US Market today: Why did Disney share price rally? Check top gainers and losers in the US markets
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What happened in the US stock market today?
- US stocks rebounded on Wednesday, snapping a 6-day losing streak. Nasdaq up 2.05%, S&P 500 closed 1.97% higher and the Dow Jones rallied 1.88%.
- Bank of England’s move to buy bonds to stabilise its financial markets lifted sentiments. Concerns around soaring inflation eased.
- The Dow is now 19.7% off its 52-week high, while the S&P 500 is 22.8% below its all-time high. The Nasdaq is down 31.8% from its record high.
- Value buying emerged, and the rally was board based. Home Depot, Disney were among the biggest gainers in the Dow, gaining upto 5%.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Adobe ended 1% higher | Adobe share price rose yesterday after touching the 1-year low, valuation concerns over Figma acquisition deal capped the gains. |
| Airbnb rose 4% | Airbnb share price rose yesterday driven by short covering, positive review by brokerages. |
| Amazon jumped 3% | Amazon share price jumped yesterday along with other big tech stocks, anticipation of US central bank's support to economic growth boosted sentiments. |
| AMD rose 2% | AMD share price extended gains yesterday post announcing a launch of new series of high-performance processors. |
| Apple fell 1% | Apple share price fell yesterday after reports of the company dropping plan to increase production of new iPhones over demand concerns. |
| ARK Innovation ETF rose 5% | ARK Innovation ETF price rose yesterday, driven by the gains in underlying growth stocks of Block, Coinbase and Teladoc. |
| Bank Of America rose 2% | Bank Of America share price jumped along with financial stocks yesterday, anticipation of US central bank's support to economic growth boosted sentiments. |
| Cloudflare jumped 2% | Cloudflare share price extended gains yesterday amid reports the firm's initiating the strategy to gain cloud business market share. |
| Coinbase rose 7% | Coinbase share price ended higher yesterday driven by short covering, jump in Bitcoin's prices. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF jumped 13% | 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 4% | Direxion Daily Semiconductor Bull 3X Shares ETF price rose yesterday tracking the gains in chip stocks of Marvell Technology and NVIDIA. |
| Direxion Daily Technology Bull 3X Shares ETF rose 3% | Direxion Daily Technology Bull 3X Shares ETF price rose yesterday driven by gains in the shares of PayPal and NVIDIA. |
| Disney jumped 4% | Disney share price jumped yesterday driven by short covering, temporary closure of Florida theme parks ahead of Hurricane Ian's arrival capped the gains. |
| Dominos Pizza rose 2% | Domino’s Pizza share price rose yesterday driven by short covering after touching a 1-year low, brokerage firms' negative review over staffing issues capped the gains. |
| FedEx rose 3% | FedEx share price rose yesterday driven by short covering after touching a new 1-year low, stock down 27% since announcing weak revenue growth forecast. |
| Ford jumped 2% | Ford share price rose yesterday driven by short covering, reports of management shuffle amid global supply chain concerns capped the gains. |
| Freshworks jumped 5% | Freshworks share price rallied yesterday amid reports of institutional and management buying stocks. |
| Global X Lithium & Battery Tech ETF ended flat | Global X Lithium & Battery Tech ETF price ended flat yesterday tracking lithium prices and volatility in underlying stock of Albemarle Corporation. |
| Google (Alphabet) rose 3% | Google (Alphabet) share price jumped yesterday along with other big tech stocks, anticipation of US central bank's support to economic growth boosted sentiments. |
| Intuit ended 2% higher | Intuit share price rose yesterday drive by short covering, stock still down 10% since announcing weak earnings growth outlook 2-weeks back. |
| Invesco NASDAQ 100 ETF rose 2% | Invesco NASDAQ 100 ETF rose yesterday tracking the gains in tech stocks driven by reports of supportive stance by US central bank for economic growth. |
| Invesco QQQ Trust Series 1 ETF rose 2% | Invesco QQQ Trust Series 1 ETF rose yesterday tracking the gains in tech stocks driven by reports of supportive stance by US central bank for economic growth. |
| JPMorgan rose 2% | JPMorgan share price jumped yesterday along with financial stocks, anticipation of US central bank's support to economic growth boosted sentiments. |
| Mastercard rose 1% | Mastercard share price rose yesterday driven by short covering, potential regulatory actions over 'Buy Now Pay Later' business capped the gains. |
| Meta (Facebook) jumped 5% | Meta (Facebook) share price jumped yesterday driven by value buying after stock touched new 1-year low, reports of regulatory probe over users' tracking on iOS hurt capped gains. |
| Microsoft jumped 2% | Microsoft share price rose yesterday along with other big tech stocks driven by short covering, legal hurdle in UK for $69 billion Activision acquisition deal capped the gains. |
| ProShares Bitcoin Strategy ETF rose 3% | ProShares Bitcoin Strategy ETF price rose yesterday driven by gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors rose 3% | ProShares Ultra Semiconductors ETF price rose yesterday tracking the gains in chip stocks of NVIDIA and Broadcom. |
| Robinhood jumped 4% | Robinhood share price jumped yesterday after the firm launched its Web3 wallet's beta version. |
Why did Disney share price rally?
Disney share price jumped yesterday driven by short covering, temporary closure of Florida theme parks ahead of Hurricane Ian's arrival capped the gains.
Why is Amazon stock rising?
Amazon share price jumped yesterday along with other big tech stocks, anticipation of US central bank's support to economic growth boosted sentiments.
Why did Apple stock fall?
Apple share price fell yesterday after reports of the company dropping plan to increase production of new iPhones over demand concerns.
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