Today's stock market

What Happened in the Stock Market Today

Today's stock market

Technology stocks led the market, with Apple making history by being the first U.S. company to break through $1 trillion in market capitalization. The Technology Select Sector SPDR ETF (NYSEMKT: XLK) gained 1.3%. The materials sector lagged; the iShares US Basic Materials ETF (NYSEMKT: IYM) fell 1%.

Sonos, maker of high-end speakers for the home audio market, traded publicly for the first time today, and shares soared 32.7% above the initial public offering price of $15. Sonos had lowered the offering price below the $17-$19 market target range that was given in the regis.

Sonos offered 5.6 stock shares:

current shareholders offered 8.3 million shares in the offering. Options on another 2.1 million shares are available to the underwriters from the company and existing shareholders. After the offering, there are a total of 98.4 million shares outstanding, giving the company a market capitalization of $2 billion.

Shares of meal-kit company Blue Apron got hammered today, plummeting 24.4% after the company failed to meet already-low sales expectations for the second quarter and reported that it's losing customers at a rapid pace. Net revenue fell 25% to $180 million, compared with analyst expectations for a 21% decline