TheDrop Market Analysis, 12/11/24
- Alexangel Ventura
- Dec 11, 2024
- 1 min read
Markets rose, fueled by Tesla's landmark achievement of reaching all-time highs in share price.
The Nasdaq surged beyond 1.7%, while the S&P chugged along with a 0.8% increase. The Dow fluctuated over the course of the day.
Tesla dominated the stock market, with a rise of 6% in share price, surpassing all-time highs. This came after reports showed that Elon Musk surpassed $400 billion in net worth, the fist human being to do so.
Nvidia, Amazon, and Google each followed Tesla in making huge gains for the Nasdaq index.
Most stocks which fell today only reduced by small margins, showing the strength of the stock market today.
Additionally, CPI data revealed that the Federal Reserve will continue in its plan to cut rates over the next few months, setting stocks higher.
Especially after the 2024 election, investor confidence in the stock market/economy has reached near all-time highs for the past decade. Investors are optimistic that the next Trump administration, through regulation cuts and deeper tax cuts, will stimulate economic growth.
