TheDrop Market Analysis, 01/14/24
- Alexangel Ventura
- Jan 14
- 1 min read
Markets moved back and forth throughout the day as investors extrapolated the implications of the next CPI report data.
The Dow made a very substantial improvement today with a 0.5% increase, possibly marking a changing trend from its previous bearish streak. The S&P 500 also rose today with a respectable 0.11% rise. However, due to varying trends across the stock market, the Nasdaq fell very narrowly, 0.23% specifically, possibly indicating the continued influence of President Biden's chip regulations on tech stocks.
However, the next CPI report, which is expected to release on Wednesday 01/15 at around 8:30 AM EST, has sparked investor attention. Clearly, most investors anticipate good data which may contribute to a possible turnaround in the Fed's decision to stall on 2025 rate cuts.
Most stocks in the Nasdaq index fell, but usually by very small margins, as their prices begin to consolidate at set rates. Nvidia fell by 1.1%, Tesla fell by 1.7%, Apple fell by 0.5%, and Amazon fell 0.3%, to name a few.
In addition, some stocks managed to surge today, including Rigetti, which made a formidable 48% recovery following its heavy downfall not too long ago. XPeng, RedNote, and other Chinese stocks rose amid RedNote's expanding popularity. Trump Media fell massively after becoming overvalued due to strong investor confidence in the media company, as President-Elect Donald Trump's inauguration is in less than a week.
