TheDrop Market Analysis, 9/26/24

Today's market shows very beneficial signs for the U.S. economy, maybe even never before seen since pre-pandemic 2020.

All index funds are up by large margins. The Dow by 0.6%, the S&P 500 by 0.4%, and the Nasdaq by 0.6%. The Russell didn't fail to disappoint with an almost 0.6% finish. This general bullishness can be attributed to immense buying pressure fueled by chip stocks, as the economy begins to reveal really good statistics.

Talking about chip stocks, big chip makers soared today. Nvidia went up 0.4%, Intel by 1.6%, and AMD by 3.4%. These are truly significant numbers, as these stocks have tumbled not too long ago due to poor investor enthusiasm in the industry. Now, investor enthusiasm has reached an all-time high for these companies as AI plays a more significant factor in chipmaking.

China stocks including Alibaba soared today after China announced a new large stimulus package to companies centrally operating within its borders.

Meanwhile, the price of crude oil has reached a four year low, almost reaching 2020 levels. This could be a good sign that oil and gas prices throughout the world will shrink, becoming more affordable to more average consumers.