and industrial stocks were the biggest gainers.
  • Tech stocks remained under pressure. Microsoft, Western Digital and Seagate plunged to a fresh 52-week low.
  • Wix.com shares rallied 16% after activist investor Starboard Value revealed a 9% stake in the web development platform.

US stock market today: Top gainers and losers

Stock price actionReason behind the move
Adobe fell 1%Adobe share price extended fall over analysts' valuation concerns over $20 billion acquisition plan of web-based design platform Figma.
Amazon rose 1%Amazon share price rose over reports of expansion into bulk inventory storage and automated distribution.
Apple jumped 3%Apple share price rallied driven technical bounce back, analysts upgrade over solid iPhone demand and monetisation plans to Ad-platform.
Bank Of America jumped 2%Bank Of America share price jumped along with financial stocks ahead of US central bank's meeting over inflation control plan.
Cloudflare gained 4%Cloudflare share price traded higher amid the rebound of tech stocks following last week's selloff, US Central Bank's meeting eyed over inflation control.
Coinbase crashed 6%Coinbase share price fell sharply tracking the losses in Bitcoin price ahead of the interest rate decision from the US Central Bank, scheduled this Wednesday.
Direxion Daily Semiconductor Bull 3X Shares ETF rose 2%Direxion Daily Semiconductor Bull 3X Shares ETF price rose tracking the gains in chip stocks of NVIDIA and QUALCOMM.
Direxion Daily Technology Bull 3X Shares ETF rose 2%Direxion Daily Technology Bull 3X Shares ETF price rose driven by gains in the shares of Apple, NVIDIA and PayPal.
Global X Lithium & Battery Tech ETF rose 2%Global X Lithium & Battery Tech ETF price rose tracking the gains in lithium prices and underlying stock of Albemarle Corporation.
Intuit ended flatIntuit share price ended flat despite yesterday's reports of management, hedge funds selling stock.
Mastercard ended flatMastercard share price ended flat despite reports of potential regulatory actions over 'Buy Now Pay Later' business.
Microsoft ended flatMicrosoft share price ended flat despite reports of legal hurdle in UK for its $69 billion deal of acquisition of Activision.
Netflix rose 1%Netflix share price ended flat despite signs of growing optimism on Advertising business.
Nike jumped 3%Nike share price jumped rallied ahead of earnings announcement, anticipation of strong growth in North-American market.
ProShares Ultra Semiconductors gained 1%ProShares Ultra Semiconductors ETF price rose tracking the gains in chip stocks of NVIDIA and QUALCOMM.
ProShares UltraPro S&P 500 ETF lost 2%ProShares UltraPro S&P 500 ETF price extended decline ahead of US central bank's decision on interest rate hike.
Roblox crashed 6%Roblox share price extended fall over weaker than anticipated August month numbers for daily active users and revenue.
Shopify jumped 4%Shopify share price jumped after a target share price upgrade by Atlantic Equities, price target now $46.
Tesla rose 2%Tesla share price jumped over reports of completion production capacity expansion at Shanghai plant
WeWork sank 4%WeWork share price extended fall amid reports of $300 million fundraising plan to expand operations in India amid valuation concerns.
  • Why did Shopify stock rally?

  • Why did Nike share price jump?

  • Why did WeWork stock crash?

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