US Market today: Why is Robinhood stock rising? Check top gainers and losers in the US markets
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What happened in the US stock market today?
- US stocks ended mixed on Tuesday. Nasdaq up 0.25%, S&P 500 dropped 0.21% and Dow Jones declined 0.43%.
- Volatile oil prices, soaring inflation, geopolitical tensions and rising US Dollar hurt sentiments.
- The S&P 500 posted a new closing low for 2022 and entered into a deeper bear market. The index is now down 24.3% from its record low in January.
- Value buying emerged in mega cap tech stocks. Apple, Nvidia, and Salesforce closed up to 2% higher.
- Shares of electric vehicle company Lucid jumped 2% after Cantor Fitzgerald initiated coverage of the stock with an overweight rating.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Adobe ended flat | Adobe share price ended flat after touching its 1-year low yesterday, valuation concerns over Figma acquisition deal leading to weakness. |
| Airbnb rose 3% | Airbnb share price rose yesterday driven by short covering, positive review by Truist Securities. |
| Amazon fell 1% | Amazon share price witnessed profitbooking yesterday despite firm's plan to launch another Prime Day in October - sharp jump in sales anticipated. |
| AMD rose 1% | AMD share price rose yesterday post announcing a launch of new series of high-performance processors. |
| Apple rose 1% | Apple share price rose yesterday after reports of it starting the iPhone 14 production in India, in a shift away from China. |
| ARK Innovation ETF rose 2% | ARK Innovation ETF price rose yesterday, driven by the gains in underlying growth stocks of Tesla, Block and Twilio. |
| Bank Of America fell 1% | Bank Of America share price closed near to 1-year low yesterday driven by recession fears post the 0.75% rate hike by US central bank. |
| Cloudflare jumped 5% | Cloudflare share price rose yesterday amid reports of a launch of $1.25 bn fund to help startups, partners 26 VC firms. The firm is fighting for Cloud business market share. |
| Coinbase rose 1% | Coinbase share price ended higher yesterday driven by short covering, volatility in Bitcoin prices. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF rose 5% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price rose yesterday driven by gains in energy stocks of Marathon Petroleum and Devon Energy. |
| Direxion Daily Semiconductor Bull 3X Shares ETF rose 3% | Direxion Daily Semiconductor Bull 3X Shares ETF price rose yesterday tracking the gains in chip stocks of Marvell Technology, NVIDIA and AMD. |
| Direxion Daily Technology Bull 3X Shares ETF rose 1% | Direxion Daily Technology Bull 3X Shares ETF price rose yesterday driven by gains in the shares of PayPal and NVIDIA. |
| Disney fell 2% | Disney share price ended near to its 1-year low yesterday over analysts' concerns about theme park business's revenue growth. |
| Dominos Pizza fell 3% | Domino’s Pizza share price touched 1-year low yesterday after a brokerage firm gave a negative review over the pizza company's staffing issues. |
| FedEx rose 1% | FedEx share price rose driven by short covering after touching a new 1-year low yesterday, down 30% since announcing weak revenue growth forecast. |
| Ford lost 1% | Ford share price extended fall yesterday amid reports of management shuffle amid global supply chain concerns, stock down 10% in last 5-trading sessions. |
| Freshworks jumped 5% | Freshworks share price rallied yesterday amid reports of institutional and management buying stocks. |
| Global X Lithium & Battery Tech ETF rose 1% | Global X Lithium & Battery Tech ETF price rose yesterday tracking lithium prices and gains in underlying stock of Albemarle Corporation. |
| Google (Alphabet) fell 1% | Google (Alphabet) share price ended near its 1-year low yesterday, recession concerns post 0.75% rate hike by US central bank hurt sentiments. |
| Intuit ended 1% higher | Intuit share price rose yesterday drive by short covering, stock still down 12% since announcing weak earnings growth outlook 2-weeks back. |
| Invesco NASDAQ 100 ETF ended flat | Invesco NASDAQ 100 ETF ended flat yesterday tracking the volatility in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| Invesco QQQ Trust Series 1 ETF ended flat | Invesco QQQ Trust Series 1 ETF ended flat yesterday tracking the volatility in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| JPMorgan fell 1% | JPMorgan share price closed near to 1-year low yesterday driven by recession fears post the 0.75% rate hike by US central bank. |
| Mastercard fell 1% | Mastercard share price touched new 1-year low yesterday amid reports of potential regulatory actions over 'Buy Now Pay Later' business. |
| Meta (Facebook) fell 1% | Meta (Facebook) share price touched new 1-year low yesterday, reports of regulatory probe over users' tracking on iOS hurt sentiments. |
| Microsoft ended flat | Microsoft share price ended flat yesterday, legal hurdle in UK for $69 billion Activision acquisition deal hurt sentiments. |
| Nike ended flat | Nike share price ended near its 1-year low yesterday post weak growth forecast, brokerage downgrades. |
| Nio ended 2% lower | Nio share price ended lower yesterday in a volatile trade driven by concerns over potential lockdowns in China. |
| ProShares Bitcoin Strategy ETF fell 1% | ProShares Bitcoin Strategy ETF price fell yesterday driven by losses in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors rose 2% | ProShares Ultra Semiconductors ETF price rose yesterday tracking the gains in chip stocks of NVIDIA and Broadcom. |
| ProShares UltraPro S&P 500 ETF lost 1% | ProShares UltraPro S&P 500 ETF price extended decline yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Qualcomm rose 1% | Qualcomm share price rose yesterday along with other chip stocks driven by short covering, JPMorgan's overweight rating supported the gains. |
| Robinhood jumped 4% | Robinhood share price jumped yesterday after the firm launched its Web3 wallet's beta version. |
| S&P 500 ETF ended flat | S&P 500 ETF price ended near 1-year low yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| UiPath jumped 5% | UiPath share price rallied yesterday over reports of institutional investors entering the stock. |
| Vanguard S&P 500 ETF ended flat | Vanguard S&P 500 ETF price ended near 1-year low yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Vanguard S&P 500 Growth ETF ended flat | Vanguard S&P 500 Growth ETF ended near 1-year low yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| WeWork lost 6% | WeWork share price touched 1-year low yesterday, stock down 16% in last 5-trading sessions. |
Why did Robinhood stock rise?
Robinhood share price jumped yesterday after the firm launched its Web3 wallet's beta version.
Why is Airbnb share price rallying?
Airbnb share price rose yesterday driven by short covering, positive review by Truist Securities.
Why did Freshworks share price jump?
Freshworks share price rallied yesterday amid reports of institutional and management buying stocks.
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