TheDrop Market Analysis, 8/16/24

Just like yesterday, today's market is majority in the green.

Every index fund is up today, albeit by much smaller margins than yesterday. The S&P 500 is up by 0.20%, the Dow is up 0.24%, the Russell by 0.30%, and Nasdaq is up 0.21%, much smaller margins than yesterday's rally, but still growth, nonetheless.

Most large companies are up by varying margins, except for GE Aerospace, which only fell by a small 0.31%, as its share price is stabilizing from reaching the value of the company, not overbought nor oversold just yet.

The only significant change today is Crude Oil, which continues to plummet, today by 2%, continuing the market trend downward for the fossil fuel product as demand for it is projected to be much lower than expected.

Overall, the market is largely stagnant today with only minor increases or some minor decreases across the board. This is why many investors decided to hold off from buying any stocks today.