TheDrop Market Analysis, 8/23/24
- Alexangel Ventura
- Aug 23, 2024
- 1 min read
On Friday, markets surge as Fed chair Jerome Powell announces the largest cut rates in over three years.
All index funds are up massively as investors excitedly buy. The S&P is up by 1.15%, the Dow is up 1.14%, and Nasdaq is up 1.47%. Even the Russell is up, by 3.19%.
Most major companies are up by 1-5% as a result. However, several companies did surge by even more during today's market. Cava stock skyrockets following beneficial earnings report, and Surgery Partners Inc. follows behind with equally good earnings. Uranium Energy Corp. is up 13% as demand exceeds supply.
However, one key company stands as an outlier in today's lime-green market: Meta. The social media company reported a string of cyberattacks by Iranian hackers on campaign staffers of Donald Trump and Joe Biden, thus causing investors to fear and sell off their shares.
