Moovin Stonks | Declining Post-Debate Market Sees Trump Media Drop While EVs Climb
![Moovin Stonks | Declining Post-Debate Market Sees Trump Media Drop While EVs Climb](https://ussnsimg.moomoo.com/sns_client_feed/73649557/20240823/1724422520077-e56ab9451d.png/big?area=100&is_public=true)
Happy trading, it's Wednesday, September 11th. The market squarely pulled back this morning, even after CPI came in a year-to-year low that had not been seen since before inflation ran up during the pandemic in 2021. It is a solemn anniversary in the New York City metro area, but we will never forget.
Still, the market paid more attention to the aftermath of the first debate between former President Donald Trump and Vice President Kamala Harris in the run-up to the 2024 election.
My name is Kevin Travers; here is a quick roundup of the U.S. stock market today.
$Trump Media & Technology (DJT.US)$ fell about 15% after Trump's debate appearance. Investors are waiting for the end of the pre-public SPAC merger share lockup: Stock owners like Trump have billions in shares they can sell.
$GameStop (GME.US)$ stock plummeted 16% Wednesday after Tuesday's Q2 earnings of 4C/share beat expectations of -9C but sales dropped 30%. The firm filed a registration statement Tuesday concerning its proposed sale of up to 20 million of its class A common shares.
$Albemarle (ALB.US)$, an industrial production firm climbed 8% Wednesday, the highest on the S&P 500. The firm has a large lithium energy and compound segment. According to MarketWatch, the miner rallied after Citi analysts said the Chinese lithium mining giant CATL told reporters it would cut some of its production.
Within industries tracked by moomoo, solar and green energy stocks climbed in part after Vice President Kamala Harris took on former President Donald Trump and talked about investing in Green Energy.
$First Solar (FSLR.US)$ shares rose 8% while $Enphase Energy (ENPH.US)$ gained 2%, and $Sunrun (RUN.US)$ 8%. It has been a tough year for the industry. $SolarEdge Technologies (SEDG.US)$ climbed 8%.
![Moovin Stonks | Declining Post-Debate Market Sees Trump Media Drop While EVs Climb](https://ussnsimg.moomoo.com/sns_client_feed/73649557/20240911/1726065478077-e0e2986cc4.png/big?area=100&is_public=true)
$Crude Oil Futures(OCT4) (CLmain.US)$ also climbed after hitting lows Tuesday. $Bitcoin (BTC.CC)$ fell 3% to $55k., Gold fell slightly but stayed above $2,500 $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ both fell
The market started to fall shortly after opening, falling across the board. Every S&P 500 sector was lower, and 7500 equities were declining on the market, compared to just 2500 climbing.
![Moovin Stonks | Declining Post-Debate Market Sees Trump Media Drop While EVs Climb](https://ussnsimg.moomoo.com/sns_client_feed/73649557/20240911/1726066776004-584acf2511.png/big?area=100&is_public=true)
Just past 11:43 am ET the $S&P 500 Index (.SPX.US)$ traded -0.78%, the $Dow Jones Industrial Average (.DJI.US)$ fell 1.08%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.25%
Consumer prices grew 2.5% year over year, the lowest CPI year-to-year growth from the Bureau of Labor Statistics since the beginning of the pandemic. Year-over-year Core CPI, which excludes energy and food, is unchanged from last month's 3.2%. Month over month, Core CPI actually climbed from 0.2% to 0.3%.
PPI and initial jobless claims will be released on Thursday.
Last week, just before the blackout began in the lead-up to the FOMC September 17-18th rate decision meeting, investors also got word from New York Fed President John Williams Friday that it is time to cut rates.
Speaking toward the Council on Foreign Relations, Williams said the economy is balanced, and inflation is tracking lower, and "it is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate."
Last Friday, the economy added 142k nonfarm payrolls last week, and the Unemployment rate landed at 4.2% in August, according to the Bureau of Labor Statistics. Payrolls were below expected by 20k, but fit the narrative of softening labor in the U.S. that investors have come to expect.
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Yesterday, users bet the market would fall today, no matter the debate's outcome.
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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Clement Lemons : okk
Clement Lemons : okk