TheDrop Market Analysis, 01/28/24
- Alexangel Ventura
- Jan 28
- 1 min read
Markets made a strong recovery today following DeepSeek's introduction into the American market.
The S&P 500 climbed 0.9%, the Dow rose 0.3%, and the Nasdaq surged beyond 2%. This is generally good news for the economy, as investors' fears of a possible Chinese penetration into the domestic technology industry begin to dwindle. The Russell remained relatively even, marking a solid green day across the board.
Nvidia made a very solid recovery today with an 8.9% spike, which made it recover over half of its losses from yesterday. However, the chipmaker still has a long way to go before actually reaching all-time highs. Other stocks which fell yesterday like Crowdstrike and Oracle also made substantial recoveries in their share price. Perhaps the markets are showing us how DeepSeek may not be as grand of a threat as it initially seemed.
Some outlier companies fell today like Intel and Target, however by very miniscule margins, reflecting the general lack of a truly bearish environment today. However, some tickers did plummet. JetBlue, for instance, sank 25.7% after a poor earnings report.
Overall investors bought the dip today and profited, perhaps greatly.
