TheDrop Market Analysis, 01/21/25
- Alexangel Ventura
- Jan 21
- 1 min read
Markets generally rose in President Donald J. Trump's first full day back in office.
Markets performed strong all across the board, with the Dow rising 1.2%, the Nasdaq climbing 0.6%, and the S&P 500 rising 0.9%. Trump, making many landmark executive decisions on day one and promising optimism in his own economy, kept stocks generally bullish throughout the day, while keeping the USD and gold stable. Additionally, Trump began to considering laying back his plans for large 25% tariffs on Canada and Mexico, giving investors a glimmer of hope that international free trade will remain the way it is now.
After Trump made promises to invest in AI and other technologies on Tuesday, these AI stocks surged. Amongst these stocks include Tempus AI, SoundHound, Oracle, and most surprisingly Rigetti, which surged 42% to a new recent high of $13.98 per share. The quantum computing stock saw great volatility with it previously falling 50% just two weeks ago.
Other large stocks boomed today. Amongst these winners include Intel, Amazon, and Nvidia.
However, Trump's own DJT stock plummeted 11% as his inauguration bump begins to fade. Tesla stocks also fell amid controversy over Elon Musk's "nazi" salute.
