TheDrop Market Analysis, 01/10/25

Markets once again plummeted, today because of a dwindling possibility of a rate cut in early 2025.

Markets sank deep, continuing this week's generally bearish trend. The Dow fell by 1.6%, the S&P 500 fell by 1.5%, and the Nasdaq fell by a comparatively significant 1.6%. Although today's jobs report did beat expectations in many ways, including how it added more jobs than projected or that it actually saw a decrease in the unemployment rate, it did signify that another rate cut by the Fed could be, in fact, unnecessary. As job growth remains strong and inflation is beginning to trickle back in, it may be time for another rate hike, many investors assume. Thus, selling pressure reached its utmost peak today.

Meanwhile, the value of gold, crude, and other backers of the USD have all surged as the next Trump administration pledges a combination of both higher oil production and a stronger dollar.

As expected, most stocks fell significantly throughout the day. Amongst the leaders of the bear market include Nvidia (3%), Apple (2.4%), and Amazon (1.44%). Tilray Brands, a Canadian cannabis company, fell dramatically following a poor earnings report. Rigetti, although making a solid recovery in the early morning from yesterday's drop, inevitably continued to fall in the afternoon.

On the contrary, the value of Bitcoin grew to over $94,780 per Bitcoin, as the general currency flock is prospering today. This may be due to the looming possibility of a rate hike, which if enacted could set the values of these currencies shooting up.