TheDrop Market Analysis, 8/15/24

Just like the last few days, the market is showing strong signs of recovery from last week's temporary drop in share prices.

Every single index fund is up. The Dow by 1.4%, the S&P 500 by 1.6%, and the Nasdaq index by 2.3%. Even the stagnant Russell fund, made up of many medium-sized businesses, had a substantial increase of over 2%. This market-wide trend is due to yesterday's CPI report which highlights strong signs of the economy in recent weeks.

The majority of companies are up by massive margins, a truly bullish trading day for many investors. Tesla, a company which fell by tens of dollars per share, now witnessed an increase of over 6% today. Amazon went up by over 4%, Apple by 1.4%, Google by 0.7%, Intel by 3.8%, Nvidia by 4%: the list goes on. Yesterday's CPI report showed signs of growing retail sales nationwide, sparking massive enthusiasm for large companies like those previously mentioned.

Crude Oil is still dropping from yesterday due to OPEC's projected demands being much smaller than anticipated beforehand. Quite possibly the only large company down today is AT&T, which has faced more competition from similar or larger companies in its industry of communications technology.