Nvidia back on top, Netflix hits a new high, and Trump Media stock free-falls: Markets news roundup

Trump Media & Technology Group stock hit another post-merger low on Tuesday, extending its decline for a second consecutive day of all-time lows.

The company behind former President Donald Trump’s social media network Truth Social saw the value of its shares fall as much as 4% Tuesday to a new low of $21.33. In less than five months, Trump Media’s shares have plunged roughly 63%, giving the company a market capitalization of $4.29 billion.

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Netflix (NFLX) stock hit an all-time high Tuesday morning after the streaming pioneer reported that its foray in to advertising continues to be a big success.

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Nvidia stock has been on another hot streak ahead of its latest earnings report.

Shares of the AI chipmaker have soared nearly 30% in the last two weeks, giving the firm a roughly $750 billion boost to its market capitalization. That’s also helped lift the tech-heavy Nasdaq up more than 7% from its Aug. 5 low.

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Shares of Trump Media & Technology Group, the company behind former President Donald Trump’s Truth Social, hit a new post-merger low on Monday as the Democratic National Convention kicks off in Chicago.

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Shares of Trump Media & Technology Group have mounted a sudden turnaround after weeks of bleeding.

Trump Media stock climbed nearly 15%, trading at $24.60 per share Wednesday. It wasn’t immediately clear why shares of Trump Media, the company behind former President Donald Trump’s social media network Truth Social, reversed course so sharply after two consecutive days of all-time post-merger lows.

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The used car market has been an up-and-down mess since at least 2020, with reduced new car inventory pushing more buyers into pre-owned purchases, which reduced the revolving supply of trade-ins. This perfect storm of pandemic-induced chip-shortage used car inflation appears to finally be subsiding. According to a new report from Edmunds Q2 of 2024 saw used car prices dip nearly 7% across the board, while used EV prices tanked a full 20%. Consumers have more used car options and are typically paying less for them than they were in the same period of 2023.

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The Dow Jones Industrial Average (DJIA) surged almost 300 points on Friday afternoon after Federal Reserve Chair Jerome Powell signaled that interest rate cuts might happen soon. Speaking at the annual Jackson Hole Economic Symposium in Wyoming, Powell hinted at potential rate cuts but didn’t offer specific details on the timing or magnitude.

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Jeff Weniger of WisdomTree breaks down what it would mean for investors if Harris raised the corporate tax rate to 28% and enforced a food price-gouging ban