TheDrop Market Analysis, 01/29/24

Alexangel Ventura
Jan 29, 2025
1 min read

Markets sank following a significant announcement by the Fed.

The S&P 500 sank 0.5%, the Nasdaq fell 0.4%, and the Dow fell by a marginal 0.3%. Overall, markets were bearish today after Jerome Powell's announcement to reporters on Wednesday that the Fed will not commit to further rate cuts despite political pressure from President Donald Trump. Rather, the Fed will pursue a passive approach to rates, taking caution due to slowly increasing inflation.

Most tech stocks are down. Nvidia fell by a whopping 4.1%, Tesla fell 2.3%, Amazon fell 0.5%, and Crowdstrike fell 2.8%, to name a few. Overall, investors in the tech industry sold off in droves after optimism of a rate cut fell. However, Apple made a solid rise today, growing 0.5%, possibly due to its correction to a less undervalued level following a long period of decline.

Trump Media surged 7% following the introduction of Truth.Fi, a financial aspect to the website.

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Stock "Trump accounts" given green light by first donors, bolstering feasibility

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TheDrop Market Analysis, 01/29/24

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Top Stories

The Federal Reserve cuts interest rates, potentially for the final time

Huge Netflix-Warner Bros. Deal Attracts Heat from Politicians

Stock "Trump accounts" given green light by first donors, bolstering feasibility

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