TheDrop Market Analysis, 9/23/24

Markets have shifted upward for the second day in a row due to the fallout of the Fed's large cut rate last Wednesday, as well as further speculation of even larger cuts later this fall.

The S&P 500 is up 0.28%, the Dow is up 0.15%, and the Nasdaq is up 0.14. Despite making record highs, these index funds didn't boom like last week, just making very slightly higher highs and lows.

Like these index funds, Big Tech was stagnant but improved by a little bit. Tesla is up 4.9%, finally breaking the dip from July's earnings report, Nvidia grew by 0.22, and Intel grew by over 3%. Meanwhile, Apple, Google, and Microsoft remained stagnant and even fell a bit, as reports showed that Microsoft and its peers have fallen out of approval by investors, instead being outcompeted by Nvidia thus far for AI.

Lumen skyrocketed by 9.3%, as Goldman Sachs selected it as a top AI stock pick, increasing buying pressure. Meanwhile, Donald Trump's media company fell by over 10% as the company's lock up period is beginning to expire.