TheDrop Market Analysis, 12/16/24

Markets started the week strong as Big Tech leads the way.

The Dow was unchanged today due to some stocks in the index fund underperforming. However, beyond this minor discrepancy, stocks rose significantly on Monday. The Nasdaq surged beyond 1%, while the S&P 500 and Russell 2000 chugged forward. The price of crude oil per barrel dipped.

Broadcom led the way with a significant 11.2% rise, following this weekend's success for the chip company. Nvidia, its greatest contender, fell today, but in a small level. Tesla and Google made landmark improvements, both rising above 3% today. Apple, Intel, and Microsoft also rose, riding on a wave of enthusiasm for artificial intelligence.

Many banking companies, especially SoftBank, surged following news that the next Trump administration will subsidize these companies billions. Meanwhile, Trump's attacks on health insurers caused both pharmaceutical companies and insurance companies alike to fall, especially CVS and UNH.