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US Market Today: Top gainers and losers on Nasdaq and S&P 500

Consumer Price Index numbers to be announced on August 10 will be a keenly watched event.

US Market Today: Top gainers and losers on Nasdaq and S&P 500
The share price of two Nasdaq-listed stocks doubled on Monday with investors gaining 100 percent returns.

The stock market investors are playing a waiting game. Market indices are moving in a small range with stock prices showing low volatility. When inflation is the prime reason for the stock market mayhem, the next round of Consumer Price Index numbers to be announced on August 10 will be a keenly watched event. In June, US inflation rose by 9.1 per cent while US Fed has already raised interest rates by 2.25 per cent in 2022.

US stock futures are trading lower on Tuesday morning with all leading indices in the red.

On Monday, US stock market indices such as Dow (0.14%), S&P 500 (0.28%), Nasdaq (0.18%), Russell 2000 (0.10%) closed modestly lower. The listless session on the first trading day of the week came after S&P and Nasdaq were both up more than 4% last week, with the S&P ending July with the biggest monthly gain since late 2020.

Top S&P 500 stocks that gained the maximum (between 2.5 per cent and 6.5 per cent) on Monday were – Boeing, PerkinElmer, Bath & Body Works, EPAM Systems, Global Payments, Ford Motor, American Airlines Group, Colgate-Palmolive, Procter & Gamble, Kimberly-Clark.

Among the top losers are the share prices of Royal Caribbean Group, Jacobs Engineering Group, Cboe Global Markets, Freeport-McMoRan, ON Semiconductor, Loews, Baker Hughes, Take-Two Interactive Software, Halliburton, Pioneer Natural Resources fell between 3 per cent and 8 per cent.

Stocks that gave 100 per cent return and doubled in one day were Nasdaq-listed Virax Biolabs Group and Ontrak. Other top gainers of Nasdaq included stocks of FAT Brands, Mediaco Holding, GeoVax Labs, Aethlon Medical among others.

Nasdaq’s bottom performers included stocks of Otonomy, Kazia Therapeutics, Zovio, American Rebel Holdings, Blue Water Vaccines, Bright Green, Powerbridge Technologies, Cyclerion Therapeutics among others.

Meanwhile, BP reported its quarterly results on August 2 showing net debt falling for the ninth quarter in a row ( reduced to $22.8 billion), highest quarterly profits in 14 years. The company has put forth a further $3.5 billion share buyback plan and also announced a 10% increase in its quarterly dividend to 6.006 cents per ordinary share.

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