TheDrop Market Analysis, 8/12/24

Today has not been a particularly great day for the market.

U.S. index funds performed exceptionally bad in today's market cycle. The Dow continued its downward path following last week's craze, while the S&P 500 and Nasdaq witness marginal recoveries, which come underwhelming compared to what many investors anticipated.

Most stocks collapsed today. DJT (Trump Media) fell considerably following news of Trump's return to the platform X, and the possible insignificance of his own platform Truth Social as a result. JetBlue fell by over 20%, the largest dip in its history, due to news of layoff and downgrades to manage large piles of debt. Tesla and Intel continue to dip due to underwhelming enthusiasm by investors for AI, and other large companies such as Amazon and Google fell with them.

The most surprising result from today's market close was Nvidia, a chips manufacturer heavily deemed as unfavorable due to its incorporation of AI into its chips. However, the company is having a surge of support by investors in hopes of a beneficial earnings report this week. Apple also increased because of high hopes for its newest lineup of Phones.