TheDrop Market Analysis, 9/17/24

Markets looked strong in the morning, but by the afternoon it began to fall into selling pressure, ultimately leaving stocks stagnant.

Markets have shaken up today as investors both panic and optimistically anticipate the Fed's rate cut announcement this week. All three large index funds did not change by more than 0.20%, showing stocks' steadiness leading to Jerome Powell's pivotal announcement that could have global implications.

Due to this stagnant yet stead market, most stocks did not change by very much. While Tesla and Apple grew, Nvidia and Oracle fell.

Tempus AI, after a strong session a few days ago, finally fell on back after realizing its state of oversaturation. Meanwhile, Icahn continues strong recovery in his stock after the positive court ruling yesterday.

Due to markets' low volatility today, investors have been eyeing tomorrow and subsequent trading days for potential returns. If Powell announces a half-of-a-basis-point cut, do expect stocks to skyrocket by the end of the week. If anything less than that is announce, stocks may very well fall, continuing the September legacy of bearish markets historically.