TheDrop Market Analysis, 12/19/24
- Alexangel Ventura
- Dec 19, 2024
- 1 min read
Stocks initially look poised to make a rebound, but instead failed by the end of the market day.
Both the Nasdaq and the S&P 500 fell by small margins; however, the Dow rose by a mere 0.04%, ending its record-breaking losing streak. Today's lackluster shift in neither direction could have been due to the aftermath of yesterday's postmortem of the Fed rate cut announcement, setting stocks plunging yesterday.
Meanwhile, some stocks made very strong recoveries. Nvidia rose 1.4%, Amazon rose 1.3%, and Apple rose 0.7%.
The economy made a surprisingly good result in today's report. The US GDP rose 3.1% by the year, surpassing the previous reading of 2.8%, showing some signs of strength in the economy.
FedEx rose by almost 10% after they announced their second quarter initiative.
