TheDrop Market Analysis, 9/13/24

To end the most chaotic week of September, markets have risen to its highest point since before the first string of bad earnings reports in early August.

Index funds finished strong today. The Dow grew by 0.72%, fueled by strong recovery efforts in the banking sector, the S&P 500 grew by 0.54%, and the Nasdaq rose to above 0.6%. As rate cuts by the Fed seem more and more likely to happen as early as next week, investors jumped with buying pressure, as now could be the time to start buying for the future surge if cuts are made.

Most big tech stocks grew today, but not by significant margins. The outlier in this pack of companies is Tempus AI, which saw record growth in share price today after announcing new AI mechanics including helping in mRNA vaccine research. The mRNA vaccine companies BioNTech and Novavax skyrocketed as investors fled older vaccine companies such as Pfizer and Moderna for new alternatives, which are promising vaccines to prevent or cure tumors and even some forms of cancer.

Boeing fell today after news of a massive strike in its production facility in Seattle. Nvidia consolidated to almost pre-dip levels, but has not seen significant recovery today.

Donald Trump's media company surged today after his announcement that he will not indeed sell his majority stake in the company. Could Truth Social stay afloat? Only time will tell.