TheDrop Market Analysis, 9/19/24
- Alexangel Ventura
- Sep 19, 2024
- 1 min read
In the most spectacular showing in at least two months, the stock market finished off breaking the odds and solidifying itself as the best source of returns for investors from all across the world.
Undoubtedly, yesterday's Fed rate cut was the key factor in the market's overall boom. The S&P is up 1.7%, the Dow is up 1.3%, and the Nasdaq is up 2.5%. These are the largest margins which the market has ever seen this month. Any increase of above 1% highlights a strong trend in the markets which investors should capitalize to make substantial profits through stock trading.
These became all-time highs for the stock market's history.
What led today's boom was Big Tech. Tesla is up by over 7%, making up most of its ground from the fallout of its disastrous earnings report in July. In addition, Nvidia rose 4%, Apple 3.7%, Google 1.5%, Microsoft 1.8%. The list goes on. The Fed's rate cut made Big Tech the market leaders of the bull.
Some companies did blunder or not use the boom effectively, however. Donald Trump Media is down almost 6% after news that Trump will not sell his stake in the company. Also, Sketchers plummeted by almost 10%.
Nike has yet to react to its shift in CEO.
