TheDrop Market Analysis, 9/11/24

After a deep selloff last week, stocks bounced back in record fashion.

This week's CPI report was not particularly beneficial for markets, crippling Nvidia shares and many other big tech shares. However, we have seen that today, big tech stocks have driven significant economic improvement following a bearish start to September.

All major index funds are up, especially the Nasdaq, which reported a significant contribution to the growth experienced by the S&P, virtually offsetting losses in the banking industry.

Nvidia jumped today in record numbers, surpassing 8% growth in share price. Other big tech and AI stocks such as Apple, Tesla, and Fiverr also jumped today.

After mixed debate reactions, shares in Donald Trump's media company fell by over 10%. Meanwhile, GameStop collapsed after a brief period of rallying induced by Roaring Kitty's social media activism. The video game company reported lower sales in its latest Q2 earnings report.