Moovin Stonks | Declining Post-Debate Market Sees Trump Media Drop While EVs Climb

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.

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.

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.

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.