TheDrop Market Analysis 9/4/24

Following a steep downhill trend from yesterday's market close, today's market did not make ground in the slightest.

Index funds have remained stagnant since this morning, with the S&P reporting losses of 0.16%, the Nasdaq by 0.30%, and the usually turbulent Russell by 0.19%. Meanwhile, the Dow grew by an unremarkable 0.09%, ending its morning momentum by the early afternoon.

Nvidia, for the second day in a row, fell sharply, this time by almost 2%. Like yesterday, it brought other tech companies, and the Nasdaq, down with it. Meanwhile, Dollar Tree continues its plummeting streak since last week, falling by 25% after announcements of weakening profits and cuts to the company. U.S. Steel fell after President Biden announced that he will not approve the company's acquisition by Nippon Steel.

While its competitors fell by sometimes massive margins, Lumen Technologies only grew. The AI-powered communications company took the ranks as one of the fastest growing stocks today, with an increase of 14% after a week of sluggish returns.

Is it safe to buy Lumen? Right now, no. The AI market is still far from perfect, especially when it comes to reliable returns, and the stock has become heavily oversaturated after today's buying pressure. If you have already bought a stock before today, great. If not, keep track of how the company swings, and make a planned-out stock trade when it returns to its fixed rate.