US Market today: Why did Robinhood stock rally? Check top gainers and losers in the US markets
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What happened in the US stock market today?
- US stocks closed lower ahead of unemployment data release. Dow Jones fell 1.15%, S&P 500 ended 1.02% lower and Nasdaq lost 0.68%.
- US’s monthly nonfarm payrolls numbers in focus for Friday, will impact US central bank’s decision on further interest rate hikes.
- Real estate, semiconductors, and small caps stocks fell the most, while energy stocks gained.
- Alphabet (Google) ended flat after the launch of new smartphones and its first smart watch.
- Pinterest share price jumped after Goldman Sachs upgraded it to Buy on the back of a jump in the daily active users on the platform.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Accuray crashed 4% | Accuray extended fall yesterday over reports of management team selling the shares. |
| Arcimoto crashed 8% | Arcimoto extended fall yesterday over reports of potentially selling up to $50 million shares to Tumim Stone Capital. |
| Bank Of America fell 1% | Bank Of America witnessed profit booking along with financial stocks yesterday, Friday's unemployment data to decide further trajectory of the share. |
| Coinbase rose 1% | Coinbase share price ended higher yesterday driven by gains in most cryptocurrencies prices and trading volumes. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares jumped 3% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price gained yesterday driven by rally in the energy shares of Devon Energy and ConocoPhillips. |
| Direxion Daily Semiconductor Bull 3X Shares ETF fell 2% | Direxion Daily Semiconductor Bull 3X Shares ETF price fell yesterday tracking the losses in chip stocks of Intel and Broadcom. |
| Direxion Daily Technology Bull 3X Shares ETF lost 3% | Direxion Daily Technology Bull 3X Shares ETF price fell yesterday driven by losses in the shares of Mastercard and Microsoft. |
| DocuSign fell 4% | DocuSign share price extended fall yesterday driven by Morgan Stanley's downgrade over growth concerns. |
| Hycroft Mining Holding Corporation fell 1% | Hycroft Mining Holding Corporation share price fell yesterday over reports of it receiving a delisting notice from the Nasdaq exchange. |
| IBM fell 3% | IBM share price fell along with other Tech leaders. Announcement of $20 Billion investment in New York State capped the losses. |
| Nike fell 1% | Nike ended lower yesterday driven by profit booking, share price still up 8% in last 1-week. |
| Nio fell 8% | Nio fell over reports of rising cost of capital, brokerages lowering share price targets. |
| ProShares Ultra Semiconductors fell 2% | ProShares Ultra Semiconductors ETF price fell yesterday tracking the losses in chip stocks of Intel and Broadcom. |
| Robinhood rose 4% | Robinhood share price gained over reports of settling up a data breach lawsuit in $20 million dollars. |
| Shopify fell 3% | Shopify share price fell yesterday amid reports of settling a textbook publishers' lawsuit over alleged piracy. |
| Snap jumped 1% | Snap jumped yesterday after Barclays revised the share price target to $21 per share. |
| Tesla fell 1% | Tesla share price fell yesterday amid speculations that Musk might sell more shares to fund the Twitter deal and a new 'X' app. |
| Twitter fell 4% | Twitter share price fell driven by volatility ahead of Musk-Twitter buyout. |
| Upstart jumped 4% | Upstart share price rallied over reports of an agreement of deeper business tie-up with Atlantic Federal Credit Union, anticipation of solid business growth in December quarter. |
Why did Robinhood share price rise?
Robinhood share price gained over reports of settling up a data breach lawsuit in $20 million dollars.
Why is Arcimoto stock falling?
Arcimoto extended fall yesterday over reports of potentially selling up to $50 million shares to Tumim Stone Capital.
Why did Upstart stock jump?
Upstart share price rallied over reports of an agreement of deeper business tie-up with Atlantic Federal Credit Union, anticipation of solid business growth in December quarter.
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