TheDrop Market Analysis, 01/15/24

Alexangel Ventura
Jan 15
1 min read

Markets ballooned on Wednesday following a generally beneficial CPI report.

December's CPI report showed that inflation cooled in the year of 2024, with the month of December having a meager 0.4% increase, which shows that inflation is beginning to slow. This is very good news for investors, as it means that a Fed rate cut could be right around the corner.

All index funds surged following the CPI report's release. The Dow rose 1.7%, the S&P 500 rose 1.8%, and the Nasdaq surged beyond 2.4%, as previously undervalued tech stocks made a comeback on Wednesday. The Russell also went up, along with the value of crude oil and gold. Bitcoin is also up 3% today.

As expected, most large stocks are up, with tickers like TSLA, AMZN, MSFT, NVDA, and GOOG leading the way.

Rigetti made an outstanding recovery today, surging past 20% and making a new recent high post-dip. MicroStrategy, GameStop, and other risky stocks made massive gains today, as well.

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TheDrop Market Analysis, 01/15/24

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