Late-afternoon pullback sinks stocks 📉

The stock market surrendered its early gains in a late-session pullback and extended its losses from Friday's sell-off.                                                                                                                                                                                                                                                                                                                                                                                                                 April 15, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Stocks reversed an early lead to close Monday’s session lower, extending Friday’s sell-off. - DJIA [-0.6%] - S&P 500 [-1.2%] - Nasdaq [-1.7%] - Russell 2K [-1.3%] [How to Grow Your Wealth Like a Billionaire]( Ever caught yourself thinking, "There’s got to be a better way to reduce my taxes and grow my wealth"? There is. It’s all about knowing where to look. And we’re about to show you how to take advantage of the same loopholes and tricks the rich use to guard their wealth. [Get Started on the Next Page »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 🛒 March Retail Sales Exceed Expectations In March, U.S. retail sales saw a notable increase of 0.7%, outperforming expectations set by economists who had forecasted a more modest rise of 0.3%. This report from the Commerce Department highlights a significant uptick in consumer spending. When excluding auto sales, the growth was even more pronounced at 1.1%, doubling the anticipated 0.5% rise. Market Reactions 📈 The figures for February were also revised upward from 0.6% to 0.9%, indicating sustained consumer strength. Following the release of these figures, stock futures saw an uptick, and Treasury yields rose as bond prices dropped, signaling investor anticipation of a warmer economic climate. Consumer Resilience 🏪 This latest data contradicts earlier predictions that consumers might begin tightening their belts due to dwindling pandemic-era savings and the cumulative impact of inflation on real wage growth. Instead, the resilience of consumer spending suggests a potentially more optimistic economic outlook. This sentiment is reinforced by recent Labor Department data indicating a 3.5% rise in consumer prices in March year-over-year, suggesting continued economic heat. Growth Implications 📊 The strong performance in retail sales provides a clearer picture of the economic landscape, potentially influencing future monetary policy decisions as market observers reassess growth prospects in light of sustained consumer spending. Interest Rate Angle 📐 The stronger-than-expected data could give the Fed more reason to pause when considering rate cuts in the months ahead. This conclusion may have contributed to the today’s late-session pullback. Top Winners and Losers 🔥 Kaival Brands [KAVL] $6.30 (+135.9%) enjoyed a meme stock rally after it was mentioned in an X post by Zack Morris. Longeveron [LGVN] $2.93 (+73.3%) filed an amendment to its Form 10-K/A that provided updated information on its financial position. Kuke Music [KUKE] $3.24 (+47.9%) rallied after announcing the establishment of an R&D center in Guangzhou on Sunday. Marinus Pharma [MRNS] $1.30 (82.7%) published disappointing data from a Phase 3 trial interim analysis of ganaxolone. Stronghold Digital Mining [SDIG] $2.23 (29.2%) filed for a mixed shelf offering of up to $250 million worth of its common stock and warrants. Tracon Pharma [TCON] $1.80 (23.7%) filed a registration statement for an unspecified amount of it’s common stock after Friday’s close. That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign Up for Mobile Alerts Now]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. 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