TheDrop Market Analysis, 8/19/24

The market today highlights resoundingly different perspectives for companies across the nation.

Index funds vary in performance today, but generally highlight little movement if any. The Dow and S&P 500 are up marginally, but the Nasdaq composite is down.

Nvidia made dramatic rises once again as the stock market's leading gainer, gaining over 30% as of today from the beginning of this month. Clearly, investors are very optimistic for their upcoming earnings report, which is a statement which I repeatedly found myself saying as the company just has unparalleled momentum. Tesla is up by 3% after it announced groundbreaking AI technologies recorded by humans. Intel is up because of speculation of stronger domestic chip production following China's threats to Taiwan. Even AMD grew by over 4% following major news of an acquisition capable of rivaling Nvidia. The price of one gold bar rose to $1 million for the first time ever.

Meanwhile, U.S. Steel is down by 6% after news of Donald Trump and Josh Shapiro opposing its acquirement by Nippon Steel Corp. Trump Media fell because of the DNC momentum starting Monday and carrying on throughout the week. HP declined drastically after announcements of being downgraded to counter rising costs. Crude Oil once again fell, continuing last week's trend downward.