US Market today: Why did Apple (AAPL) share price rally? Check top gainers and losers
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What happened in the US stock market today?
- US markets ended higher, shaking off a 3-week losing streak. Nasdaq gained 2.11%, Dow jumped 1.19% and S&P 500 closed 1.53% higher.
- All three indices posted gains for the week. The Dow rose 2.8% in the week, while the S&P 500 and the Nasdaq gained 3.8% and 4.2%, respectively.
- US stocks have recovered after the central bank reaffirmed that the US Fed would do what it takes to control inflation.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Alphabet (Google) jumped 2% | Alphabet (Google) share price rose sharply over reports of its healthcare arm 'Verily' raising $1 billion for expansion. |
| Apple rose 2% | Apple share price rose over reports of large hedge funds taking a position in the stock. |
| ARK Genomic Revolution ETF jumped 2% | ARK Genomic Revolution ETF price jumped driven by sharp gains in the underlying stocks of Pacific Biosciences, Ionis and Twist Bioscience. |
| ARK Innovation ETF jumped 4% | ARK Innovation ETF price jumped driven by gains in growth stocks such as Coinbase, Shopify, Unity Software and Block. |
| Atlassian rose 8% | Atlassian share price extended gains over reports of planning to hire over 1,500 employees by end of March 2024 in India. |
| Cloudflare jumped 5% | Cloudflare share price extended gains after the firm dropped controversial client Kiwifarms to become more socially responsible. |
| Coinbase jumped 11% | Coinbase share price extended gains over analysts upgrade, ahead of Ethereum's The Merge - one of the crypto industry's biggest events this year. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF rose 6% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price jumped tracking the gains in the energy stocks of ConocoPhillips, Antero Resources and Devon Energy. |
| Direxion Daily Semiconductor Bull 3X ETF rallied 7% | Direxion Daily Semiconductor Bull 3X ETF price jumped tracking the gains in chip stocks of Marvell Technology, AMD and NVIDIA. |
| Direxion Daily Technology Bull 3X ETF rose 6% | Direxion Daily Technology Bull 3X ETF price rose driven by gains in the shares of NVIDIA, Microsoft and Visa. |
| DocuSign jumped 11% | DocuSign share price jumped over solid June quarter earnings and strong growth outlook. |
| NIO rose 8% | NIO share price extended gains after reporting solid revenue in June quarter and strong growth outlook. |
| Nu rose 7% | Nu share price extended gains as analysts upgraded stocks' outlook on the back of solid earnings estimates driven by declining funding costs. |
| NVIDIA rose 3% | NVIDIA share price rallied driven by reports of new products launch in coming weeks. |
| ProShares Bitcoin Strategy ETF jumped 11% | ProShares Bitcoin Strategy ETF price rose tracking the gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors jumped 4% | ProShares Ultra Semiconductors ETF price rose sharply tracking the positive trend in chip stocks of NVIDIA, QUALCOMM and Intel. |
| Rivian rose 2% | Rivian share price extended gains over reports of tie-up with Mercedes-Benz to build electric commercial vans in Europe. |
| Shopify gained 9% | Shopify share price extended gains over reports of change in management, plans of new growth strategy. |
| Snap rose 1% | Snap share price extended gains over reports of firm's focus on touching $6 billion in revenue and 450 million users quickly. |
| Tesla rose 4% | Tesla share price extended gains over report of 'buy' rating by large research houses, brokerages, US government's push for EV adoption. |
| Twitter rose 1% | Twitter share price extended gains amid reports of Delaware court rejecting Musk's request to delay the Twitter trial. |
US ETFs - Learn about the ETFs?
- Which Indian stock has the highest allocation in one of the most popular emerging market ETFs - MSCI Emerging Markets iShares ETF (EEM)?
Reliance Industries (1.1%) has the highest allocation in MSCI Emerging Markets iShares ETF followed by Infosys.
- Which stock has the highest allocation in one of the most popular Tech ETFs - Vanguard Information Technology ETF (VGT)?
Apple has the highest allocation of (19.3%) in the Vanguard Information Technology ETF.
- Which sector has the highest allocation in one of the popular balanced ETF - iShares Core Aggressive Allocation ETF (AOA)?
The Technology sector has the highest allocation of (20.47%) in iShares Core Aggressive Allocation ETF.
- Which stock has the highest allocation in one of the most popular emerging market ETFs - SPDR Portfolio Emerging Markets ETF (SPEM)?
Taiwan Semiconductor has the highest allocation of (4.58%) in SPDR Portfolio Emerging Markets ETF.
- Which stock has the highest allocation in Cathie Wood’s famous ARK Innovation ETF (ARKK)?
Tesla has the highest allocation of (more than 7%) in Cathie Wood’s famous ARK Innovation ETF.
Why did Apple share price rally?
Apple share price rose over reports of large hedge funds taking a position in the stock.
Why is Shopify share price rising?
Shopify share price extended gains over reports of change in management, plans of new growth strategy.
Why is Nvidia share price gaining?
NVIDIA share price rallied driven by reports of new products launch in coming weeks.
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